YOUR MORTGAGE & INSURANCE EXPERTS

FREE CONSULTATION 0800 021 337

This is some key information you need to know to help you understand what type of advice Rethink Group can give you so that you can make an informed and confident choice when engaging our services. It is important that you read this disclosure.

Licensing Information
Rethink Group Limited holds a Financial Advice Provider Class 2 Full License issued by the Financial Markets Authority (FMA) to provide financial advice services. Our Financial Services Provider Number is FSP721271. As a licensed Financial Advice Provider, Rethink Group has standard conditions to our licence. There are no conditions specific to Rethink Group nor limitations or restrictions on the advice that may be provided.

There have been no professional indemnity insurance or negligence claims, dispute resolution actions, or disciplinary actions brought against Rethink Group.

Our office contact details are:
Address: 20 Woodridge Drive, Stanmore Bay, Whangaparaoa
Phone: 0800 021 337
Email: hello@rethinkgroup.co.nz
Website: www.rethinkgroup.co.nz

What services does Rethink Group offer?
Our services include:

  • Loans including mortgages, constructions loans, bridging finance, reverse mortgages, personal loans, and debt consolidation loans
  • Personal and business insurance (life cover, disability, income protection, mortgage protection, trauma, and health insurance)
  • KiwiSaver Advice
  • Managed Investment Funds Advice
  • Retirement Planning
  • Personalised mortgage reduction plans
  • Budgeting Advice

What are our duties and obligations to you?
We are bound by the duties of the Financial Markets Conduct Act (431I, 431K, 431L and 431M) to:

  • Meet the standards of competence, knowledge and skill set out in the Code of Conduct
  • Give priority to the clients’ interest, and
  • Exercise care, diligence, and skill, and
  • Meet the standards of ethical behaviour, conduct, and client care set out in the Code of Conduct

How much does Rethink Group charge?
Almost all of Rethink Group’s services are at no direct cost to you as Rethink Group is remunerated by the financial product providers by way of commission.

The exceptions to this:

  • In the event of early repayment of a mortgage by sale of property, refinancing away from the lender to another lender, or by repaying your mortgage in full within 27 months from the original drawdown date, Rethink Group may charge you for the hours spent on the advice provided. This is charged at $200 per hour (plus GST) and is capped at 15 hours being $3,000 (plus GST). The fee we charge you will not exceed the amount of commission we have to repay to the lender.
  • Certain mortgage products offered by non-bank lenders and finance companies do not attract commission and therefore Rethink Group will charge a fee for these products. This fee is typically between 0.75 – 1.00% of your loan amount. It will be discussed with you in advance and agreed in writing prior to the loan being finalised
  • In the event of an insurance policy being cancelled within 24 months of the policy start date, Rethink Group may charge you for the hours spent on the advice provided. This is charged at $200 per hour (plus GST) and is capped at 15 hours being $3,000 (plus GST). The fee we charge you will not exceed the amount of commission we have to repay to the insurance company.
  • After engaging Rethink Group for financial advice, if you elect not to continue engaging Rethink Group to settle the mortgage or finalise the insurance product, Rethink Group may charge you for the hours spent on the advice provided. This is charged at $200 per hour (plus GST) and is capped at 10 hours being $2,000 (plus GST).
  • Retirement planning, wealth creation or budgeting advice is charged based on the time taken to prepare our advice. This is charged at $200 per hour (plus GST). The total time to prepare our advice will be discussed with you in advance and agreed in writing once nature and scope of advice sought is known.
  • Personalised mortgage reduction plans incur a one-off fee of $2,500 (plus GST).

