Mortgage Mantra Limited (FSP748711) is the Financial Advice Provider.
Satish Kamath is the Financial Adviser (FSP73341).
You can contact us at 09-6386584 / 09-6306584 or 027 4581754.
Physical Address: Mortgage Mantra Limited
Level 1, Suite 4,666 Dominion Road, Mt Eden, Auckland 1026
Mortgage Mantra Limited (FSP748711) holds a licence issued by the Financial Markets Authority to provide financial advice.
NATURE AND SCOPE OF FINANCIAL ADVICE SERVICES
Mortgage Mantra Limited provides advice to our clients about their mortgages, Kiwisaver and personal risk insurance. Satish Kamath provides financial advice in relation to KiwiSaver, residential and commercial mortgages, business banking lending, personal loans, life insurance, trauma, income protection and mortgage repayment insurance, redundancy insurance, total and permanent disability insurance and health insurance.
We only provide financial advice about products from certain providers:
- For mortgages, we work with ANZ, BNZ, The Co-Operative Bank, SBS Bank, TSB, Bank of China, China Construction Bank, Liberty Finance, Bluestone, Resimac , Pepper Money ,Avanti Finance, DBR, First Mortgage Trust, Cressida Capital, SCFL, Core Finance, Vincent Capital ,NZMS ,General Finance, Basecorp Finance ,Spotcap, NZCU Baywide , ASAP Finance ,Gold Band Finance ,Prospa.
In providing you with financial advice, we will only consider existing term life, trauma, income protection and mortgage repayment insurance, redundancy insurance, total and permanent disability insurance and health insurance.
We will not provide advice on existing whole of life or endowment products, so you will need to consult a specialist if you would like advice on those products.
- For life insurance, trauma, income protection and mortgage repayment insurance, redundancy insurance, total and permanent disability insurance we work with AMP, Fidelity Life & Partners Life.
- For health insurance, we work with NIB & Partners Life.
CONFLICTS OF INTEREST AND INCENTIVES
For life insurance and health insurance, Mortgage Mantra Limited and the financial adviser receive commissions from the insurance companies on whose policies we give advice. If you decide to take out insurance, the insurer will pay a commission to Mortgage Mantra Limited and your financial adviser. The amount of the commission is based on the amount of the premium.
For mortgages, Mortgage Mantra Limited and the financial adviser receive commissions from the banks /lenders with whom we arrange mortgages. If you decide to take out the mortgage, the bank will pay a commission to your financial adviser. The amount of the commission is based on the amount of the mortgage. To ensure that our financial advisers prioritise our clients’ interests above their own, we follow an advice process that ensures our recommendations are made on the basis of each client’s goals and circumstances. All our financial advisers undergo annual training about how to manage conflicts of interest. We undertake a compliance audit, and a review of our compliance programme is undertaken annually by a reputable compliance adviser.
FEES OR EXPENSES
Mortgage Mantra Limited will charge a fee for the financial advice provided to a client where a client cancels a life or health insurance policy within two years of inception OR repays a loan within 28 months of settlement OR where the lender does not pay a commission when we arrange a loan with them. The fee that will be charged and the manner in which it will be charged will be advised when the advice is provided to the client. This fee will be payable by the client by the 5th of the month after the policy is cancelled OR the loan repaid.
COMPLAINTS HANDLING AND DISPUTE RESOLUTION
If you are not satisfied with our financial advice service you can make a complaint by emailing email@example.com, or by calling: 027 458 1754.
You can also write to us at: Level 1, Suite 4, 666 Dominion Road, Mt Eden, Auckland 1026.
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 Dispute Resolution Service (FDRS)
Level 4, 142 Lambton Quay, Wellington 6011, New Zealand
www.fdrs.org.nz | 0508 337 337 | firstname.lastname@example.org.
Financial Dispute Resolution Service provides a free, independent dispute resolution service that may help investigate or resolve your complaint, if we haven’t been able to resolve your complaint to your satisfaction.
Mortgage Mantra Limited, 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