Straight Up and Transparent Disclosure Information

Paradise Financial Limited is a Licensed Financial Advice Provider issued by the FMA to provide financial advice services. Financial Services Provider Number is 1007217.

Our office contact details:

Address: 4/900 Woodbank Road, Hanmer Springs
Postal address: PO Box 123, Hanmer Springs 7630
Phone: 021902809
Email: [email protected]
Website: paradisefinancial.co.nz

Our Advisers
Monique Gravatt FSP1007416 contact 0211558059 [email protected]
Jackie Thomas FSP1007218 contact 021902809 [email protected]

Mortgage providers we work with:

ANZ, ASB, BNZ, Westpac, Kiwibank, ASB Go Home Loans, Co-Operative, SBS, Unity
Pepper Money, Prospa, Heartland, Avanti, Funding Partners, Liberty, CMFL, Bluestone Home Loans, Bizcap, Basecorp Finance, Cressida Capital, Finbase, First Mortgage Trust, Go Lend, Plus Finance, Vincent Captial, Xceda

KiwiSaver providers we work with: 

Booster, Generate, Kernel, Milford, Pathfinder

Products we can provide financial advice about:

• Residential lending including new purchase, refinance, top-ups, construction, refix, restructure & debt consolidation
• Personal lending including car loans, asset loans, debt consolidation
• KiwiSaver: Comparing providers. Selecting the appropriate fund type (for example conservative, balanced, growth) Retirement projections & contribution strategies

We do not provide financial advice services relating to:

• Legal or estate planning (e.g. wills, trusts, contracts, etc.)
• Accounting or business planning
• General Insurance advice
• Personal Insurance advice
• Investment products (e.g. shares, bonds, managed funds)

You will need to consult an appropriate specialist if you would like advice on the above. We can refer you to specialists we have worked with before if you prefer.

Mortgage

Our financial advisers may receive commissions at settlement from the relevant lender if you choose to take out a mortgage following our advice. The commissions are between 0.5% and 0.85% of the initial mortgage balance or amount funded. Our financial advisors may/will also receive 0.15% to 0.2% of the mortgage balance on each anniversary or a fee upon refixing your borrowing.

The commission your financial advisers receive is shared with Paradise Financial Limited for providing compliance support, training, and back-office support.

Our financial advisers are paid commissions by lenders when a mortgage settles and in some cases at the mortgage anniversary each year.

Should we refer to an external provider for advice on services that are outside of scope, we may receive a referral fee or commission. This will be disclosed at the recommendation of the referral.

KiwiSaver 

If you become a member of the recommended KiwiSaver Scheme:

• You will pay fees in connection with your membership. These fees are set out in the relevant Product Disclosure Statement & Statement of Advice document.
• I may receive commission for introducing you to the chosen provider and for any advice provided to you. The commission is up to $300 on joining the Scheme (depending on the provider and size of your contributions within the first 12 months), and an ongoing amount, no greater than 0.5% per annum of your account balance. These costs are generally paid from the revenue received by the provider from the fees you pay to them and in some cases the ongoing amount is added to your management fee.
• I may from time to time receive non-monetary benefits such as promotional or Christmas gifts and industry or social invitations.

I may refer you to other service providers, including Generate Managed Funds. Therefore, I need to disclose that if you decide to invest with Generate, I will receive a commission for referring you. The commission is an ongoing payment of 0.125% of your account balance. This fee is paid to me by Generate from the revenue they receive from the fees you pay.

Our financial advisers ensure that we prioritise your interests by following an advice process that considers your circumstances and goals. Our financial advisers research suitable products and providers to ensure the advice meets your needs.

Our financial advisers also undergo annual training on how to manage any conflicts of interest and record any conflicts in a register that we review and manage.

Paradise Financial Limited is subject to a yearly audit and compliance reviews to ensure we meet our obligations while doing right by our clients.

Our financial advisers do not charge you a fee if you decide to take a loan.  The lender may pay us a commission if you decide to take up our advice and when your loan settles. However, our financial advisers may charge you for the financial advice that we provide if you cancel or refinance your mortgage within the first two years after it settles.

We use the following formula to calculate the fee – $2,500 for 10 hours of work (calculated at $250 per hour)

Or if you decide not to act on our advice, then our financial advisers will charge you an hourly fee of $250 for the services performed. This will be based on the time it has taken to prepare our advice.

A reliability event is something that may materially influence your decision on seeking advice from Paradise Financial Limited or from our financial advisers. Some examples of reliability events are legal proceedings against one of our financial advisers or if we have been bankrupt in the last four years.

Neither Paradise Financial Limited nor our financial advisers have been subject to a reliability event.

Our Internal Complaints Process

Our internal complaints manager is Jackie Thomas who can be reached via email at [email protected] or 021 902 809. They will reply to you within 3 working days.

Our internal complaints handling process

• To lodge a complaint, please email your complaint to our internal complaints’ manager: [email protected]
• We will reply to you within 3 business days.
• We will aim to resolve your complaint within 10 working days.

Lodge a Complaint

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 (FSCL). This service will cost you nothing, and will help us resolve any complaints.

You can contact Financial Services Complaints Limited (FSCL)

Address
PO Box 5967, Wellington 6140

Phone
0800 347 257

Email
[email protected]