Licence status and conditions

Kripa Financial Solutions Limited (FSP 771115) holds a licence issued by the Financial Markets Authority to provide financial advice services.

Our contact details

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 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 engage financial advisers to provide advice on the following financial products:

Residential and personal loan products

Through our advisers, we provide financial advice on loan products only from the following providers (also known as lenders):

Fees, expenses, or other amounts payable

In the 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 where the situation warrants it. Whether a fee will be charged, the manner in which it will be charged, and the date by which it 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 through a salary or by taking 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 interest and the gifts and incentives received.

Complaints handling and dispute resolution

We take all complaints seriously and work 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 021 933592 between the hours of 8:30 am - 5 pm weekdays

• 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 analysing 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 Limited (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 4 472 3725

Address: Level 4, 101 Lambton Quay, Wellington 6011

PO 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), ensuring we have the expertise necessary to provide you with appropriate advice. 

• Give priority to your interests by taking all reasonable steps to ensure the advice we provide is not materially influenced by our own interests or those of any other person connected with providing the advice.

• Exercise care, diligence, and skill that a prudent person engaged in the occupation of giving related financial advice would exercise in the same circumstances.

• 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.