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    Financial Advice Provider Disclosure Statement

    globalfinancelogo

    GENERAL INFORMATION

    Global Financial Services Limited (GFS) is one of New Zealand’s highly awarded mortgage and personal risk insurance adviser. GFS commenced business on 5th March 1999 and has been successfully operating for more than 22 years. Reviews about our services can be seen on Google, Facebook (GFSNZ), and Trust Pilot.

    We have successfully arranged more than $10 billion of housing, business, commercial loans, and personal risk insurance covers since 1999.

    We are currently located at the following physical locations:
    globalfinancelogo

    Our Financial Advice Services
    LICENCE STATUS

    GFS holds a licence, issued by the Financial Markets Authority (FMA), to provide financial advice services.

    GFS conducts it’s business through its financial advisers and nominated representatives.

    General information is also provided to customers through our newsletters, blogs and other digital publications.

    DUTIES OF INFORMATION

    We have duties under the Financial Markets Conduct Act 2013 and the Code of Professional Conduct for Financial Advisers (Code) relating to the way that we give advice.

    We are required to:

    • • Give priority to your interests by taking all reasonable steps to make sure our advice is not materially influenced by our own interests.
    • • Exercise care, diligence, and skill in providing you with advice.
    • • Meet applicable standards of competence, knowledge, and skill under the Code.
    • • Meet standards of ethical behaviour, conduct and client care under the Code. These include duties to treat you fairly, act with integrity, give financial advice that is suitable, and take reasonable steps to ensure you understand the financial advice we provide and protect any financial information we hold about you.
    NATURE AND SCOPE OF ADVICE

    We help our clients with their lending and mortgage needs, and their personal risk insurance covers. The types of financial products we can help you with include the following:

    • • Home loans, including loans for first home buyers.
    • • Investment property loans
    • • Refinancing
    • • Business and Commercial loans
    • • Construction and home improvement loans
    • • Mortgage restructuring through Mortgage Genius Plan®
    • • Debt Consolidation
    • • Vehicle Finance
    • • Life Insurance
    • • Critical Illness and Trauma Insurance
    • • Total and Permanent Disability insurance
    • • Mortgage Repayment Cover
    • • Redundancy Cover
    • • Medical / Health Insurance
    • • Income Protection Insurance
    • • Business Protection Cover
    • • Key Person Insurance Cover
    • • ACC

    One of the services we offer to help put you in control of your mortgage payments is our Mortgage Genius Plan® – an efficient and effective money management tool we have developed to help the customers to repay their loan faster. Our friendly advisers can walk you through how this works to see if it might be a good option for you.

    To help get the best deals for our clients and ensure our team is truly expert in the product options they advise on, we only work with a select number of product providers:

        • • For Mortgages, we work with Banks and Non-Bank Lenders such as ANZ, ASB, Westpac, BNZ, Sovereign Home Loans, Kiwibank, SBS, Heartland Bank, Resimac, Bluestone, Avanti Finance, Pepper Money, ASAP Finance, First Mortgage Trust, NZMS, Oxford Finance, Basecorp Finance, Get Capital, Spotcap, Prospa, DBR, Southern Cross Finance, Cressida Capital, MBG, Austar Finance. The list of lenders may change from time to time.

       

        • • For Personal Risk insurance, we work with Personal Risk Insurance Providers such as AIA NZ, Cigna, Asteron, Partners Life, AMP, Fidelity Life. The list of Personal Risk Insurance Providers may change from time to time.

       

    • • For Health Insurance, we work with Health Cover Providers such as Southern Cross Health Insurance, NIB, AIA NZ, Partners Life. The list of Health Risk Insurance Providers may change from time to time.

    In advising clients on personal insurances where they already have some cover in place, we will only consider existing term life, critical illness, trauma, TPD, income protection /mortgage repayment/redundancy cover and health insurance policies. We do not provide advice on existing whole of life or endowment policies, or on any form of savings or investment product outside of financing properties, so you will need to consult someone else if you would like advice on any of those products.

