IMPORTANT INFORMATION TO KNOW

This document sets out important information about the financial advice service provided by Yao & Shun Investment Limited (FSP776491), It is important that you read it carefully to ensure you understand it. Please contact us if you have any queries. We will be happy to help.

Licensing Information

Yao & Shun Investment Limited (FSP776491) is a Licensed Financial Advice Provider, issued by
the Financial Markets Authority (FMA) to provide financial advice services. And consisting of Sen Gao (FSP631709) as a Financial Adviser.

If you wish to view YS Mortgage's registration and license, please go to the Financial Service Providers Register (https://fsp-register.companiesoffice.govt.nz) and search our company Financial Service Provider (FSP) numbers FSP776491 and FSP631709 for Yao & Shun Investment Limited and Sen Gao respectively. As a licensed Financial Advice Provider and Financial Adviser, We has standard conditions to our licence. There are no conditions specific to YS Mortgage nor limitations or restrictions on the advice that may be given.

Nature and Scope of our Financial Advice Service

YS Mortgage only provides financial advice about the product from certain mortgage providers. They are:
ANZ, ASAP Finance, ASB, Avanti Finance, Bank of China, Basecorp Finance, Bluestone Mortgages, BNZ, Cressida Capital, DBR, First Mortgage Trust, Funding Partners, Heartland Bank, Liberty Finance, NZCU, Peppermoney, Prospa, Resimac, SBS Bank, Simplify, Southern Cross Partners and Westpac.

Fee or Expense

YS Mortgage does not charge fees, expenses or any other amount for the financial advice provided to clients unless these are agreed in advance with the client such as, for example, in the particular circumstances set out below.

YS Mortgage may charge a fee for the financial advice provided to a client where a client repays or refinances a mortgage within two years of inception. Whether a fee will be charged and the manner in which it will be charged will be advised when the advice is provided to the client.

Conflicts of Interest and Incentives

YS Mortgage and our financial advisers receive commissions from the providers on whose products we give financial advice (the lenders). If you decide to take out a piece of mortgage advice, the provider will pay a commission to YS Mortgage and to your financial adviser. The amount of commission is based on the amount or balance of the mortgage.

From time to time, product providers may also reward us for the overall business we provide to them. They may give us tickets to sports events, hampers, or other incentives.

To ensure that our financial advisers prioritise your interests above their own, we operate 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 goals and circumstances. Our financial advisers undergo an annual compliance review and receive training about YS Mortgage’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.

Complaints and Dispute Resolution

If you are not satisfied with the service you have received from YS Mortgage please contact us. We have an internal complaints process and undertake to investigate your concerns promptly and fairly.

Please contact your adviser directly in the first instance and you may contact us to make a complaint by telephone or in writing and preferably by email at Ying@ysmortgage.co.nz.

We will attempt to address your complaint with your adviser in the first instance and, if necessary, will escalate the complaint to YS Mortgage’s CEO for a final determination. We will let you know when we have received your complaint and will generally respond to your complaint within 10 business days.

If you feel your complaint has not been resolved to your satisfaction, then you should contact the adviser’s independent dispute resolution provider, which in most cases will be the Financial Dispute Resolution Service (https://www.fdrs.org.nz).

This service will cost you nothing and you can contact them:

Post : Freepost 231075, PO Box 2272, Wellington 6140

Freephone: 0508 337 337

Email: enquiries@fdrs.org.nz

You also have the right to address your complaint to the Financial Markets Authority (FMA). Details of the FMA complaints process are available on the FMA website ( https://www.fma.govt.nz). The FMA can also be contacted at: Level 2, 1 Grey Street, PO Box 1179, Wellington 6140 or by phone 04 472 9830.

YS Mortgage’s Duties to you

YS Mortgage, and anyone who gives financial advice on our behalf, has 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); and
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 ought to 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 (https://www.fma.govt.nz).