LICENSING INFORMATION:

CLARK LENDING SERVICES LIMITED (FSP116904) holds a licence issued by the Financial Markets Authority to provide financial advice.

NATURE & SCOPE OF THE ADVICE:

CLARK LENDING SERVICES LIMITED provides advice to our clients about their mortgages, life insurance and health insurance. Our financial advisers provide financial advice in relation to these financial advice products.

We only provide financial advice about products from certain providers:

For mortgages, we presently work with AIA/Sovereign Home Loans & ANZ Bank Limited
For life insurance, we presently work with AIA
For health insurance, we presently work with AIA

Clark Lending Services Ltd retains the ability to review providers if their philosophy and products would be more beneficial to our clients.

In providing you with financial advice, we will only consider existing term life, trauma, income protection and health insurance policies (if any). We will not provide advice on existing whole of life or endowment products, so you will need to consult a specialist if you would like advice on those products

FEES OR EXPENSES:

CLARK LENDING SERVICES LIMITED may charge a fee for implementing the mortgage advice after consultation and approval by the client.

CLARK LENDING SERVICES LIMITED will not charge a fee for the financial advice provided to a client where a client cancels mortgage product; or a life or health insurance policy within two years of inception.

CONFLICTS OF INTEREST AND INCENTIVES

For life insurance and health insurance, CLARK LENDING SERVICES LIMITED and the financial adviser receive commissions from the insurance companies on whose policies we give advice. If you decide to take out insurance, the insurer will pay a commission to CLARK LENDING SERVICES LIMITED and your financial adviser. The amount of the commission is based on the amount of the premium.

For mortgages, CLARK LENDING SERVICES LIMITED and the financial adviser receive commissions from the banks with whom we arrange mortgages. If you decide to take out the mortgage, the bank will pay a commission to CLARK LENDING SERVICES LIMITED. The amount of the commission is based on the amount of the mortgage.

As a financial adviser, CLARK LENDING SERVICES LIMITED and the financial adviser from time-to-time may receive discounts on interest rates, premiums and fees by providers.

To ensure that our financial advisers prioritise our clients’ interests above their own, we follow an advice process that ensures our recommendations are made on the basis of each client’s goals and circumstances.

DUTIES INFORMATION:

CLARK LENDING SERVICES LIMITED and anyone who gives financial advice on our behalf, have duties under the Financial Markets Conduct Act 2013 relating to the way that we give advice.

We are required to:

give priority to your interests by taking all reasonable steps to make sure our advice isn’t materially influenced by our own interests
exercise care, diligence, and skill in providing you with advice
meet standards of competence, knowledge and skill set by the Code of Professional Conduct for Financial Advice Services (these are designed to make sure that we have the expertise needed to provide you with advice)
meet standards of ethical behaviour, conduct and client care set by the Code of Professional Conduct for Financial Advice Services (these are designed to make sure we treat you as we should, and give you suitable advice).

This is only a summary of the duties that we have.

More information is available by contacting us, or by visiting the Financial Markets Authority website at https://www.fma.govt.nz