    We also do not provide advice on Investment, Legal, or Taxation matters.

    FEES, EXPENSES, OR OTHER AMOUNTS PAYABLE

    We do not typically charge our clients any fees, expenses or other amounts for the financial advice and other services we provide. Instead, our services are paid for through the commissions and other payments we receive from the lenders we assist you to obtain financing from, and from the insurers whose policies we help you take out.

    The following circumstances are the main exceptions to our no fees policy:

    • 1. You decide not to take the loan arranged by us, or
    • 2. You refinance or pay off a loan within 36 months of taking it out, or
    • 3. You cancel a personal risk insurance policy within two years of cover commencing.

    Detailed information about the Commission Earnings & Service Charges will be provided to you when you receive financial advice from us. This information is also available upon request, free of cost.

    CONFLICTS OF INTEREST AND COMMISSIONS:

    All our financial advisers and nominated representatives are salary based. We are committed to ensuring we provide financial advice that is impartial and delivers good outcomes for our clients.

    To ensure that our financial advisers and nominated representatives prioritise our clients’ interests above their own, we follow an advice process that ensures our recommendations and other advice are appropriate for each client’s goals and circumstances. All our financial advisers and nominated representatives undergo ongoing training about how to manage conflicts of interest.

    GFS reviews its compliance programme each year to ensure we are aligned with best industry practice.

    GFS receives upfront as well as on going commissions from the providers whose products we advise on i.e. the lenders we help you obtain finance from, and the insurers whose policies you take out with our assistance.

    Sometimes banks and insurers we work with may also reward or recognise us for the overall business we provide them. For example, they may give us tickets to sports events or invite us to social functions or send us gifts.

    They may also invite us to conferences or provide us with training, to help improve the quality of the services we provide.

    All our financial advisers and nominated representatives are trained to work in the best interest of our customers. Therefore, our services generally do not come at a cost to you except in some circumstances as described above.

    COMPLAINTS

    If you are not satisfied with our services, you can make a complaint by emailing us at complaints@globalfinance.co.nz, or by calling us at 09 255 55 00.

    When we receive a complaint, we will consider it and follow our internal complaints resolution process:

      • • If we can resolve your concerns to your satisfaction on the spot, we will do so. If not, we will contact you to acknowledge receipt of your complaint – usually within two working days of receiving your complaint, unless that is not practicable in the circumstances – and let you know how we intend to resolve it. Note that we may need to contact you to get further information about your complaint before we are able to resolve it properly.
      • • We aim to resolve complaints within 10 working days of receiving them. If we cannot, we will contact you within that time to let you know we need more time to consider your complaint.
      • • You will be contacted by phone or email to let you know whether we can resolve your complaint and how we propose to do so.

    If we cannot resolve your complaint using our internal complaints resolution process, or if you are not satisfied with the way we have attempted to resolve your complaint, you can contact an external Government approved dispute resolution scheme provider. In our case it is Financial Services Complaints Limited (FSCL).

    FSCL provides a free, independent dispute resolution service that may help investigate or resolve your complaint if we have not been able to resolve your complaint to your satisfaction.

    You can contact FSCL by emailing complaints@fscl.org.nz, or by calling 0800 347 257 (free phone). You can also write to them at PO Box 5967, Lambton Quay, Wellington 6145.

    CONTACT DETAILS

    Global Financial Services Ltd
    Units 18-22/203 Kirkbride Road, Airport Oaks, Auckland 2022
    09 2555500

    Global Financial Services Ltd
    28E Lambie Drive, Manukau, Auckland 2104
    09 2635555

    Global Financial Services Ltd
    103 Lincoln Road, Henderson, Auckland 0610
    09 8365555

    Global Financial Services Ltd
    16/83 Pyes Pa Road, Tauranga 3112
    07 5770011

    Postal address: PO Box 24087, Royal Oak, Auckland 1023
    info@globalfinance.co.nz

    www.globalfinance.co.nz