Loan Market Group is a financial services group which operates under the ‘Loan Market’ and ‘Insurance Market’ brands.

Businesses who are members of Loan Market Group (Adviser Businesses) provide financial advice to their clients and trade under either the ‘Loan Market’ or ‘Insurance Market’ brands. They pay fees to Loan Market Group to be a member of the group and for the services they receive from Loan Market Group.

• Adviser Businesses are Financial Advice Providers under the Financial Markets Conduct Act 2013 and each Adviser Business is required to be registered on the Financial Service Providers Register (https://fsp-register.companiesoffice.govt.nz/) (FSPR).
• Adviser Businesses engage Financial Advisers to provide financial advice to clients. The FSPR shows the Financial Advisers which have been engaged by a particular Adviser Business.
• The Financial Advisers you can search for on the Loan Market website (https://www.loanmarket.co.nz/advisers) and the Insurance Market website (https://www.insurance-market.co.nz/advisers) are engaged by an Adviser Business. The name of the relevant Adviser Business is set out on their webpage.

The Adviser Businesses under Loan Market Group are authorized to provide financial advice under a license issued by the Financial Markets Authority in the name of NZ Financial Services Group Limited (FSP286965). NZ Financial Services Group Limited is the parent company of Loan Market Group in New Zealand.

As set out below, most Adviser Businesses are authorised under this licence and a small number of Adviser Businesses have their own license.
 

The conditions on our license authorise specific Adviser Businesses to provide financial advice under NZ Financial Services Group Limited licence from the FMA (in this Disclosure we refer to these businesses as “Authorised Bodies”). A full list of the Authorised Bodies is located on the FSPR (https://fsp-register.companiesoffice.govt.nz/) (search NZ Financial Services Group Limited’ and view the list of Authorised Bodies under the ‘Financial Services’ tab).
 

There are also a small number of Adviser Businesses who are authorised to provide financial advice under their own licence from the FMA.
 

This document sets out some information about Loan Market Group, Adviser Businesses and Financial Advisers engaged by those Adviser Businesses, as required by the Financial Markets Conduct Regulations 2013.

The Adviser Businesses, including the Authorised Bodies, have their own Publicly Available Information Disclosures which set out:

• Whether they are authorised under the NZ Financial Services Group licence or whether they hold their own licence from the FMA;
• The nature and scope of the financial advice service their Financial Advisers can offer;
• Other key information about fees, commissions and complaints.
  
  

You can locate their Publicly Available Information Disclosures on our website by searching for an Adviser here (https://www.loanmarket.co.nz/advisers) (for Loan Market) and here (https://www.insurance-market.co.nz/insurance-advisers) (for Insurance Market).

The Financial Advisers have their own Disclosure Guides. These are not available on our websites but are provided on request and otherwise are provided by the Financial Adviser when they are engaged to provide financial advice by a current or prospective client.

In this Disclosure Statement, we refer to an Adviser Business’s Publicly Available Information Disclosures and a Financial Adviser’s Disclosure Guide collectively as the “Adviser Disclosures”.
 

Loan Market Group does not provide financial advice directly to clients, however the Adviser Businesses and their Financial Advisers provide clients with financial advice about Life, Fire & General Insurance products and/or Lending products and/or KiwiSaver. They generally provide financial advice about products from certain product providers that are included in Loan Market Group’s approved panel of product providers.

The Adviser Disclosures:

• Set out the specific products that they can provide financial advice on.
• Set out the relevant product providers.

Because Loan Market Group does not provide financial advice directly to clients, it does not charge fees and expenses to clients.

Information about fees and expenses that might be payable by a client to an Adviser Business and/or a Financial Adviser in connection with receiving financial advice is set out in the Adviser Disclosures.
 

Loan Market Group is required to disclose any interests of Loan Market Group, of its Adviser Businesses or of its Financial Advisers which a client may expect to materially influence the financial advice a client may receive from a Financial Adviser.
 

If a client receives advice from a Financial Adviser in relation to an insurance product and the insurance application is accepted, Loan Market Group may receive a commission payment from the applicable insurer.

Additionally, where a Financial Adviser refers a client to Tower Insurance for their insurance needs, or refers a client to XE Money or Prospa NZ for their other financial needs, Loan Market Group may receive a referral payment. Loan Market Group manages the potential conflicts of interest arising as a result of these payments by ensuring:

• Terms of the payments are between Loan Market Group and the applicable product provider.
• Loan Market Group does not direct or influence Adviser Businesses or Financial Advisers to recommend products from, or refer clients to, a particular insurer or product provider.
• Loan Market Group requires Financial Advisers to recommend products by following an advice process that ensures the Financial Adviser understands the needs and goals of their clients and that their recommendations meet those needs and goals.
  
