Wayne Henry Mortgages

Here is some general information about our business to help you decide if you want to seek our advice.

Name: Wayne Henry Mortgages Limited t/a Wayne Henry Mortgages

FSP Number: 733611

Phone: 0800 WHENRY (0800 943679)

Email: info@www.waynehenry.co.nz

Website: www.waynehenry.co.nz

Licensing information
We operate as a Financial Advice Provider in the name of Wayne Henry Mortgages Limited (FSP733611) under a current licence issued by the Financial Markets Authority in the name of NZ Financial Services Group Limited (FSP286965).

There are no conditions attached to this licence on the advice that may be given.

Our advice and Product Providers
We provide advice to our clients about home loan and lending products.

We only provide advice about products from certain providers, these are ANZ, ASAP Finance, ASB, Avanti Finance, Bluestone, Basecorp Finance, BNZ, CFML, Cressida Capital, The Co-operative Bank, DBR Finance, First Mortgage Trust, Kiwibank, Liberty Financial, NZCU, Prospa, Resimac, Select Home Loans, Southern Cross Partners Finance, Sovereign Home Loans, SBS Bank, TSB, and Westpac.

On settlement of a loan, we usually receive commission from the applicable product provider. The commission is generally of an upfront nature, but may also include a renewal or trail commission. We also receive a fixed rate roll over fee from some product providers if we assist in refixing your loan.

This commission is used to remunerate the financial adviser that provides the advice, and to pay the expenses associated with running our business including any rent, staff costs and IT resources. From this commission we also pay NZ Financial Services Group Limited for services they provide to us in connection with our authorisation under their licence from the Financial Markets Authority.

We take steps to ensure that the receipt of commissions does not influence the advice we give to you and that our advisers prioritise your interests by recommending the best product for your purpose regardless of the type and amount of commission we or they may receive. We do this by:

  • Ensuring our advisers follow an advice process that ensures they understand your needs and goals
  • Ensuring our advisers receive regular training on how to manage conflicts of interest.
  • Providing you with a schedule showing commission amounts and types by product provider. This schedule is contained within each Financial Adviser’s personalised Disclosure Guide. A Financial Adviser will provide you with more information about commissions during the advice process.

Fees and Expenses
Generally, we don’t charge you any fees for the financial advice and transactional solutions that we provide to you. This is possible because, on settlement of a loan, we usually receive commission from the applicable product provider as described above. There are two exceptions to this general position which are explained below.

We may charge you a one-off fee in the following situations:

  1. Where we don’t receive commission from the lender:  If you request that we provide services in relation to a product or service and we do not receive a commission, we may charge you a one-off fee. Any such fee would be agreed and authorised by you in writing before we complete the services, and would be based on an estimate of the time spent providing the advice. This may arise in the rare event that you request that we provide Services in relation to either a product that is offered by a provider that we do not hold an accreditation with, or a product that is outside our usual arrangements with our product providers.
  2. Repayment of our commission to the lender: If a product or service provider requires that we repay commission within 28 months of settlement of your loan, we may charge you a one-off fee.  Any such fee would be no more than $2,500 (plus GST) and would be calculated based on a rate of $250 (plus GST if applicable) per hour of the financial adviser’s time spent providing services to you in connection with the applicable mortgage. The fee charged will not exceed the amount of commission we have to repay the lender.

Should we need to charge you a fee, you will be invoiced and will be given 30 days to make payment.

Conflicts of Interest
If there are any conflicts of interest apart from commission that could potentially influence the advice that we give, these will be shown in your Financial Adviser’s Disclosure Guide.

Privacy Policy & Security
We will collect personal information in accordance with our Privacy Policy. We regard confidentiality as of paramount importance.  We will not disclose any confidential information obtain from or about you to any other person, except in accordance with our Privacy Policy.

Complaints Process
If you have a complaint about any of our Financial Advisers on the financial advice or service they gave you, you need to tell us about it.  You can contact out internal complaints service by phoning 0800 WHENRY (0800 943679) or emailing us at info@www.waynehenry.co.nz using the heading “Complaint – [Your Name]”.

Please set out the nature of your complaint, and the resolution you are seeking. We will acknowledge receipt of this within 24 hours.  We will then record your complaint in our Complaints Register and we will work with you to resolve your complaint.  We may want to meet with you to better understand your issues.  We will then investigate your complaint and provide a response to you within 7 working days of receiving your complaint.  If we need more time to investigate your complaint, we’ll let you know.

If we cannot agree on a resolution you may refer your complaint to Financial Services Complaints Ltd (FSCL) – Financial Ombudsman Service. FSCL is our independent external ombudsman and dispute resolution service that has been approved by the Minister of Consumer Affairs under the Financial Service Providers (Registration and Dispute Resolution) Act 2008. FSCL’s service is free of charge to you.

Financial Services Complaints Limited

Email: complaints@fscl.org.nz
Phone: 0800 347 257

Our Duties

Anyone with out business giving advice is bound by and supports the duties set out in the Financial Markets Conduct Act 2013.  These duties are:

  • Meet the standards of competence, knowledge, and skill and the standards of ethical behaviour, conduct, and client care set out in the Code of Professional Conduct for Financial Advice Provider
  • Give priority to your interests
  • Exercise care, diligence and skill

Any Questions?
Please don’t hesitate to contact us if you have any questions regarding this Disclosure.