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Financial Advice Provider Licence Disclosure
Mortgage Mart NZ Ltd FSP755011 holds a licence issued by the Financial Markets Authority to provide a financial advice service.
Mortgage Mart (NZ) Ltd employs Robert Thumath FSP116885 as Financial Adviser
Nature and Scope of the Financial Advice Provided
Mortgage Mart NZ Ltd provides financial advice relating to the following financial products:
Mortgages, life insurance products and health insurance, General Insurance,
(home, contents and car), KiwiSaver and other managed investment products.
We only provide financial advice about products from certain providers although this list can change from time to time:
Mortgages and personal or car loans provided by:
ASAP Property Finance
Bank of China
First Mortgage Trust
Heartland Bank Open 4 Business and Senior Finance
Southern Cross Partners
Other finance companies and private lenders from time to time as required
Life, Trauma and disability Income Protection insurance products provided by:
Health Insurance provided by
KiwiSaver, superannuation and investment products:
NZ Funds KiwiSaver Scheme
NZ Funds Wealth Builder
NZ Funds Income Generator
We will not provide advice on any existing KiwiSaver or Investment products that a client may hold, unless that advice is incidental to our advice on one of the products that we do advise on (e.g. if we advise a client with an existing KiwiSaver investment to join the NZ Funds KiwiSaver Scheme or Generate KiwiSaver Scheme, an incidental part of our advice is that they exit from their current KiwiSaver scheme).
General Insurance (Home, Contents & Car)
Mortgage Mart (NZ) Ltd works with you to determine what risks you wish to cover and provide quotes based on the levels of cover you wish to put in place. We work with you to determine whether there are any particular risks you have that need to be specified during the application process.
Mortgage Mart (NZ) Ltd services are limited to the following General Insurance providers:
Blanket Insurance, provided by The Hollard Insurance Company Pty Ltd (Hollard).
Administration of this insurance and claims handling services are managed by Ando Insurance Group Limited (Ando) on behalf of Hollard. Hollard is a licensed insurer in New Zealand under section 19 of the Insurance (Prudential Supervision) Act 2010.
At times particularly with more complex requirements we will provide a referral only service
Tower Insurance. We provide a referral only service with Tower Insurance
In place of an upfront fee, Mortgage Mart (NZ) Ltd is paid a commission by the recommended insurance provider from the premium they charge you for your cover.
Mortgage Mart (NZ) Ltd do not receive any bonus or sales based bonus payments from Blanket Insurance or Tower Insurance.
To ensure your needs are prioritised you will receive a written advice document that outlines the cover and why it was implemented over other providers
Mortgage Mart NZ Ltd does not generally provide financial advice on products not listed above. However, some clients may have investments in other financial products. Where this is the case, we may provide advice on those products as part of providing financial advice to these clients.
Fees and Expenses
Mortgage Mart NZ Ltd may charge the following fees for financial advice:
For mortgages and loans. An initial advice fee for the time involved in meeting a client, obtaining all necessary information, and preparing and presenting a proposal MAY be charged. IN MOST CASES THIS FEE IS PAID BY THE RELEVANT LENDER so no fee is payable by the client. If a fee is payable by the client then this will always be disclosed at the beginning of the process and acknowledgment and agreement received before proceeding
Where requested by a client, undertaking a specific assignment, for which an agreed consultancy fee may be charged.
When a mortgage or loan or a life insurance product is repaid or cancelled within 26 months a fee may be charged. This fee by specific agreement from time to time
Mortgage Mart (NZ) Ltd our advisers and anyone who gives advice on our behalf are bound by legal duties to:
Meet the legal standards of competence, knowledge and skill set by the Code of Professional Conduct for Financial Advice Services (these are designed to make sure that we have the expertise needed to provide you with advice);
Give priority to the client’s interests;
Exercise care, diligence and skill; and
Meet standards of ethical behaviour, conduct and client care set by the Code of Professional Conduct for Financial Advice Services (these are designed to make sure that we treat you as we should and give you suitable advice).
