Fundmaster 2020 Limited (FSP trading as ( Fundmaster ) holds a Financial Advice Provider licence (FAP). The Fundmaster Limited (FSP664871) and Fundmaster Mortgage Limited ( FSP741131) are authorised bodies operating under its FAP. Both have been operating under Fundmaster and The Fundmaster trading names. Both now use Fundmaster as their trading name.
Fundmaster can only provide advice to clients about the below mentioned financial products and providers:
Please note that we do not advise on any other financial products.
Fundmaster/The Fundmaster is paid by the product providers it uses for the service it provides you, if you remain with the product for a minimum of 24-36 months. This period will depend on the product provider you choose as well as the financial product. We will be able to give you the specific timeframe when we provide the advice.
The insurance provider/lender also pay us an ongoing commission for the duration of the period that you continue to use the insurance service or mortgage that based on our advice.
If we provide you advice and you decide not to proceed with the advice, after we have met you collected the information you provide, assessed the information against suitable products and made recommendations, we may charge you a fee for the work we have undertaken for you.
We do not charge for the first two hours work we do for client. Therefore, if clients do not proceed on the advice there will be no charge for the first two hours work that we undertake. There will be a per hour charge after the first two hours. The charge varies depending on the complexity of the work we have undertaken for our client.
We will also charge a fee if our client cancels the insurance within 24 months. The fee will depend on the annual premium for the insurance. In any case, it will not be in excess of $2000 +GST.
If our client decides to refinance, or prematurely repay partially or in full, any of their existing lending, the lender might reserve the right ask us to repay the commission that they had paid us.
This could be charged at a flat rate or a sliding scale rate. In a sliding scale we repay less of the commission that was paid to us. This depends on the period that you continued with the mortgage. We will invoice you for the full amount that the lender requires us to repay.
Should the nature of the advice you seek, require you to pay us any other fees, we will inform you of them when we agree upon the scope of advice, This will be done before you sign our terms of engagement. We will also provide you more details of the fees before you agree to our terms and conditions of service.
We will provide you with more information about our fees/commissions before you decide to engage us.
We will continue the engagement only when we are satisfied that you understand our fee/commission structure and accept it.
For life and health insurance, ( Authorised Body ) and our financial advisers receive commission from the providers on whose products we give financial advice. To ensure there is no conflict of interest and we prioritise our clients’ interest we do the following:
If our client is not satisfied with our financial advice service they can make a complaint by emailing the complaint to firstname.lastname@example.org or by calling: 0800 386 362. They can also write to us at: 107C Great South Road, Epsom, Auckland.
Our internal complaints management process is as below:
FSCL provides a free, independent dispute resolution service that may help investigate or resolve complaints against financial service providers who also are members of their scheme.
Clients can contact FSCL by emailing email@example.com or by calling: 0800 347 257. They can also write to FSLC at: PO Box 5967, Wellington 6140.
Fundmaster Limited 2020 has developed the following principles to guide the activities and behaviour of financial advisers and authorised bodies with clients during financial advice engagement
As financial advisers, we place the interest of our client first, We will at all times act honestly, in utmost good faith, and in a manner, we in good faith, believe to be in the best interest of our client.
The relationship between us and our clients is one of trust. It is of utmost importance to us , that our clients to have complete confidence in our service. We will always exercise discretion and use our expertise for the benefit of our clients.
As financial advisers, we must meet professional conduct and ethical standards, that are mandatory under the Financial Markets Conduct Act 2013 (FMCA) Financial Services Legislation Amendment Act 2019 (FSLAA) and any Regulations made under these Act.
We will treat our clients fairly with respect and without any bias, that may arise at any time due to any factor that we become aware of.
We will only advise on financial products and services that we have expertise in, are part of the license, and are with an agreed scope of service with our client.
We disclose all information that we in good faith believe our client requires to help them make an informed decision about engaging us and proceeding with our recommendations.
Along with this information, disclosure is done during our client acceptance process, when we provide our statement of advice and on an ongoing basis. For example, when there are material changes to our client’s requirements or any other factors that might affect our client’s decision about our advice.
Such disclosure includes:
a) How we are getting compensated by the product providers. This information will be provided in the form of a range of commission payable to an most accurate ratio or percentage, when such a ratio or percentage is available to us;
b) Details about the benefit and the risk associated with any products about which we advise our clients;
c) Details about our license and our complaints management process;
d) Any conflict of interest.
A financial adviser-client relationship is transparent and based on open and regular communication about our client’s financial position and requirement for financial services or products.
We convey information about our operational practices or philosophy, or any impending actions or consequences to enable our clients to anticipate or mitigate their impacts.
We ensure that we have the required skills to provide suitable financial advice to client by the means below:
a) Adhere to competence requirement of FSLAA and FMCA and regulations made under these Acts.
b) By ongoing training and market education about the product and services.
Phone – 0800 386 362
Email – firstname.lastname@example.org
Address – 107C Great South Road, Epsom, Auckland