 
Which mortgage lenders does Rethink Group work with?
Our list of 24 approved lending providers is:

ANZ Bank of New Zealand Limited Sovereign Home Loans (AIA)
ASB Bank Limited The Co-Operative Bank Limited
Westpac Banking Corporation SBS Limited
Bluestone Mortgages NZ Limited Bank of China Limited
Pepper New Zealand Limited Resimac Financial Securities Limited
Liberty Financial Limited First Mortgage Trust Limited
Avanti Finance Limited Basecorp Finance Limited
Heartland Bank Limited (reverse mortgages) DBR Limited
ASAP Finance Limited Southern Cross Partners Limited
Unity Credit Union Cressida Capital One Limited
Funding Partners Limited FICO Finance Limited
Gold Band Finance Limited Metro Finance Limited

Which insurance companies does Rethink Group work with?
Rethink Group can recommend 5 insurance providers:

Partners Life Limited Asteron Life Limited
AIA New Zealand Limited Fidelity Life Assurance Company Limited
Southern Cross Medical Care Society NIB NZ Limited

Which KiwiSaver providers does Rethink Group work with?
Rethink Group works with 2 KiwiSaver providers:

Booster Investment Management Limited Generate Investment Management Limited

Which managed investment fund providers does Rethink Group work with?
Rethink Group works with 2 Managed Investment Fund providers:

Booster Investment Management Limited Generate Investment Management Limited

How does Rethink Group deal with conflicts of interest?
Rethink Group and our Financial Advisers receive commissions from the providers on whose products we give financial advice (the lenders and insurers). If you decide to take out a mortgage or insurance, the provider will pay a commission to Rethink Group and to your Financial Adviser. The amount of commission is based on the amount of the mortgage and/or the insurance premium.

From time to time we may receive commission, tickets to sports events, gifts, hampers, or other incentives for referring you to our business partners for products such as Fire and General insurance, currency exchange and business loans. These business partners include:

Prospa Business Loans Zip Business Capital
Crombie Lockwood Insurance Brokers Tower Insurance
Initio Insurance XE.com

To ensure that we prioritise your interests above our own, Rethink Group does significant due diligence to ensure that all business partners are of the highest quality and compliance standards. Rethink Group operates a comprehensive and robust framework of policies and procedures and follow an advice process that ensures our recommendations are made on the basis of your best interests after considering your goals and financial circumstances. Our Financial Advisers undergo an annual compliance review and receive ongoing training regarding Rethink Group’s policies and procedures including managing conflicts of interest. We maintain and monitor registers of conflicts of interests, and the gifts and incentives we receive.

Does Rethink have any previous disciplinary history or reliability event?
A reliability event is something that may materially influence your decision on seeking advice from Rethink Group. Some examples of reliability events are legal proceedings against us or if our Directors have been bankrupt in the last four years.

There have been no Professional Indemnity Insurance or negligence claims, disputes resolution actions, or disciplinary actions brought against Rethink Group.

Do you have a complaint or problem?
Rethink Group aims to provide you with the highest quality service and support. But if you do have a problem, concern, or complaint, please tell us so that we can try to fix the problem. Our complaints process outlined below aims to address your concerns:

Step 1 – Let’s sort it out
The first step is to address your complaint with your Financial Adviser to ensure they are aware of your concerns. This can be done verbally or in writing and will start the official process.

Step 2 – Review
If your complaint is not resolved in Step 1, you can call or email our internal complaints manager:

Email: hello@rethinkgroup.co.nz
Phone: 0800 021 337

They will record your complaint and strive to resolve your complaint as early as possible. You should know the steps we are taking to address your concerns within 48 hours of starting Step 2.

Step 3 – We are a participant of the Financial Dispute Resolution Service
If your complaint cannot be resolved by Step 2, we encourage you to refer your complaint to the Financial Dispute Resolution Service. This is a free, independent dispute resolution scheme and will help resolve any disagreements. This process may take several weeks as the procedure is overseen by an independent adjudicator.

Phone: 0508 337 337
Email: enquiries@fdrs.org.nz
Website: www.fdrs.org.nz

This disclosure information can be provided to you in writing upon request. Please contact us or request a copy from your Rethink Financial Adviser. When engaging Rethink Group, your Adviser will automatically provide you a written copy of their Financial Adviser disclosure as well.

Version 1.4 – 15 March 2023