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craig@craigpopefinancial.co.nz

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We help people make their dreams come true

IMPORTANT INFORMATION ABOUT

What you need to know and important information about my business

Licencing Information

Craig Pope Financial Services Limited (trading as Craig Pope Financial) holds a licence issued by the Financial Markets Authority (FMA) to provide financial advice. The Financial Services Provider Number (FSP) is 1004103.

Our Office & Contact Details

Full name: Craig William Pope FSP22361

Address: Unit 5b (upstairs), 18 Seaview Road Paraparaumu 5032 Postal Address: PO Box 334, Paraparaumu 5254

Phone: 0275 476 739 or 0800 000 518

Email: craig@craigpopefinancial.co.nz or admin@craigpopefinancial.co.nz

Website: www.craigpopefinancial.co.nz

Nature and Scope of Financial Services

Any financial advice given to you on our behalf will be based on the information you have provided about your needs, financial situation, or goals; therefore, it is important you disclose your financial and personal position and goals to the best of your ability.

Our services we give advice on:

  •  Home loans – first and second mortgages, refinances, top ups, bridging finance, preapprovals, mortgage reviews

    • Investment property loans including commercial  
    • Personal loans, asset/equipment finance
    • Business loans
    • Debt reduction, money planning and budget advice

    We do not provide financial advice services relating to: Legal, Estate Planning (wills, trusts, EPAs, contracts etc), investment products/KiwiSaver or personal/general insurance advice but can refer you to an appropriate specialist if required.

Product providers we might recommend include

  • ANZ Bank New Zealand Limited, ASB Bank Limited, Avanti Finance Limited, Basecorp Finance Limited, Bank of New Zealand, DBR Limited, Unity, Southern Cross Finance Limited, Pepper New Zealand Limited, Resimac Financial Securities Limited, AIA Sovereign, Kiwi Bank, Westpac New Zealand Limited, The Co-operative Bank Limited, Cressida Capital One Limited, ASAP Finance Limited, Liberty Financial Limited, TSB Bank, SBS Bank, First Mortgage Trust, Heartland Reverse Mortgages, Bank of China, China Construction Bank, Funding Partners CFML, Bluestone, Private Lender if needed

Commission, Fees and Costs

The following section outlines our commission, fees and other costs that may apply.

Commission

Generally, you won’t be charged for engaging our service to arrange lending. This is possible because, on settlement of a loan, most mainstream Banks, and some

Nonbank lenders will pay an Adviser (us) an initial (upfront) commission when the loan is drawdown. This is normally a percentage of the loan facility ranging from 0.40% – 0.85% depending on the product provider.

Some lenders pay an ongoing (trail) commission and is a percentage of the value of your outstanding loan amount, usually calculated at the end of each month of which you hold the loan. Only some product providers pay this ongoing commission, normally at a rate of .10% – .20% of the loan balance.

I may also receive a small commission from the lender for re-fixing your loan.

From time to time, I may receive a gift (e.g. Christmas), coffee, lunch, or event tickets from a lender. Any exceptions to this general position are explained below.

Fees & Costs

One off Fees

In some circumstances I will need to charge you a fee for my services. If this is the case, I will discuss this with you up front & we will agree on the fee and confirm in

writing before any applications are undertaken or loan offer accepted. This would be based on an hourly rate of $225 or up to 1% of the loan amount (no GST).

This could be in the following circumstances, but not limited to:

  • Arranging finance with a Lender on your behalf, who does not pay any commissions & I need to cover my time, service, overheads and expertise. For example, this could apply to situations (but not limited to) such as commercial/business loans, small top ups, caveat/personal loans, 2nd mortgages, bridging finance, restructures, mortgage reviews, short term finance and complex applications such as adverse credit history or where the lender commission will not adequately cover my time
  • Completing a restructure and or review of your current lending, where no commission is paid by the Lender
  • Where I provide consultation services for you where there is no new lending, but time is taken, and formal advice and/or plan is provided
  • Top ups on existing home loans where there is less than $100,000 of new

Lending

  • A full face to face review of your financial position, with budgeting, debt reduction and mortgage planning advice. Or meeting to set goals and preparation for a home loan application in 6 or more months

Lender Clawback fees

It’s important you fully disclose to us any plans to pay down any lending within 19 months from house sale, refinance or large cash injections that could cause us a ‘commission clawback’.

