Disclosure Guide
Below are essential details to help you understand the type of advice I can provide, enabling you to make an informed decision when engaging my services.
I am a Financial Adviser acting on behalf of a Financial Advice Provider.
My details are set out below
Full Name: Roneil Chandra
Address: 4 Olga Road, Flatbush, Auckland 2016
Phone: +64 212603982
Email: ron@falconmortgages.co.nz
FSPR Number: 1006681
Name of Financial Advice Provider
Falcon Financial Services Limited T/A Falcon Mortgages
FSP #: 1006699
Email: info@falconmortgages.co.nz
Website: www.falconmortgages.co.nz
Licensing Information
Falcon Financial Services Ltd 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 FSP1006699. You can find us on the Financial Services Register here.
Nature and scope of advice
The following information outlines the type of advice I offer. My services include assisting you in selecting and applying for a loan tailored to your needs from a group of lenders listed below. Once we have identified a lender and loan terms that align with your requirements, I will support you in obtaining approval.
I obtain loans from a selection of banks and lenders
The current lenders i can use are:
| ANZ | ASB | BNZ | Westpac |
| Co-Op Bank | SBS Bank | ||
| Pepper Money | Prospa | ASAP Finance | Avanti |
| Basecorp | Cressida Capital | DBR | First Mortgage |
| Funding Partners | Heartland | Unity | Plus Finance |
| Southern Cross | |||
| Kiwibank |
What else I can offer
I can help you with other services through my referral partners set out below:
- Tower - Fire and General
- XE Money
- Prospa
- Simplify
- Partners Life
Fees and expenses
Typically, I do not charge any fees for the financial advice I offer. This is because I typically receive commission from the lender upon loan settlement, as detailed in the Commissions section of this Disclosure Guide. Any deviations from this standard practice are outlined below. If any exceptions pertain to your situation, I will inform you accordingly.
I may charge you a one-time fee if:
(a) I do not receive a commission from the lender: If you ask for financial advice and I am not compensated by the lender, I might apply a one-off fee. This fee will be agreed upon and confirmed in writing before I provide the services, and it will be based on an estimate of the time spent giving advice.
This situation may occur in the rare event that you ask me to provide services related to a product offered by a lender with whom I am not accredited, or a product outside of my usual arrangements with approved lenders. Additionally, it may arise if a processing/application fee is imposed.
(b) If I am required to repay commission to the lender: Within the 28-month period after your loan is
disbursed, if your loan is fully or partially repaid, or if the terms are significantly altered, and the
lender requests that I repay the commission received from them, I may apply a one-time fee. This
fee will not exceed $3,600 (plus GST, if applicable) and will be calculated at a rate of $300 (plus GST,
if applicable) for 12 hours of time spent providing financial advice to you across all interactions
related to the loan in question. The fee charged to you will not surpass the amount of commission I
am obligated to repay to the lender. You will receive an invoice for this fee, with payment
instructions included.
Other fees/terms:
Client not proceeding fee: If you choose not to follow my advice, I will charge an hourly fee of $300 (plus GST, if applicable) for the services rendered. This fee will be based on the total time spent across all interactions to prepare my advice. The maximum charge for this service is $3,600 (plus GST, if applicable), calculated at 12 hours multiplied by $300 (plus GST, if applicable) per hour. You will receive an invoice for this fee, with payment instructions included. Disengagement: By accepting this agreement, you agree to disengage from any other advisers and/or direct dealings with banks/lenders.
Commission & Incentives
Upon loan settlement, I typically receive commission from the lender, calculated as a percentage of the loan amount at drawdown. This commission structure may include both upfront and ongoing trail commissions. Additionally, if I assist in refinancing your loan, there is potential to receive a fixed-rate roll-over fee from the lender. This information is also available upon request at no cost. Any variations or additional commission payments specific to your loan application will be disclosed during the advice process. Moreover, I may receive referral fees or commissions from our referral partners, with full details provided before proceeding. Occasionally, lenders may offer incentives such as gifts or event tickets, which I may accept from time to time.
Conflicts of Interest
I manage conflicts of interest arising from commission payments through the following measures: Employing an advice process that ensures thorough understanding of your needs and goals, enabling me to recommend the most appropriate product regardless of commission considerations. Verifying that the loan amount aligns with your identified requirements. Providing you with a transparent table detailing commission rates and types offered by each lender. Participating in regular training sessions to enhance proficiency in conflict management techniques.
Privacy Policy & Security
I collect personal information about you in line with my Privacy Policy, prioritizing client confidentiality. Confidential information obtained from or about you will not be disclosed to any other person, except as outlined in the Privacy Policy. Your personal information is stored securely on an electronic platform managed by Microsoft and via our Aggregator KAN (Kiwi Advisor Network).
Our Internal Complaints Process:
If you have any concerns regarding my financial advice or the service provided, please inform us promptly.
Our Internal Complaints Manager, Ron Chandra, can be contacted via email at complaints@falconmortgages.co.nz or by phone at 021 2603982. You can expect a response within 2-3 working days.
The process for handling internal complaints is outlined as follows:
To lodge a complaint, please email our Internal Complaints Manager, Ron Chandra, at complaints@falconmortgages.co.nz
We commit to responding to your complaint within 2-3 working days.
We endeavour to resolve all complaints within 15 working days from the date of receipt.
Our External Complaints Process:
If we are unable to reach an agreement on resolving the issue, or if you opt not to utilize our internal complaints procedure, you have the option to contact our external disputes resolution scheme – FSCL. This service is free of charge and aims to assist in resolving any complaints.
You can reach Financial Services Complaints Limited (FSCL) at:
Phone: 0800 347 257 or 04 472 3725
Address: Financial Services Complaints Limited
PO Box 5967 Wellington 6140
My Responsibilities:
I adhere to and uphold the duties outlined in the Financial Markets Conduct Act 2013. These duties entail:
1. Adhering to the standards of competence, knowledge, and skill delineated in the Code of Professional Conduct for Financial Advice Services (Code).
2. Prioritizing my client’s interests and exercising care, diligence, and skill in all interactions.
3. Abiding by the standards of ethical behaviour, conduct, and client care specified in the Code.
For further details, feel free to contact us directly or visit the Financial Markets Authority website at www.fma.govt.nz.