Finsol Financial Services Limited/Finsol and Finsol Insurance and Mortgage Brokers is licensed by the Financial Markets Authority (the Government agency that monitors financial markets in New Zealand) as a Financial Advice Provider.
Our Financial Services Provider Number is FSP627069.
You can find us on the Financial Services Register here.
Our Contact Details:
Providers we work with:
For Life and Health Insurance, our main providers include, but are not limited to:
For Home Loans and lending, our main providers include, but are not limited to:
Our KiwiSaver provider is Booster.
If a provider other than the above has a particular product that you are interested in, please let us know as we will be happy to provide advice on that basis.
If you require specialist taxation or estate advice, we will make recommendations on how important these are concerning the advice we have provided and, if requested, refer you to the relevant trusted professional.
We are paid commission by insurers and lenders when an insurance policy or a loan application is finalised and complete.
For insurance, commissions rates paid by the insurer are:
For loans, commission rates paid by the lender are:
For KiwiSaver, commission rates paid by Booster are:
Between 0.00% and 0.50% per annum of the total KiwiSaver balance.
Because we are paid commission from the insurance provider, we do not charge fees.
Financial advice fee
A fee may apply for additional financial advice required to secure lending.
Advice fee = number of hours worked x $250 per hour + GST for a minimum of two hours.
Nil commission fee
In some cases with certain lenders where commission isn’t paid, we will charge a fee of between 0.75% and 1.25% of the total loan amount.
Bridging finance fee
In some cases, when the advice provided is in relation to bridging finance, we charge a fee of between 0.75% and 1.25% of the total loan amount.
Lending Withdrawal/Cancellation fee
If substantial work has been undertaken to prepare and/or submit your application and you withdraw, transfer or cancel, you will be charged a fee. We will use the following formula to calculate the fee:
Withdrawal fee = number of hours worked x $250 per hour + GST for a minimum of two hours.
Administration fee = number of hours worked x $50 per hour + GST for a minimum of two hours.
Fees be invoiced accordingly and payable on the 20th of the month following the withdrawal of your loan application or once your advice has been provided. Your invoice will include details of how to make payment.
All and any such fees will be clearly disclosed and discussed with you before you commit to any financial transaction.
For any other lending services, we receive commission from the lender, and we do not charge a fee.
We do not charge fees for KiwiSaver advice as we receive commission from Booster KiwiSaver.
Six-Step Advice Process
1. Establishing the client-adviser relationship.
2. Gathering client data and determining their goals and expectations.
3. Analysing and evaluating the client’s financial position, including the client’s cash and debt management, personal and business insurance, retirement and estate planning needs and or investment needs.
4. Developing and presenting our written advice.
5. Overseeing the implementation of the plan.
6. Monitoring and reviewing the plan.
All our financial advisers undergo annual training about how to manage conflicts of interest. We also maintain a register of conflicts of interests.
We are bound by the duties of the Financial Markets Conduct Act (431I, 431K, 431L, 431M) to:
Neither Finsol nor any of its employees have been subject to any material public discipline, relevant convictions or civil proceedings, and in the case of financial advisers, any bankruptcies or insolvencies.
Our Internal Complaints Process
If you have a problem, concern, or complaint about any part of our advice or service, please tell us as soon as possible so that we can try to fix the problem.
You can contact our internal complaints manager at:
Alternatively, you can lodge a complaint directly with your adviser.
Anne will respond to you within 24 hours and will try to resolve your complaint. When we receive a complaint, we will assess it by following our internal complaints process:
Our External Complaints Process
If we cannot agree on how to fix the issues, you can contact our external dispute resolution scheme, FSCL. This service will cost you nothing and will help us resolve any disagreements.
You can contact the FSCL at:
Financial Services Complaints Limited
0800 347 257
PO Box 5967, Lambton Quay, Wellington, 6145
Finsol and its advisers are covered under a Professional Indemnity Insurance policy.
This insurance is underwritten by Dual New Zealand Ltd. As with all insurance policies, there are terms, conditions and exclusions that may apply.