Our Disclosures
Important information about our business
Migrant Financial Services holds a Financial Advice Provider licence issued by the FMA to provide financial advice services. Migrant Financial Services Provider Number is FSP 1010317.
Our office contact details:
Address: 40 Rautara Street, Orakei, Auckland, 1071
Phone: 021 08252 035
Email: ivandee@migrantfinancialservices.com
Website: www.migrantfinancialservices.com
Nature and Scope of financial advice services
Our Fees
We do not expect to charge any one-off fees relating to any financial advice provided to our clients. However, we may charge a fee for the financial advice service provided, where the clients has cancelled or materially changed their insurance policy within the first 2 years of issue, or refinance / repay your mortgage within a 2 year.
If this happens, and you haven’t given MFS the opportunity to assist you with your insurance / mortgage revision, we may charge you a fee for our services, we will inform you of the exact amount if the situation arises. We do not aim to charge this fee unnecessarily. We have not charged either of these fees to date
Other Costs
Where other costs are incurred in the process of providing our advice and services to you, we will agree on all additional costs with you prior to incurring them; OR We don’t charge our clients fees, expenses or anything else directly for the financial advice we provide.
Commissions
For services in relation to insurance/KiwiSaver/ Home loan products, commissions may be paid by the product provider
These commissions do not affect the fees and premiums you pay. If you went directly to these providers, you would most likely pay the same amount.
Ongoing Commissions
A percentage of the value of your KiwiSaver balance, outstanding loan amount or premiums, usually calculated at the end of each month in which you hold the investment or loan, or on renewal of insurance products. This trail commission applies to certain Kiwisaver, insurance and mortgage providers
These commissions do not affect the fees and premiums you pay. If you went directly to these providers, you would most likely pay the same amount.
Conflicts of interest or other incentives
We are here for our clients and to advise you as best we can. Your interests are our priority although we do have business relationships with product providers also.
From time to time our product providers assist us with funding so we can bring our advisers together for conferences and professional development training
How we manage any conflicts of interest
To ensure our advisers prioritise our clients’ interests:
- We follow an advice process that ensures our recommendations are made appropriately, based on clients’ goals and circumstances.
- All our advisers undergo annual training about how to manage conflicts of interest.
- We maintain registers of conflicts of interest and the gifts and incentives we receive. These registers are monitored regularly, and additional training is provided as required.
- We undertake an annual independent Compliance Assurance Review.
Our duties and obligations to you
We are bound by the duties of the Financial Markets Conduct Act (431I, 431K, 431L and 431M) to:
- Meet the standards of competence, knowledge, and skill set out in the Code of Conduct
- Give priority to the clients’ interest, and
- Exercise care, diligence and skill, and
- Meet the standards of ethical behavior, conduct, and client care set out in the Code of Conduct.
Our Internal complaints process
If you have a problem, concern, or complaint about any part of our advice or service, please tell us so that we can try to fix the problem.
Our internal complaints manager is Ivandee Fitchet who can be reached via email at ivandee@migrantfinancialservices.com or 02108252035. Ivandee Fitchet will reply to you within 24 hours
Our internal complaints handling process is as follows:
- We will consider your complaint and may need to contact you for further information and let you know how we intend to resolve it
- If we cannot resolve your complaint, or you are unsatisfied with our resolution proposal, you can contact the Financial Services Complaints Limited
Our external complaints process
If we cannot agree on how to fix the issue, or if you decide not to use the internal complaints scheme, you can contact our external disputes resolution scheme: Financial Services Complaints Limited. This service will cost you nothing, and will help us resolve any complaints.
You can contact at: Financial Services Complaints Ltd
Address: Level 4, Sybase House, 101 Lambton Quay, Wellington, 6011
Phone number: 0800 347 257
Email address: complaints@fscl.org.nz