Important information about our business
Moneyvest Management Limited (FSP1012204) t/a MFINITY holds a Financial Advice Provider licence issued by the FMA to provide financial advice services.
Our office contact details:
Address: 7 Alluvial Street Flatbush Auckland 2019
Phone: 027 247 1700
Email: admin@mfinity.co.nz
Website: www.mfinity.co.nz
Nature and scope of the financial advice given
MFINITY provides advice to our clients about their life & health insurances, home mortgages, and KiwiSaver.
We provide financial advice about products from the following providers:
Lenders
AIA Go Home Loan
ANZ
ASB
Avanti Finance
Basecorp Finance
BNZ
Co-operative Bank
Cressida
DBR
Kiwibank
Liberty
SBS Bank
Westpac
Insurance
Accuro
AIA
Asteron Life
NIB
Partners Life
KiwiSaver
Booster
Generate
NZ Funds
Personal and Car Loan
Gem Latitude
Finance Now
Please contact us if you want more details regarding our partner providers.
No fees, expenses or other amounts payable for our financial advice
MFINITY may charge a fee for the financial advice provided to a client where a client repays or refinances a mortgage or cancels a life or health insurance policy within two years of inception. Whether a fee will be charged and the manner in which it will be charged will be advised when the advice is provided to the client.
To avoid the fee being charged, you can discuss your requirements prior to cancellation, reduction, or changes with us, we are happy to reassess your cover should your circumstances change.
How We Are Paid (Commissions and Incentives)
Insurance (Life and Health)
If you take out insurance policy following our advice, MFINITY and your financial adviser will receive a commission from the insurer. This commission is generally calculated as a percentage of the premium and may consist of an upfront payment and ongoing payments.
Mortgages
If you proceed with a mortgage arranged by us, MFINITY and your financial adviser will receive a commission from the lender. This commission is generally based on the loan amount and may include an upfront payment and, in some cases, an ongoing payment.
KiwiSaver
If you choose to invest in a KiwiSaver scheme based on our advice, MFINITY and your financial adviser will receive commissions from the KiwiSaver provider. This may include an initial payment and ongoing payments, typically based on your KiwiSaver account balance.
In situations where we are not giving advice, but instead referring your business to an external provider, we may be paid the following fees.
Tower – Fire & General Insurance – 10% of company premium
Personal Loans – up to 3% of loan amount
Car Loans – up to 3% of loan amount
Conflicts of interest and commissions or other incentives
To ensure that our financial advisers prioritize the client’s interests above their own, we follow an advice process that ensures our recommendations are made on the basis of the client’s goals and circumstances.
All our financial advisers undergo annual training about how to manage conflicts of interest.
We also undertake regular compliance audits, and a review of our compliance programme annually by a reputable compliance consultancy firm.
How we provide our financial advice
When we provide financial adviser services, we follow the internationally recognized six steps process as follows:
Establish the client / adviser relationship
Gather client information to determine the client’s goals and objectives
Analyze and evaluate the client’s financial status, which may include their financial situation, financial needs, financial goals, and tolerance for risk
Develop and present recommendations and/or alternatives in writing
Implement the agreed recommendations
Monitor and review the financial adviser services
Our Duties
MFINITY 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.
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:
Company Name: Moneyvest Management Limited t/a MFINITY
Attention: The Complaints Manager, Nowell Legano
Address: 7 Alluvial Street Flatbush Auckland
Telephone: 021 356 510
Email address: admin@mfinity.co.nz
Website: www.mfinity.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:
Company Name: Financial Services Complaints Limited
Address: Level 4, Sybase House, 101 Lambton Quay, Wellington 6011
Postal Address: PO Box 5967, Wellington 6140
Telephone: 0800 347 257 (freephone if within New Zealand) or +64 4 472 3725 (if calling outside New Zealand)
Email address: complaints@fscl.org.nz
Website: http://www.fscl.org.nz
They will investigate your complaint and work to facilitate an agreed resolution. If this is not possible Financial Services Complaints Limited may make a formal decision which is binding on us, but not you unless you accept the decision. The process is free to you and the Scheme will assist you to lodge your complaint.
