Disclosure Statement

Licensing Information

Prime Wealth Group Limited (FSP1008714) is a financial advice provider licensed and regulated by the Financial Markets Authority (FMA) to provide financial advice.

Nature and Scope of Financial Advice Services

We provide financial advice on residential and personal loan products, tailored to meet your needs and objectives.

Services We Provide

Our services include assistance with:

  • Home loans
  • Investment loans
  • Construction loans
  • Business loans
  • Commercial loans
  • Development loans
  • Other non-retail loans

Banks and Lenders We Use

We source loans from a wide panel of approved lenders, including:
ANZ, Westpac, BNZ, ASB, ASAP Finance Limited, PROSPA, Avanti Finance, Cressida Capital, DBR, First Mortgage Trust, General Finance, Heartland Bank, Liberty Financial Limited, Unity, Pepper Money, SBS Bank, Southern Cross, AIA Go Home Loan, The Co-operative Bank, Bank of China (New Zealand) Limited, Basecorp Finance, CFML, Pallas Capital, BIZCAP, Funding Partners, and Midlands Funds Management.

Referral Partners

We also collaborate with referral partners to offer additional services, including:

  • Tower – F&G
  • Asset Finance
  • PROSPA
  • UK Pension Transfers
  • XE Money
  • FastConnect

Products and Services Not Provided

We do not provide advice on:

  • Investment products (e.g., shares, bonds, managed funds, or KiwiSaver).
  • Estate planning (e.g., wills, trusts, or enduring powers of attorney).
  • General insurance products.
  • Personal risk insurance products.

For these services, we recommend consulting with appropriate specialists.

Fees, Expenses, or Other Amounts Payable

Most of our financial advice services are free, as we are remunerated through commissions from product providers. However, fees may apply in specific circumstances:

  1. No Commission from Lender: If a lender does not pay a commission, we may charge a service fee. This will be disclosed and agreed upon in writing before proceeding.
  2. Early Loan Repayment or Refinancing: If a loan is repaid or refinanced within 28 months, requiring us to repay a commission to the lender, we may charge a fee. This fee will not exceed the repaid commission amount.

Any applicable fees will be communicated in advance, with clear payment terms.

Conflicts of Interest and Commissions

We receive commissions from lenders when loans are settled. These commissions include:

  • Upfront Commission: A percentage of the loan amount.
  • Trail Commission: Based on the remaining loan balance over time.

Occasionally, we may receive non-monetary benefits (e.g., gifts or event tickets) from lenders.

To manage conflicts of interest, we:

  • Prioritize your needs and goals.
  • Follow a structured advice process to ensure recommendations are in your best interest.
  • Provide full disclosure of commission structures.
  • Conduct regular training on managing conflicts of interest.

Complaint Handling and Dispute Resolution

We take all complaints seriously and aim to resolve them promptly.

If you have a complaint, please contact us:

  • Phone: 029 968 1419
  • Email: gary@primewealth.co.nz
  • Post: 13M/156 Vincent Street, Auckland Central, Auckland, New Zealand

Complaint Process:

  1. We will acknowledge receipt of your complaint within 2 business days.
  2. We will investigate the matter and may request further details.
  3. We aim to resolve complaints within 10 working days.

If we cannot resolve your complaint, you can contact our external dispute resolution service:

Financial Services Complaints Ltd (FSCL):

This service is free and independent.

Duties Information

Prime Wealth Group Limited and our financial advisers are bound by the Financial Markets Conduct Act 2013 to:

  • Act in your best interests: Prioritize your needs above all else.
  • Exercise care, diligence, and skill: Provide professional and competent advice.
  • Meet industry standards: Comply with the Code of Professional Conduct for Financial Advice Services, including ethical behavior, client care, and competence requirements.

Contact Details

Prime Wealth Group Limited

  • Phone: 029 968 1419
  • Email: gary@primewealth.co.nz
  • Address: 13M/156 Vincent Street, Auckland Central, Auckland, New Zealand