Financial Advice Provider Disclosure Statement

VC Finance Limited Licence status and conditions

VC Finance Limited is a Licensed Financial Advice Provider, issued by the FMA to provide financial advice services. Financial Services Provider Number is: FSP1002547 (Class 2).

Financial Advisers: Deepak Sharma (FSP1002826)

NZBN: 9429050039432

Please follow this link to search the FSP register: https://fsp-register.companiesoffice.govt.nz/

Our contact details are:

Address: 51 Bellbird Street, Papakura, Auckland, New Zealand 2110
Telephone: +64 09-610-5810
Email: admin@vcfinance.co.nz

We provide financial advice on Mortgage Products and Consumer Credit Contracts. We encourage you to read the important information given below. It may help you decide whether your financial needs may be met by engaging with us.

Nature and scope of financial advice service

We provide financial advice on the Residential loan products. We provide financial advice service about loan products only from the following providers (also known as lenders):

ASB Bank, ANZ Bank, BNZ Bank, Westpac Bank, Kiwibank, Sovereign, Avanti Finance, ASAP Finance, Bank of China, Basecorp Finance, Bluestone Mortgages, DBR, First Mortgage Trust, General Finance, Industrial and NZ Credit Union Baywide, Cressida Capital, Funding Partners, Heartland Bank, Liberty Finance, Lock Finance, Plus Finance, Prospa, Resimac, SBS Bank, Southern Cross Partners, Zip Finance, Pepper Money, and Simplify.

We do not provide advice in respect of the following products:

• Investment products (e.g., shares, bonds, managed funds, etc.) and KiwiSaver products; and
• Estate planning (such as Wills, Enduring Powers of Attorney, and trusts of any description); and
• General Insurance products; and
• Personal Risk Insurance products, these enquiries are referred to a suitably qualified third party.

You will need to consult appropriate specialists if you would like advice on any of above mentioned four products.

Fees, expenses, or other amounts payable

With most transactions there is no cost to you, the client, because VC Finance Ltd will receive commission/fee with one of these modes:

• Commission: Some banks/lenders pay Upfront range from 0.55% TO 0.88% depend on the bank.
• Service fee: Some banks/lenders pay from 0.15% to 0.25% per annum until the loan paid in full.
• Referral fee: Anywhere from 5% to 30% from net commission.

There are, however, a minority of the product providers that may charge a brokerage fee to you, the client, and may pass some or all this fee to VC Finance Ltd. Our financial advisers may also negotiate and charge you, the client, for a nominal fee for our services depending on the circumstances. Any fee required to be paid will also be disclosed to you in the Statement of Advice and Final Disclosure provided to you by our financial advisers.

Conflicts of interest and commissions or other incentives

VC Finance will receive commission from the lenders who provide residential loan products. If you decide to take out a residential loan, then the lender will pay commission based on the amount of loan settled with that lender or lenders. Our advisers get remunerated by taking drawings from the company. From time to time, various product providers (described previously) may also reward us for the overall business provided to them. They may give tickets to sports events, hampers, or other incentives. To ensure that our financial advisers priorities the client’s interests above their own, we follow an advice process that ensures our recommendations are made based on the client’s personal goals and circumstances. All our financial advisers undergo annual professional development refresher training about how to manage conflicts of interest. We maintain registers of conflicts of interests, and the gifts and incentives received.

Our Duties and Obligations to you

VC Finance Ltd and its advisers have duties under the Financial Markets Conduct Act to:

• Meet the standards of competence, knowledge, and skill set out in the Code of Professional Conduct for Financial Advice Services (Code), which is available on the Financial Markets Authority’s website (fma.govt.nz).
• Give priority to the clients’ interest.
• Exercise care, diligence, and skill.
• Meet the standards of ethical behaviour, conduct, and client care set out in the Code of Conduct

Internal complaints process

If you have a problem, concern, or complaint about any part of our advice or service, you can reach us via clicking here, email: admin@vcfinance.co.nz or call: +64 09-610-5810. We will reply to you within 5 working days. We will review the complaint and discuss with you how we can resolve this. We aim to resolve our complaints in a timely manner and will indicate to you the time this compliant for take to resolve. We will communicate with you in the method you prefer – phone, email or written. If we cannot resolve this complaint in a manner which is acceptable then you can contact our free independent dispute resolution service.

External complaints process

If we cannot agree on how to fix the issue, or if you decide not to use the internal complaints scheme, you can contact our external disputes resolution scheme – Financial Services Complaints Limited. This service will cost you nothing and will help us resolve any disagreements. You must bring your complaint to FSCL within 3 months of receiving our decision letter. If you do not raise the complaint with FSCL within this time frame, FSCL will not be able to investigate your complaint.

Membership Number – 8846

You can contact FSCL:
In writing – PO Box 5967, Wellington 6145
By email – complaints @fscl.org.nz
By telephone – 0800 347 257

You also have the right to address your complaint to the Financial Markets Authority (FMA). Details of the FMA complaints process are available on the FMA website.

Financial Markets Authority (FMA)
Website: https://www.fma.govt.nz
Address: Level 2, 1 Grey Street, PO Box 1179, Wellington 6140
Phone: 04 472 9830