EIGHTFOLD PUBLIC DISCLOSURE

Public Disclosure Statement by Eightfold Financial Services Group Limited as required by The Financial Markets Conduct (Regulated Financial Advice Disclosure) Amendments Regulation 2020.

Financial Advice Provider: Eightfold Financial Services Group Limited
FSPR Number: FSP 461646
Physical address: L3/100 Mayoral Drive, Auckland 1010, New Zealand
Telephone number: 0800 881 886
Email address: info@eightfold.co.nz

This disclosure statement was prepared on 1st March 2021.

IT IS IMPORTANT THAT YOU READ THIS DOCUMENT

This information will help you to choose a Financial Advice Provider that best suits your needs. It will also provide some useful information about the Financial Advice Provider that you choose.

Eightfold Financial Services Group Limited hold a Financial Advice Providers license issued by the Financial Markets Authority.

There are no special conditions that apply to this license.

NATURE AND SCOPE OF SERVICE

We give regulated advice in respect of:

Loan Arrangement

  • Residential Lending
  • Property Investment and Development Lending
  • Business Lending

Insurance Arrangement

  • Life Insurance
  • Health Insurance
  • Income Protection Insurance
  • Trauma Insurance
  • Total Permanent Disablement Insurance
  • House, Car and Contents Insurance

When giving advice there are no material limitations or restrictions on the nature and scope of the advice that a client will be given.

We only provide recommendations on products from the lenders and insurers listed in our providers guide (click below links for full list of lenders and insurers and detail as to how they remunerate):

HOW DO WE GET PAID FOR THE SERVICES THAT WE PROVIDE TO YOU?

We are required to tell you the specific fees, commissions, extra payments, and other benefits that we have received or will, or may, receive in relation to the services that we provide to you. We must tell you these things before we give you advice or, if that is not practicable, as soon as practicable after we give you that advice. These fee and commissions range depending on the supplier. Ranges represented as a percentage are as follows:

Mortgages and lending Upfront and trail 0.10% to 2.00% of loan amount
Rate Refix $0 to $150.00
InsuranceUpfront0% to 230% of premium amount
Renewals3% to 35% of premium amount

       

CONFLICTS OF INTEREST AND COMMISSIONS OR OTHER INCENTIVES

At the time of preparing this disclosure document we do not have any Conflicts of Interest that would influence the advice we provide. If any conflict occurs in the future, we will advise you and inform you how we would manage that conflict to not influence the advice we provide.  

We receive commission from lenders when Loans (Mortgages) are drawn down and may in some instances receive ongoing commissions. Commissions are usually a % of the mortgage amount.

We receive commissions from insurance providers. Commissions for Insurances vary from provider to provider. They are based on a % of the annual premium you pay to the Insurance Provider. 

We manage this potential conflict by using independent research to select the best solution for your circumstances.

WHAT ARE OUR OBLIGATIONS?

As a Licensed Financial Advice Provider, we must comply with the Code of Professional Conduct for Licensed Financial Advice Providers. We also have other obligations under the Financial Services Legislation Amendment Act 2020 (including regulations made under that Act), the Financial Markets Conduct Act.

COMPLAINTS PROCESS

Our aim is to provide the best service we can to our clients so if you have any concerns then we have a complaints process.

If you are not satisfied with our service, please tell us as soon as possible so that we can do what is needed to try and resolve this for you to the best of our ability. It is our intention to provide the best possible service we can for our clients and will do our best to try and resolve any complaint received as quickly and effectively as possible. You can make a complaint by calling 0800 881 886. Our internal disputes service will reply to you within 24 hours.

If we cannot agree on how to resolve the issue, you can contact Insurance & Financial Services Ombudsman Scheme. This service will cost you nothing and will help us resolve any disagreements. You can contact Insurance and Savings Ombudsman by emailing info@iombudsman.org.nz ,calling 0800 888 202 or in writing to Insurance and Savings Ombudsman Scheme, PO Box 10-845 Wellington 6143, New Zealand.

DUTIES INFORMATION

Eightfold Financial Services Group Limited and any person giving advice on Eightfold Financial Services Group Limited’s behalf is bound by the following duties in the Act. That we and our advisers:

  • Meet the standards of competence, knowledge, and skills set out in the code of conduct
  • Give priority to your interests
  • Exercise care, diligence, and skill
  • Meet the standards of ethical behavior, conduct, and client care set out in the code of conduct

IF YOU NEED TO KNOW MORE, WHERE CAN YOU GET MORE INFORMATION?

If you have a question about anything in this disclosure statement or you would like to know anything more, please ask us. If you have a question about Financial Advice Providers generally, you can contact the Financial Markets Authority.

HOW ARE WE REGULATED BY THE GOVERNMENT?

You can check that we are a registered financial services provider and a Licensed Financial Advice Provider at www.fspr.govt.nz.

The Financial Markets Authority authorises and regulates Financial Advice Providers and Financial Advisers. Contact the Financial Markets Authority for more information, including financial tips and warnings. You can report information or complain about Our conduct to the Financial Markets Authority, but in the event of a disagreement, you may choose to first use the dispute resolution procedures described above (under Complaints Process).

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