If a mortgage is repaid within 19 months of your mortgage settlement, Craig Pope Financial will likely have to repay some or all of the ‘upfront’ commission received, back to the Lender. This is known as ‘commission clawback’.

If Craig Pope Financial is charged with a commission clawback, due to early settlement, or repayment (partial or in full) of the mortgage arranged for you, then Craig Pope Financial may charge you a ‘clawback’ fee.

The fee would be a maximum of up to 15 hours at $225 per hour. This is based on an average file processing time including overheads, loan processing and advice given. The fee however would not exceed what was originally paid to us by the lender.

Other fees

Please advise us at the start, or during, the process of engaging our service, if you are engaging other banks or brokers directly. In this instance I may charge an admin fee for my time should we

obtain an approval/or spend considerable time on a proposal and you source the finance elsewhere via another broker or bank directly within 7 months of this engagement. This includes non-disclosure of critical information that hinders our

ability to obtain a solution causing additional work. Our admin fee would not exceed $2,250 based on 10 hours admin time at $225 per hour.

Any fees are payable on invoice within 7 days unless otherwise arranged.

Please note you are responsible for other costs such as legal fees, valuation fees, building report costs etc as part of the advice and home buying process.

Conflicts of interest or other incentives

We are not aware of any conflicts of interest.

We are here for our clients and to advise you as best we can. Your interests are our priority although we do have business relationships with product providers also.

From time to time, I may receive a gift (e.g. Christmas), coffee, lunch or event tickets from a lender.

From time to time our product providers assist us with funding so we can bring our advisers together for conferences and professional development training.

(Discounted CRM, subsidized training for advisers or other non-monetary benefits.) (Set targets or volume-based agreements or contracts with providers)

How we manage any conflicts of interest

To ensure our advisers prioritise our clients’ interests:

  • We follow an advice process that ensures our recommendations are made appropriately, based on clients’ goals and circumstances.
  • All our advisers undergo annual training about how to manage conflicts of interest.
  • We maintain registers of conflicts of interests and the gifts and incentives we receive. These registers are monitored regularly, and additional training is provided as required.
  • We undertake an annual independent Compliance Assurance Review.

    Our duties and obligations to you

    We are bound by the duties of the Financial Markets Conduct Act (431I, 431K, 431L and 431M) to:

    • Meet the standards of competence, knowledge and skill set out in the Code of Conduct
    • Give priority to the clients’ interest and
    • Exercise care, diligence and skill and
    • Meet the standards of ethical behaviour, conduct, and client care set out in the Code of

    Our Internal complaints process

    If you have a problem, concern or complaint about any part of our advice or service, please tell us so that we can try to fix the problem.

    Our internal complaints manager is Craig Pope who can be reached via email at admin@craigpopefinancial.co.nz or 0275 476 739. We will reply to you within 2 working days.

    Our internal complaints handling process is as follows:

    1. Existing clients can select the ‘Complaint’ button in their profile or at the bottom of the portal webpage. If you are not an existing Client, please email our internal complaints manager at admin@craigpopefinancial.co.nz
    2. We will reply within 2 working days
    3. We will resolve your complaint within 20 working days Our external complaints process

    If we cannot agree on how to fix the issue, or if you decide not to use the internal complaints scheme, you can contact our external disputes resolution scheme – Financial Services Complaints Limited. This service will cost you nothing and will help us resolve any complaints. Our membership number is 803

    You can contact Financial Services Complaints Limited at:

    Address: PO Box 5967, Wellington 6140

    Phone number: 0800 347 257 or 04 472 3725 or info@fscl.org.nz

    If we cannot agree on how to fix the issue, or if you decide not to use the internal complaints scheme, you can contact our external disputes resolution scheme – Financial Services Complaints Ltd (FSCL) – A Financial Ombudsman Service. This service will cost you nothing and will help us resolve any complaints. Our membership number is 803.

    ACKNOWLEDGEMENT

    I/We confirm that I/We have read and acknowledge the terms and information included in this disclosure statement:

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