This is only a summary of the duties that we have. More information is available by contacting us, or by visiting the Financial Markets Authority website at
Conflicts of Interest, Commissions and Incentives
Our financial advisers are remunerated by way of salary and bonus
Mortgage Mart NZ Ltd may receive commissions from the managed investment scheme managers on whose products we provide financial advice or in which our clients invest, insurance companies on whose policies we provide financial advice, and from the banks with whom we arrange mortgages.
These commissions are based on the amount of the sum invested, insurance premiums paid or mortgage (as applicable).
Details of these commissions are as follows:
For home loans
Mortgage Mart (NZ) Ltd receives a payment upon settlement of between 0.5% to 0.85% of loan amount depending on loan provider. Some lenders will also provide an ongoing payment of up to 0.2% of outstanding loan amount annually
For Personal Risk (Life Insurance products)
Mortgage Mart (NZ) Ltd is paid an upfront fee of up to 200% of annual risk premium. It also receives an ongoing payment of up to 15% of annual risk premium to pay for ongoing service
One provider at present offers a further 30% of annual risk premium to cover business administration
For KiwiSaver and Managed Funds
Mortgage Mart NZ Ltd receives commissions from New Zealand Funds Management Limited and from Generate KiwiSaver. These commissions include an upfront payment of up to $300 for each client that invests in the relevant KiwiSaver Scheme or other investment solution. Mortgage Mart NZ Ltd also receives an annual commission of up to 0.2% on amounts invested
For General Insurance
In place of an upfront fee, Mortgage Mart (NZ) Ltd is paid a commission by the recommended insurance provider from the premium they charge you depending on which insurance company you take out cover with.
If your cover is placed via Blanket Insurance the commission will range from 7.5% to 12.5% of each premium, depending on which insurance products you take out cover with, after taxes and levies.
At times we will refer you to a specialist Commercial Insurance Broker
We will receive a one off commission payment related to the annual premium of cover finalised
To ensure that Mortgage Mart NZ Ltd’s financial advisers prioritise each client’s interests above their own, they follow an advice process that is designed to ensure their recommendations are made on the basis of the client’s circumstances and financial goals and are suitable for the client. Mortgage Mart NZ Ltd also:
Has a quality assurance programme in place to monitor the advice our financial advisers provide;
Actively monitors compliance with our conflicts policies and procedures; and
Ensures training is provided to all Mortgage Mart NZ Ltd financial advisers about how to manage conflicts of interest.
A reliability event is something that might materially influence you in deciding whether to seek advice from me or from Mortgage Mart NZ Ltd.
This includes material instances where I or Mortgage Mart (NZ) Ltd have been publicly disciplined, have a relevant conviction or civil proceedings or any recent bankruptcies or insolvencies
Neither I nor Mortgage Mart NZ Ltd have been subject to a reliability event.
Complaints Handling and Dispute Resolution
Even with the best of intentions, complaints sometimes arise. Mortgage Mart NZ Ltd is committed to ensuring that all client complaints are handled and resolved in a professional, fair and timely manner in accordance with our Client Complaints Policy and associated procedures.
If you are not satisfied with our financial advice services, you can make a complaint by contacting us at:
Mortgage Mart NZ Ltd
PO Box 23129
T. 0800 222999
E. firstname.lastname@example.org Attention The Director
If we receive a complaint, we will consider it and let you know how we intend to resolve it. We may need to contact you to get further information about your complaint. We aim to resolve complaints within 10 working days of receiving them. If we can’t, 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 can’t resolve your complaint, or you aren’t satisfied with the way we propose to do so, you can contact Financial Disputes Resolution Scheme an approved dispute resolution scheme who provide a free, independent dispute resolution service that may help investigate or resolve your complaint.
You can contact Financial Disputes Resolution Scheme at:
Level 4, 142 Lambton Quay Wellington 6011
T. 0508 337337
Contact Details You can contact us at:
Mortgage Mart NZ Ltd
PO Box 23129
T. 0800 222999
Mortgage Mart NZ Ltd has been granted a license by Financial Markets Authority as a Financial Advice Provider and provides specialist Mortgage and Insurance advice as well as limited advice on KiwiSaver and managed investments We are physically located in Auckland and in Whakatane but serve businesses and families throughout the country. Our disclosure information is located HERE