  

In relation to lending products and KiwiSaver, Loan Market Group does not receive commission payments from product providers (however see below under ‘Other interests’ for shareholder dividends that Loan Market Group’s parent company may receive in relation to one KiwiSaver scheme).

An Adviser Business and/or a Financial Adviser usually receive commission payments in connection with financial advice that they provide if a product is acquired following that financial advice. That commission payment may include an upfront payment, together with an ongoing renewal or trail payment. More information about those commissions, and any other incentives they may receive, is set out in the Adviser Disclosures.

To ensure that the Adviser Businesses and Financial Advisers manage the potential conflict of interest raised by the commission payments, Loan Market Group:

• Provides guidance and training on conflicts of interest.
• Requires Financial Advisers to recommend products by following an advice process that ensures the Financial Adviser understands the needs and goals of their clients and that their recommendations meet those needs and goals.
• Requires Financial Advisers to provide, in their Disclosure Guide, a schedule showing commission rates and types by product provider.
• Carries out regular assurance in relation to the advice provided by a Financial Adviser which assesses, amongst other matters, how conflicts of interest have been managed.
• NZ Financial Services Group (NZFSG), which is Loan Market Group’s parent company, has an indirect shareholding in Koura Wealth Holdings Limited (Koura Holdings), which is the sole shareholder of Koura Wealth Limited (Koura Wealth), and an NZFSG employee is a director of Koura Holdings. Koura Wealth is the manager of the Koura KiwiSaver Scheme (Scheme) and receives an investment management fee which is based on the Scheme’s total funds under management. NZFSG may receive shareholder dividend payments based on the performance of Koura Holdings. NZFSG and Loan Market Group may manage this potential conflict of interest by ensuring they do not direct or influence Financial Advisers to recommend the Scheme over other KiwiSaver schemes and by requiring Financial Advisers to recommend products by following an advice process that ensures the Financial Adviser understands the needs and goals of their clients and that their recommendations meet those needs and goals.
• Some of the directors of Loan Market Group:
  • Have shareholding interests in parent companies of Loan Market Group and therefore may receive shareholder dividend payments based on the performance of Loan Market Group.
  • Receive a salary from NZFSG which includes a variable component based on the performance of NZFSG and Loan Market Group. Loan Market Group manages the potential conflicts of interest arising by these payments by ensuring that all interests are disclosed in a conflicts of interests register and that decisions made are in the best interests of clients.
  • One of the directors of Loan Market Group is also a director, shareholder and Financial Adviser of an Adviser Business. Loan Market Group manages this potential conflict of interest by ensuring that all interests are disclosed in a conflicts of interest register and that the director does not participate in, or vote on, decisions in relation to which the director has a conflicted interest.
  • In relation to Adviser Businesses and Financial Advisers, Loan Market Group holds regular events for its Adviser Businesses and Financial Advisers that encourage learning and development. Some Product Providers contribute financially to these events and those Product Providers have opportunities at the event to highlight their product and in some cases provide attendees with information about their products. Additionally, Financial Advisers may be invited directly to events hosted by Product Providers.

Loan Market Group manages this potential conflict of interest by:

• Not directing or influencing Adviser Businesses or Financial Advisers to recommend products from particular Product Providers.
• Requiring Financial Advisers to recommend products by following an advice process that ensures the Financial Adviser understands the needs and goals of their clients and that their recommendations meet those needs and goals.
• Carrying out regular assurance in relation to the advice provided by a Financial Adviser which assesses, amongst other matters, how conflicts of interest have been managed.
  
  

An Adviser Business and/or Financial Adviser will disclose to a client in the Adviser Disclosures any other material interests they have.
 

If you have a complaint about the financial advice or the service you’ve received from an Adviser Business and/or a Financial Adviser please lodge a complaint with them. Information about an Adviser Business’s internal complaints service and their dispute resolution scheme can be found in the Adviser Disclosures.

If you have a complaint that relates to Loan Market Group, or if you are unhappy with how a complaint against your Adviser Business and/or your Financial Adviser has been dealt with, you can contact Loan Market Group’s internal complaints service by emailing us at [email protected] with the heading “Complaint – (Your Name)”.

Please set out the nature of your complaint, and the resolution you are seeking. We aim to acknowledge receipt of this within 24 hours. We will then record your complaint in our Complaints Register and investigate your complaint. We may want to meet with you to better understand your issues.

We will then investigate your complaint and aim to provide a response to you 7 working days of receiving your complaint. If we need more time to investigate your complaint, we’ll let you know.

If we cannot agree on a resolution you can refer your complaint to our external dispute resolution service. This service is independent and will cost you nothing and will assist us to resolve things with you.

Details of this service are:

Financial Services Complaints Limited – (FSCL) – A Financial Ombudsman Service. 

• Phone: 0800 347 257
• Email: [email protected]

Our Duties