Commissions & Incentives

If you proceed with a product on the basis of financial advice received from a Financial Adviser, the Adviser Business or the Financial Adviser usually receives a commission or incentive payment from the applicable product provider. The types of payments that may be received from product providers are as follows:

• Upfront commission which is calculated as a percentage of the loan at drawdown (in the case of a loan).
• Fixed rate rollover fees (in the case of refixing a loan).
• Referral fees.
• Other incentives or rewards, for example gifts or tickets to events.
  
  

Further information about the commissions and incentives that are relevant to the advice you may receive, including the maximum percentages used to calculate the commissions, will be given to you by the Financial Adviser. The Adviser Business takes steps to ensure that the receipt of these types of
payments does not influence the financial advice given and that its Financial Advisers prioritise your interests by recommending the best product for your purpose regardless of the type and amount of payment that may be received. The Adviser Business does this by:

• Ensuring the Financial Advisers follow an advice process that ensures they understand your needs and goals and that their recommendations meet those needs and goals.
• Ensuring the Financial Advisers receive regular training on how to manage conflicts of interest.
• Providing you with a schedule showing maximum commission rates and types by product provider. This schedule is contained within each Financial Adviser’s personalised Disclosure Guide. A Financial Adviser will also provide you with more information about commissions during the advice process.

Personalised Mortgages Limited may also receive commission or incentive payments as follows:

• A commission payment from the applicable insurer if an insurance application is accepted.
• A referral payment from Tower Insurance if a client is referred for insurance needs.
• A referral payment from XE Money or Prospa NZ if a client is referred for other financial needs.

Terms of these payments are between Personalised Mortgages Limited and the applicable product provider. These payments do not influence the advice given to you as Personalised Mortgages Limited does not direct or influence Financial Advisers to recommend products from a particular insurer. Financial Advisers are required to recommend products by following the advice process described above.

Other Conflicts of Interest

The Financial Advisers engaged by the Adviser Business may attend, from time to time, events hosted by product providers or events hosted by NZ Financial Services Group, at which product providers discuss and provide information about their products. The Adviser Business manages the potential conflict of interest raised by attendance at these events by ensuring the Financial Advisers follow the advice process described above to ensure the Financial Adviser prioritises your interests by recommending the best product for your purpose regardless of the information received at events they’ve recently attended.

If there are any other conflicts of interest that could potentially influence the financial advice that you will receive, these will be shown in each Financial Adviser’s
Disclosure Guide.