Public Disclosure Statement
Our license to practice
Vive Financial Services Limited (FSP761391) trading as Vive Financial Advisers – holds a license issued by the Financial Markets Authority to provide financial advice.
Contact details
You can contact us at:
Vive Financial Advisers
14/1797 Great North Road, Avondale, Auckland 1026
info@vivenz.co.nz
+64 21 150 2327
Our nature and scope of financial advice
Vive Financial Advisers provides advice to our clients regarding:
Residential Property/ Home Loans:
First Home Buyer Lending
Refinancing
Property Investment Lending
Business/ Commercial Lending:
Property Development Finance
Commercial Loans
Business Loans
Personal Insurance:
Life Insurance
Medical Insurance also known as Health Insurance
Critical Illness/ Trauma Insurance
Income & Mortgage Protection
Total and Permanent Disablement Insurance
Kids Cover
Level Premiums
Business/ Self- Employment Insurance:
Business Income Protection
Key Person Insurance
Shareholder Protection
Debt Protection
Employer Group Schemes
ACC Cover Plus Extra
Our product providers
Advisers at Vive Financial Advisers provide Financial Advice about products from certain providers.
Residential and Commercial Lending
ANZ
ASAP finance
ASB
Avanti Finance
Basecorp
BNZ
Bluestone Mortgages
The Co-operative Bank
Cressida Capital
First Mortgage Trust
Liberty
Pepper Money
SBS Bank
RESIMAC
Unity
Westpac
Personal and Business Insurance
Accuro
AIA
Asteron Life
Chubb Life
Fidelity Life
Nib NZ
Partners Life
How we get paid - Part 1
Commission
Vive Financial Advisers will receive commissions from the providers whose products we give financial advice on (The Lenders and Insurers).
The amount of commission is based on:
Residential/ Commercial Lending
0.45% - 1.00% of the initial loan/ funding balance.
0.15% - 0.20% of the of the loan balance on each anniversary as renewal commission.
Personal & Business Insurance
80% and 250% of the first year's policy premiums for all personal & business insurance cover types except medical insurance;
25% and 140% of the first year’s policy premiums for medical insurance only;
I will also receive 3% to 30% of the policy premiums for each year the policy is in force known as renewal commission.
How we get paid – Part 2
Fees
Vive Financial Advisers will generally not charge you a fee if you decide to take a loan or insurance that pays Vive Financial Advisers commissions.
However, Vive Financial Advisers may charge a fee in the situations below:
Residential/ Commercial Lending
In the event the lender does not pay Vive Financial Advisers commission, Vive Financial Advisers may charge you a fee for the advice we provide, and this will be disclosed by Vive Financial Advisers to you prior to the fee being incurred by you.
If you decide to take up our advice and the lender agrees to pay us a commission, we will not charge a fee.
Consulting Fees: Vive Financial Advisers may charge a fee where we have provided Financial Advice/ Strategy that does not result in Vive Financial Advisers implementing the loan. This includes but not limited to- Mortgage structure advice, first home buyer roadmap, investment property roadmap.
Cancellation: If you cancel or refinance your mortgage within the first twenty-eight months after it settles, Vive Financial Advisers may charge you a fee for the financial advice we provided.
Loan Approval withdrawal: Vive Financial Advisers may charge a fee if you get a loan approval but does not act/ implement our advice – In this case, Vive Financial Advisers will charge you a fee for the services performed.
The amount payable for the above will be charged at $250 + GST per hour - based on the time spent developing and providing the financial advice, or we will charge you based on the costs that the lender charges us for cancelling or refinancing the mortgage.
Vive Financial Advisers will invoice this fee and it will be payable on the 20th of the month following the invoice. Details on how to make payment will be included on the invoice.
Vive Financial Advisers will communicate any fee’s payable before providing financial advice.
Personal and Business Insurance
In the event the Insurer does not pay Vive Financial Advisers commission, Vive Financial Advisers may charge you a fee for the advice we provide, and this will be disclosed by Vive Financial Advisers to you prior to the fee being incurred by you. If you decide to take up our advice and the Insurer agrees to pay us a commission, we will not charge a fee.
Policy cancellation: Vive Financial Advisers may charge you a fee for the financial advice provided if you cancel a Personal/ Business Insurance policy within two years of inception.
Application withdrawal: If you submit an insurance application and then withdraw the application I.e. you did not act/ implement our advice. In this case, Vive Financial Advisers will charge you a fee for the services performed.
Transfer Fee: Vive Financial Advisers may charge a one-off transfer fee you want to transfer your existing policy to Vive Financial Advisers to manage.
The amount payable for the above will be charged at $250 + GST per hour based on the time spent developing and providing the financial advice.
Vive Financial Advisers will invoice this fee and it will be payable on the 20th of the month following the invoice. Details on how to make payment will be included on the invoice.
Vive Financial Advisers will communicate any fee’s payable before providing financial advice.
Conflicts of interest
How we manage conflicts of interest and incentives:
To ensure that our financial advisers prioritise our clients’ interests above their own, we follow an advice process that ensures our recommendations are made on the basis of each client’s goals and circumstances.
All our financial advisers undergo annual training about how to manage conflicts of interest.
We undertake a compliance audit, and a review of our compliance programme is undertaken annually by a reputable compliance adviser.
Our duties and obligations to you
Vive Financial Advisers, 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
Our complaints handling and disputes resolution
If you are not satisfied with our financial advice service in any way, you can make a complaint by emailing complaints@vivenz.co.nz , or by calling us on 021 150 2327 . You can also write to us at 14/1797 Great North Road, Avondale, Auckland 1026:
When we receive a complaint, we will consider it following our internal complaints process:
We will consider your complaint and let you know how we intend to resolve it. We may need to contact you to get further information about your complaint.
We aim to resolve complaints within 10 working days of receiving them. If we can't we will contact you within that time to let you know we need more time to consider your complaint and will aim to provide you with a realistic timeframe.
We will contact you by phone or email to let you know whether we can resolve your complaint, and how we propose to do so.
If we can’t resolve your complaint, or you aren’t satisfied with the way we propose to do so, you can contact our external dispute resolutions scheme Financial Services Complaints Limited (FSCL).
FSCL provides a free, independent dispute resolutions service that may help investigate or resolve your complaint, if we haven’t been able to resolve your complaint to your satisfaction.
You can contact FSCL by emailing complaints@fscl.co.nz or by calling 0800 347 257. You can also write to them at PO Box 5967, Wellington 6145.
Website: www.fscl.org.nz
Our Reliability history
A reliability event is something that may materially influence your decision on seeking advice from Vive Financial Advisers or our advisers . Some examples of reliability events:
legal proceedings against Vive Financial Advisers or their adviser/s
If Vive Financial Advisers or their adviser/s have been bankrupt in the last four years.
Neither Vive Financial Advisers nor any of our advisers have been subject to a reliability event.
Find us at
14/1797 Great North Road,
Avondale, Auckland 1026.
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