Important information
about Kripa Financial Solutions Limited FSP 771115
Licence status and conditions:
Kripa Financial Solutions Limited FSP 771115 holds a licence issued by the Financial
Markets Authority to provide financial advice service.
Our contact details are:
Address: 7 Culdaff Place, Mt Roskill, Auckland
Telephone: 021 933592
Email: simi@kripa.co.nz / office@kripa.co.nz
We provide financial advice on Mortgage Products/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 engage financial advisers to provide financial advice on the following financial products:
Residential and personal loan products
We, through our advisers, provide financial advice service about loan products only from the
following providers (also known as lenders):
| ANZ Bank New Zealand Limited | Cressida Capital | Pepper New Zealand Limited |
|---|---|---|
| AIA Services New Zealand limited | DBR Limited | Plus Finance Limited |
| ASAP Finance Limited | First Mortgage Trust | Resimac Financial Securities Limited |
| ASB Bank Limited | Funding Partners Limited | Southern Cross Partners |
| Avanti Finance Limited | Vincent Capital | Southland Building Society |
| Bank of China (New Zealand) Ltd | Liberty Financial Limited | The Co-operative Bank Limited |
| Bank of New Zealand | Heartland Bank | TSB Bank Limited |
| Basecorp Finance Limited | BIZCAP | Westpac New Zealand Limited |
| Bluestone Mortgages NZ Limited | China Construction Bank | Kiwi Bank |
| Prospa | Unity Money | Pallas |
| Go Lend |
Fees, expenses, or other amounts payable
In majority of cases, we do not charge any fee, expense or other amount for the financial advice
provided to you or for implementing that advice. Our remuneration is paid by the product providers
by way of commission.
However, we may charge a fee for the financial advice service provided to a client where a client
whether a fee will be charged, the manner in which it will be charged and the date by which the fee
will be payable will be advised when the financial advice service is provided to the client.
Conflicts of interest and commissions or other incentives
Residential and personal loan products
We receive commission from the lenders who provide residential and personal loan products. If you decide to take out a residential or personal loan, then the lender will pay commission based on the amount of loan settled with that lender or lenders.
Our advisers are remunerated either by payee salary or they take the drawings from Kripa Financial Solutions Limited.
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 prioritise 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 receive.
Complaints handling and dispute resolution
We take all complaints seriously and works to resolve them as quickly as possible.
If you are unhappy with our financial advice service, and wish to make a complaint, please contact
your financial adviser so he or she can try to put things right.
If you do not feel comfortable discussing your concerns with your adviser, you can:
• Call us on 021933592 between the hours of 8:30 am - 5 pm week-days
• Email us at simi@kripa.co.nz or office@kripa.co.nz
• Write to us at 7 Culdaff Place, Mt Roskill, Auckland addressing your letter to the attention of the Director.
How your Complaint will be handled
We will deal with your complaint using our internal complaints handling process. Accordingly,
• We will investigate your complaint by analyzing the information you provided us; and
• We may contact you to get additional information about your complaint.
We aim to resolve your complaint within 40 days of its receipt and advise you, in writing, our
proposed resolution to your complaint.
If we cannot resolve your complaint within 40 days of receipt (or any additional time you have given
us thereafter, at our request) you can contact the Financial Services Complaints Ltd (FSCL).
FSCL provides an independent external dispute resolution service to consumers with complaints
about their financial service providers. This service will cost you nothing and will help us to
investigate or resolve your complaint if it is not resolved to your satisfaction using our internal
complaints process.
You can contact the FSCL Scheme at:
Email: complaints@fscl.org.nz
Website: www.fscl.org.nz
Telephone: 0800 347 257 or +64 4 4723725
Address: Level 4, 101 Lambton Quay, Wellington 6011
P O Box 5967, Wellington 6140
Duties
We, and our financial advisers are bound by the following duties under the Financial Markets Conduct Act 2013 to:
• meet the standards of competence, knowledge, and skill set out in the Code of Professional
Conduct for Financial Advice Services (Code of Conduct), which form part of the wider regulatory
regime for financial advice and ensure we have the expertise necessary to provide you with
advice; and
• give priority to your interests by taking all reasonable steps to ensure that the advice given to you
is not materially influenced by our own interests or the interests of any other person connected
with the giving of advice; and
• exercise care, diligence, and skill that a prudent person engaged in the occupation of giving
related financial advice would in the same circumstances; and
• meet the standards of ethical behaviour, conduct, and client care set out in the Code of Conduct,
to treat you as we should and to provide you with suitable advice.
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