Important information about our business:

This disclosure statement is provided by VESTA NZ Limited to help you understand who we are, how we work, and what you can expect when we provide mortgage and lending advice.

VESTA NZ Limited trading as Vesta Finance & Advisory holds a Financial Advice Provider Licence issued by the FMA to provide financial advice services. Vesta Finance & Advisory Financial Services Provider Number is 1009102.

About Us:

VESTA NZ Limited
FSP Number: 1009102
Address: 1 Wright Street, Ahuriri, Napier
Postal Address: 1 Wright Street, Ahuriri, Napier
Email: hello@vestafinance.co.nz
Website: vestafinance.co.nz

Our Advisors:
Jessie Parker FSP1005394 - contact 022 696 5116 jessie.parker@vestafinance.co.nz
Jess Shaw FSP1009116 - contact 021 90 69 80 jess.shaw@vestafinance.co.nz

 Providers & Advice Type:

Nature & Scope of Advice

We provide financial advice relating to debt management, including borrowing for:

• Personal purposes

• Business and commercial purposes

• Property investment

Products we can provide financial advice about:

• Residential lending including new purchase, refinance, top-ups, construction, refix, restructure, bridging finance and debt consolidation

• Personal lending including car loans, asset finance and debt consolidation

• Business and commercial lending including working capital, business purchase, share purchase, commercial property lending, asset finance and development loans

Providers we work with:

ANZ, ASB, BNZ, Co-operative Bank, Kiwibank, SBS Bank, Westpac, AIA – Go Home Loans, ASAP Finance, Avanti, Bank of China, Basecorp, Bizcap, Bluestone, CFML, CFI Finance, China Construction Bank, Cressida Capital, DBR, Finbase, Fifo Capital, First Mortgage Trust, Funding Partners, Go Lend, Heartland Bank, ICBC, Killarney, Lending People, Lendr, Liberty, Line Capital, Midlands, MTF, Pallas Capital, Pepper Money, Plus Finance, Prospa, Resimac, ScotPac Business Finance, Southern Cross Partners, Unity, Vincent Capital, Welcome Bank, Xceda.

We do not provide financial advice services relating to:

• Legal or estate planning (e.g. wills, trusts, contracts, etc.)

• Tax or accounting advice

• General Insurance advice

• Personal Insurance advice

• Investment products (e.g. shares, bonds, managed funds etc.)

If you need advice in these areas, we recommend consulting an appropriate specialist. We can refer you to trusted professionals we have worked with previously if you wish.

We also have a number of relationships with Building Inspectors, Solicitors, Conveyancers, Accountants, Property Managers, Building Brokers, Building Companies, Buyers Agents, Financial Advisers, Insurance Advisers, Real Estate Agents and other property related services in which we recommend and share in our conversations, follow ups, communications and client guides.

Commissions and Other Incentives:

VESTA NZ Limited may receive commissions at settlement from the relevant lender if you choose to make changes to or take out a mortgage following our advice. The commissions are between 0.50% and 0.90% of the initial mortgage balance or amount funded. VESTA NZ Limited may/will also receive 0.15% to 0.20% of the mortgage balance in trail commission.

VESTA NZ Limited may also receive a fixed rate roll over fee from some product providers if we assist in refixing your loan.

Fees & Expenses:

Residential Lending:

Generally, VESTA NZ Limited will not charge you any fees for the financial advice we provide you. This is possible because, on settlement of a loan, we usually receive commission from the lender. This is particularly common for residential lending (home loans). Any exceptions to this general position are explained below.

Business & Commercial Lending:

Some of lenders in the business and commercial space do not pay commission to financial advisers. To provide our independent financial advice offering VESTA NZ Limited charges a fee service. This is scoped out with the client post inital meeting and agreed before progressing.

Where commission is paid by a lender, this will be fully disclosed and offset against the agreed fee, reducing the amount payable by you.

All clients with a business or commercial lending component will receive a Letter of Engagement and Scope of Service outlining any fees and costs before proceeding.

Situations where fees are applicable:

In certain situations, Vesta may have to charge you a service fee for services rendered, including where:

• An upfront commission is not offered by the Provider your loan will be sourced through; or

• The services we provide you are advisory in nature or involve a significant amount of work that will not result in a commissionable transaction; or

• The nature of work relating to the lending is particularly complex, or

• Your loan is expected to be repaid within a short timeframe and thus incur a full commission clawback. Lenders apply a remuneration clawback from the adviser when a loan is not retained for a minimum period generally within 27 months. The timeframe can vary, as it is lender specific, timeframes specific to your lender will be outlined prior to submitting an application to the chosen lender. Claw backs most often apply where the loan was disclosed by the client for long term residential or investment purposes but where the borrower chose to sell the property or refinance inside the first 27 months. Any proposed service fee will be discussed with you as soon as it becomes clear that it will be required and will only be charged following your formal acceptance of that fee, or

• The lending approval expires and you provide no indication that you want to proceed.

If a fee is charged we will agree to that fee in advance of the Statement of Advice and the specific fee will be outlined in the Statement of Advice.

Referral Arrangements:

Should we refer to an external provider for advice on services that are outside of scope of our advice, we may receive a referral fee or commission. This will be disclosed at the recommendation of the referral.

If we provide you a referral to one of the providers, we have a referral arrangement with and you decide to use their services, we will receive a referral fee from them, generally this is based on a % of the upfront commission. These details can be provided on request and will be provided in your personalise disclosure when applying for lending.

Conflicts of Interest:

VESTA NZ Limited and our financial advisers ensure that we prioritise your interests by following an advice process that considers your circumstances and goals. Our financial advisers research suitable products and providers to ensure the advice meets your needs.

Our financial advisers also undergo annual training on how to manage any conflicts of interest and record any conflicts in a register that we review and manage.

VESTA NZ Limited is subject to a yearly audit and compliance reviews to ensure we meet our obligations while doing right by our clients.

Reliability History:

A reliability event is something that may materially influence your decision on seeking advice from VESTA NZ Limited or from our financial advisers. Some examples of reliability events are legal proceedings against one of our financial advisers or if we have been bankrupt in the last four years.

Neither VESTA NZ Limited nor our financial advisers have been subject to a reliability event.

Duties Information:

Vesta Finance & Advisory, 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.

Complaint Processes & Disclosure:

Our Internal Complaints Process

Our internal complaints manager is Karla Parker who can be reached via email at hello@vestafinance.co.nz. She will reply to you within 3 working days.

Our internal complaints handling process

• To lodge a complaint, please email your complaint to our internal complaints’ manager: hello@vestafinance.co.nz

• We will reply to you within 3 business days.

• We will aim to resolve your complaint within 10 working days.

Lodge a Complaint Here

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 (FSCL). This service will cost you nothing, and will help us resolve any complaints.

You can contact Financial Services Complaints Limited (FSCL)

Address
PO Box 5967, Wellington 6140

Phone
0800 347 257

Email
complaints@fscl.org.nz