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Financial Advice Provider
Disclosure Statement

 

LICENSING INFORMATION
Sebom Finance Limited holds a licence issued by the Financial Markets Authority (FMA) to provide financial advice services in New Zealand.
 
Our Financial Service Provider (FSP) number is FSP1010433. You can check our licence status and registration details at the Financial Service Providers Register: https://fsp-register.companiesoffice.govt.nz/
 
NATURE AND SCOPE OF FINANCIAL ADVICE
Services we provide
We provide financial advice in two main areas:
1.  Lending (Mortgages)

  • Home loans, including first home, owner-occupied and investment properties

  • Commercial and Business loans

  • Construction loans

  • Top-up loans

  • Debt consolidation

  • Refinancing

  • Loan restructuring and Refixing

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2.  Personal Risk Insurance

  • Life insurance

  • Critical illness and trauma cover

  • Total and permanent disability (TPD) cover

  • Income protection

  • Mortgage repayment cover

  • Medical and health insurance

 
Products we can advise on
We work with a panel of reputable banks and non-bank lenders –

ANZ, ASB, BNZ, Westpac, Kiwibank, 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, ASB Go Home Loans, Pallas Capital and Southern Cross Partners.
 
For insurance, we recommend policies from leading insurers –

AIA, Chubb Life, Fidelity Life, Partners Life, NIB, Cigna, and Southern Cross Healthcare (to be updated).

 

These lists of providers may change from time to time.


We will only recommend a product after assessing your goals and circumstances, and we will explain why it is suitable for you.
We also provide ongoing support to keep your loans and insurance fit for purpose, including refixing and reviewing cover as your circumstances change.
 
What we don’t do
We do not provide advice on investment products (such as shares, managed funds, KiwiSaver), legal, tax, and accounting matters. Our focus is on mortgages and personal insurance so that we can maintain high levels of expertise in these areas.
 
FEES, EXPENSES, OR OTHER AMOUNTS PAYABLE
No upfront fees in most cases
In most cases, you will not be charged a fee for the financial advice and implementation services we provide. This is because, if you proceed with a mortgage or insurance product based on our advice, we usually receive a commission from the lender or insurer, which covers the cost of our service.
 
Exceptions to our general fee policy
1.  No commission earned
If, after we have provided our services, you decide not to proceed with a loan or start an insurance policy, we will not receive a commission from the lender or insurer. In that situation, the cost of the time, expertise, and care we have already provided to you is not compensated.
 
We may therefore a time-based service fee of $250 per hour + GST, capped at:

  • $2,500 + GST for residential home loans / personal risk insurance

  • $5,000 + GST for business or commercial loans and complex transactions (or another cap agreed in writing before work starts)

 
This may apply when an approval is obtained but no loan or insurance is taken, and the approval is not transferred to another property or insurance product. If you later proceed with the loan or insurance through us within 12 months of the approval expiry and a commission is paid to us, we will refund in full any service fee you have paid.
 
If you require advice or assistance with a product that does not pay a commission (for example, a loan from a lender or an insurance policy from a provider with whom we have no commission arrangement), we will agree a fee in advance based on the estimated time involved, with your consent before any cost is incurred.
  
2.  Early repayment, refinance, or policy changes
If your loan is repaid or refinanced, or your insurance is cancelled or materially reduced within the provider’s review period, we may charge a deferred service fee for the original advice and administration work we have completed.
 
The fee will be the lesser of:

  • The applicable time-based service fee outlined above, or

  • A reduction in remuneration from the lender or insurer

 
Provider review periods vary. For mortgages, they are often up to 36 months from drawdown; for personal risk insurance, they are commonly up to 24 months from the policy start date.
 
3.  Invoicing
Our invoices are payable within 14 days of the invoice date. If payment is not received by the due date, we may charge reasonable recovery costs, including legal and collection expenses.
 
COMMISSIONS, CONFLICTS OF INTEREST, AND OTHER INCENTIVES
Commissions we receive
1.  Lending (Mortgages)
Upfront commission from the lender at settlement (typically 0.50%–1.00% of the initial loan amount) and, in some cases, ongoing commission (0.15%–0.20% of the outstanding balance each year). Some lenders may instead pay a flat refix fee (e.g. $150) when we assist with a rate refix.
 
2.  Personal risk insurance
Upfront commission from the insurer (typically 130%–250% of the first year’s premium) and ongoing commission (10%–25% of the premium) for each year the policy remains active.
 
We will disclose the exact amounts and how they apply to you when we provide advice.
 
How we manage any conflicts of interest
Your interests are our priority. We manage potential conflicts of interest by:

  1. Structured advice process – Recommendations are based on your needs and goals, not on the commission payable.

  2. Range of providers – We have access to a broad range of lenders and insurers and are not required to meet sales quotas.

  3. Training and oversight – Our advisers receive regular training on ethical conduct and conflict management, and we maintain a register of any gifts or incentives received.

  4. Transparency – We disclose all relevant commissions and incentives at the time of giving advice.

 
Other incentives
From time to time, product providers may contribute to adviser conferences, training, or professional development. These are not linked to specific client business and are recorded for transparency.
 
OUR DUTIES AND OBLIGATIONS TO YOU
We are bound by the duties set out in sections 431I, 431K, 431L, and 431M of the Financial Markets Conduct Act 2013. These duties require us to:

  1. Meet the standards of competence, knowledge, and skill in the Code of Professional Conduct for Financial Advice Services

  2. Give priority to your interests when providing financial advice

  3. Exercise care, diligence, and skill

  4. Meet the standards of ethical behaviour, conduct, and client care in the Code of Professional Conduct

 
These duties are designed to ensure you receive quality advice that puts your needs first.
 
COMPLAINTS HANDLING AND DISPUTE RESOLUTION 
Our commitment to you
We are committed to delivering excellent service. If something goes wrong, we want to resolve it quickly and fairly. Please tell us if you have a concern or complaint about our service so we can work to resolve it.
 
How to complain
You can contact our Internal Complaints Manager by:

  • Phone: 0211335464

  • Email: chloe@sebom.co.nz (use subject line: “Complaint – [Your Name]”)

 
Please include details of your complaint and how you would like it resolved.
 
Our internal complaints process

  1. All complaints are recorded in our system with relevant details.

  2. We will consider your complaint and advise how we propose to resolve it. Where possible, we aim to resolve it immediately.

  3. If not resolved immediately, we will acknowledge receipt within 2 business days and may request additional information.

  4. We aim to resolve complaints within 10 working days. If more time is needed, we will inform you of the expected timeframe.

  5. We will contact you to confirm the outcome and our proposed resolution.

 
If you are not satisfied – free independent dispute resolution

If we cannot resolve your complaint to your satisfaction, you can refer it to our independent dispute resolution scheme. 

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We are a member of Financial Services Complaints Limited (FSCL) – a Financial Ombudsman Service, an approved service that is free and impartial. It can investigate and help resolve complaints we have not been able to settle.

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You can contact Financial Services Complaints Limited (FSCL) – a Financial Ombudsman Service at:

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