Financial Advice Provider Disclosure Statement

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 25 years. Reviews about our services can be seen on Google, Facebook (GFSNZ), and Trust Pilot.

We have successfully arranged more than $19 billion of housing, business, commercial loans, and personal risk insurance covers since 1999.

We are currently located at the following physical locations:

OUR FINANCIAL ADVICE SERVICES

LICENCE STATUS

GFS holds a Full Class II Licence, issued by the Financial Markets Authority (FMA), to provide financial advice services.

GFS conducts it’s business through its financial advisers.

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 / Quick Life / Funeral Cover
• Accidental Death Benefit
• Trauma Insurance / Critical Illness Insurance
• Total and Permanent Disability insurance
• Mortgage Repayment Cover
• Income Protection Insurance
• Redundancy Cover
• Accidental / Specific Injury Cover
• Waiver of Premium Cover
• Medical Cover
• Key Person Insurance Cover
• Business Risk Insurance

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.

We try to fulfil our clients financial needs through a select number of product providers:

• For Mortgages, we work with Banks and Non-Bank Lenders such as ANZ, ASB, Westpac, BNZ, AIA Home Loans, Kiwibank, China Construction Bank (New Zealand) Limited, SBS, Heartland Bank, Avanti Finance, Pepper Money, ASAP Finance, First Mortgage Trust, NZMS, Oxford Finance, Basecorp Finance, Get Capital, Zip Business Loan, Prospa, DBR, Southern Cross Partners, Xceda Finance, MBG and 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, Chubb Life, Asteron, Partners Life, Resolution Life, Fidelity Life, NIB and Momentum 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.

USE OF ARTIFICIAL INTELLIGENCE

We may use Artificial Intelligence (AI) and other technology tools to help improve the efficiency, quality, and delivery of our services. Any advice, recommendations, and client communications remain subject to appropriate human review and oversight.

REFERRAL FEE ARRANGEMENTS

From time to time, GFS may run referral campaigns that are available to customers in accordance with the applicable campaign terms and conditions. During referral campaigns as per the T&Cs, we do give an opportunity to our customers to participate. To a successful referrer as per T&C’s, of the referral campaign, we may pay a referral fee of $250 to existing clients, staff members, or other referrers. This referral payment may create a conflict of interest. To manage this, our advisers are required to act in the client's interests and to provide advice that is not influenced by any referral arrangement.

Under these campaigns, GFS may pay a referral fee of $250 to existing clients, staff members, or other eligible referrers when a person they refer becomes a GFS client and proceeds with business through us.

To manage this risk, GFS maintains policies and procedures designed to identify, disclose, and manage conflicts of interest. Any advice provided by our advisers must be based on the client's individual circumstances, objectives, and needs, and must not be influenced by any referral arrangement or referral payment. Clients are encouraged to consider their own circumstances and seek independent advice if they are unsure whether our services are appropriate for them.

INSTRUCTIONS AND AUTHORITY FOR ONGOING SERVICES

For ongoing services and the implementation of transactions or changes to your financial products, we require your instructions and authority in writing by email. We will rely on those written instructions when acting on your behalf and will not be able to proceed without receiving them.

REFERRAL ARRANGEMENT DISCLOSURE

Global Financial Services Limited (GFS) has a referral arrangement with Tower Limited (Tower). With your consent, we may refer you to Tower for information about or access to general insurance products.

GFS does not provide financial advice on Tower insurance products. Any advice or recommendations about those products will be provided by Tower.

If you purchase a Tower insurance policy following a referral from GFS, Tower may pay GFS a commission of up to 10% of the policy premium (excluding GST, government levies, and other taxes and charges). This commission may also be paid on policy renewals. The commission is paid by Tower and does not result in an additional fee being charged to you.

Because GFS receives commission for successful referrals, a potential conflict of interest exists. We manage this by disclosing the arrangement, ensuring you are under no obligation to purchase a Tower product, and not providing advice on Tower insurance products.

You are free to consider alternative insurance providers and seek independent advice before making any decision. Please contact us in writing if you would like further information about this referral arrangement or the commission payable.

YOUR CHOICE

You are under no obligation to use Tower Insurance products or services following a referral from GFS. You are free to consider other providers and seek alternative quotes or advice before making any decision.

If you would like further information about our referral arrangement with Tower, including details of the referral fee applicable to a particular referral, please ask us and we will provide this information.

We 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 24 months of taking it out; or
3. You cancel your insurance policy or reduce cover within two years of first scheduled premium payment date

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 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 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 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 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 to 15 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.
• We will contact you 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 our external Government approved dispute resolution scheme provider, Financial Services Complaints Limited (FSCL) – A Financial Ombudsman Service.

Financial Services Complaints Limited (FSCL) – A Financial Ombudsman Service 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 Financial Services Complaints Limited (FSCL) – A Financial Ombudsman Service 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
09 255 5500

Global Financial Services Ltd
28E Lambie Drive, Manukau, Auckland 2104
09 263 5555

Global Financial Services Ltd
103 Lincoln Road, Henderson, Auckland 0610
09 836 5555

Global Financial Services Ltd
9c Apollo Drive, Rosedale, Auckland 0632
09 255 5591

Global Financial Services Ltd
Unit 26, 20 Clyde St, Hamilton East
07 577 0888

Global Financial Services Ltd
16/83 Pyes Pa Road, Tauranga 3112
07 577 0011

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