Financial Advice – Disclosure
The information provided in this disclosure document is important
Licence status and conditions
Megan Ward Consultancy Limited (FSP778693), holds a licence issued by the Financial Markets Authority to provide financial advice. Tannadice Agencies Limited (FSP707031) is authorised by that licence to provide financial advice.
Nature and scope of the financial advice given
Megan Ward Consultancy Limited provides advice to our clients about their Personal Loans and Home Loans.
Product providers we are accredited with: ASB, ANZ, Co-operative, SBS Bank, Avanti Finance, Liberty, Prospa, Resimac Home Loans, Heartland Bank and Unity Credit Union, NZCU Baywide, First Mortgage Trust.
The financial advice will be based on the information you provide about your particular needs, financial situation and goals.
No fees, expenses or other amounts payable for our financial advice
We do not charge any fees, expenses or any other amounts for financial advice given to you.
If the financial adviser recommends any lending products for you that do incur a fee ( e.g. personal loan), you will be informed of the costs.
Early repayment fee
We may charge a fee for the financial advice provided to a client where a client repays their home loan within 28 months of settlement. This is due to the lender requiring us to repay all or part of the commission they paid us.
The amount of repayment will depend on the length of time that the loan has been in place, In this event, we will invoice you for this fee, and the invoice will be due within 7 days of issue.
Conflicts of interest and commissions or other incentives
For home loans, Megan Ward Consultancy and the financial adviser receive commissions from the lender whose products we give advice. If you decide to proceed with lending, the lender will pay a commission to Megan Ward Consultancy and your financial adviser. The amount of the commission is based on the amount of the loan drawn down.
To ensure that our financial advisers prioritise the client’s interest above their own, we follow an advice process that ensures our recommendations are made on the basis of the client’s goals and circumstances.
Our financial advisers undergo annual training about how to manage conflicts of interest. We undertake a compliance review of our compliance processes periodically by a reputable compliance consultancy firm.
Internal complaints process
If you have a problem, concern, or complaint about any part of the financial advice you have received from us, you may contact us using any of the following means:
Megan Ward Consultancy
- By Mail: 917 North Eyre Road, RD 5, West Eyreton
- Phone: 027 727 0007
- Email: megan@meganwardconsultancy.co.nz
When we receive a complaint, we will consider it following our internal complaints process:
• We will consider your complaint 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 Services Complaints Limited.
Dispute resolution process
If our internal complaints process does not resolve your complaint to your satisfaction, you can contact our external independent dispute resolution scheme. This service is free and may help investigate or resolve the complaint.
We are a member of the Financial Services Complaints Limited’s approved dispute resolution scheme. You can contact the Financial Services Complaints Limited at:
Financial Services Complaints Limited
Level 4, Sybase House, 101 Lambton Quay, Wellington 6011.
Telephone: 0800 347 257 or +64 4 472 3725
Postal: P O Box 5967, Wellington 6140
Email: complaints@fscl.org.nz
Website: www.fscl.org.nz
Our duties
Megan Ward Consultancy and anyone who gives financial advice on our behalf, have duties under the Financial Markets Conduct Act 2013 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 isn’t materially influenced by our own interests
• exercise care, diligence, and skill in providing you with advice
• meet 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)
• 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 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 https://www.fma.govt.nz.
The Code of Conduct standards can be read here: https://www.fma.govt.nz/assets/assets/code-of-professional-conduct-for-financial-advice-services.pdf.
Contact Details
Megan Ward Consultancy (FSP778693) is the Licensed Financial Advice Provider.
You can contact us at:
Megan Ward Consultancy
917 North Eyre Road, RD 5, West Eyreton
Phone: 027 727 0007
Email: megan@meganwardconsultancy.co.nz
This information is available in writing upon request.