Important Information:

Licensing Information

Goldsmith Mortgages Limited (FSP636749, trading as Goldsmith Mortgages) is a Financial Advice Provider (FAP) licensed and regulated by the Financial Markets Authority (FMA) to provide financial advice.

Nature and Scope of the Advice

Goldsmith Mortgages provides financial advice on residential lending products from a range of trusted lenders, including but not limited to:

ANZ, ASB, BNZ, Westpac, ASAP Finance, Avanti, Basecorp, Cooperative Bank, CMFL, Bank of China, Bluestone, China Construction Bank, Cressida Capital, DBR, First Mortgage Trust, Funding Partners, Heartland Bank, Liberty, Pepper Money, Plus Finance, Prospa, Resimac, SBS, TSB, AIA Go Home Loans, Pallas Capital and Southern Cross Partners. 

We do not provide financial advice services relating to : 

• Legal or estate planning (e.g. wills, trusts, contracts, etc.) 
• General Insurance advice 
• Personal Insurance advice 
• Investment products (e.g. shares, bonds, managed funds, KiwiSaver, etc.)

Fees and Expenses

In most cases, Goldsmith Mortgages does not charge clients fees for the financial advice provided. We receive commissions from the lender of choice as compensation. However, in situations where commission is not available, or in the case of specialized financial products such as:

• Bridging finance,
• Private development loans, or
• Lending below $100,000, a fee may be charged. All fees will be clearly disclosed prior to any commitment.

Additionally, some non-bank lenders may charge a brokerage fee, which will be paid to Goldsmith Mortgages on your behalf. The exact amount will be discussed in detail prior to financing application.

Commission Clawback

In the event of a commission clawback, Goldsmith Mortgages, reserve the right to on charge the commission. For example, on a loan amount of $500,000, a commission received by Goldsmith Mortgages could be $2,750 (0.55% upfront commission). If this is repaid within the clawback period, you will be subject to repay the full amount. Goldsmith will provide transparency from the lender on the exact clawback amount. 

We will invoice you for this fee and it will be payable on the 20th of the month following the cancellation of your policies. Details of how to make payment will be included on the invoice. 

If you decide not to act on my advice, then I will charge you an hourly fee of $325 for the services performed. This will be based on the time it has taken to prepare my advice.

Conflicts of Interest and Commissions

Goldsmith Mortgages is compensated through commissions paid by the lenders. Typically, we receive an initial commission between 0.55% and 0.85% of the loan amount, along with ongoing commissions of up to 0.20% of the remaining balance annually.

To ensure transparency and prioritize client interests:

• We follow a comprehensive, six-step advice process to ensure our recommendations align with your goals and circumstances.
• Our advisers undergo annual training on conflict management.
• Conflicts of interest are documented and monitored, and we conduct an independent compliance review annually.

Complaints Handling and Dispute Resolution

If you are not satisfied with my service you can make a complaint through the following methods:

• By logging into the Trail client portal and pressing on the “Make a Complaint” button on the bottom right of the page.
• By contacting me directly
• By sending an email to Johnny Ma on info@goldsmithmortgages.co.nz

Once we receive a complaint, we follow an internal procedure to ensure we address the issue. Our process will:

• Acknowledge your complaint within 2 working days 
• Inform you how we will address the complaint
• Gather any information that will help us resolve the complaint
• Aim to resolve the complaint within 40 working days. 
• If we cannot resolve the complaint within this timeframe, we will update you regarding the next steps.

If you are not satisfied with how we addressed or resolved your complaint, you can contact Financial Services Complaints Limited. They are an independent dispute resolution service that costs you nothing to use and will help us resolve any disagreements or finalise outstanding complaints. Their contact details are:

Financial Services Complaints Limited
    0800 347 257
    info@fscl.org.nz
    www.fscl.org.nz

Duties Information

We are bound by the duties of the Financial Markets Conduct Act to:

1. Meet the standards of competence, knowledge and skill set out in the Code of Conduct
2. Give priority to the clients’ interests and
3. To exercise care, diligence, and skill in regard to the advice we provide and
4. Meet the standards of ethical behaviors, conduct, and client care set out in the Code of Conduct

Agrees that his/her information is being made available to be reviewed by the FMA. 

Contact Details

Goldsmith Mortgages
Call: 09 555 1608
Email: admin@goldsmithmortgages.co.nz
Write to: Level 4, 135 Broadway, Newmarket, Auckland