JD Finance

JD Finance Limited Publicly Available Disclosure

This document sets out the information that our business is required to make publicly available in accordance with the Financial Markets Conduct Regulations 2014 to help you decide if you want to seek our advice.

Jessie Dai, trading as JD Finance Limited.

JD Finance Limited (FSP1010799)

Changqing (Jessie) Dai (FSP1010797)

Phone: 0274233413

Email: jessie.jdfinance@gmail.com

Licensing Information

We operate as an Authorised Body under a Financial Advice Provider licence issued by the Financial Markets Authority (FMA) in the name of NZ Financial Services Group Limited (NZFSG) (FSP286965).

There are no conditions attached to this licence on the advice that may be given.

Our Duties

JD Finance Limited, and anyone who gives financial advice on our behalf, has duties under the Financial Markets Conduct Act 2013.

These duties are to:

  • Meet the standards of competence, knowledge, and skill and the standards of ethical behaviour, conduct, and client care set out in the Code of Professional Conduct for Financial Advice Providers.
  • Give priority to your interests.
  • Exercise care, diligence, and skill.

Our Products and Product Providers

We will help you choose and apply for a loan that is suitable for your needs from a panel of lenders (set out below). Once we have identified a lender and loan terms that are suitable for you, we will assist you in obtaining loan approval.

We source loans from a panel of lenders. The current lenders we can use are:

AIA Go Home Loan, ASB, ASAP Finance Limited, Avanti Finance, Basecorp Finance, BIZCAP, BNZ, CFML, Cressida Capital, DBR, Finbase, First Mortgage Trust, General Finance, Liberty Financial Limited, Midlands Funds Management, Pallas Capital, Pepper Money, PROSPA, SBS Bank, Select Home Loan, Unity, Xceda, Welcome, Southern Cross.

The specific product types and product providers each adviser can give advice on will be disclosed at an adviser level in their individual Disclosure Guide. Our advisers will provide their individual Disclosure Guide to you when you engage them, or you can request a copy from them at any time.

Fees and Expenses

Generally we won't charge you any fees for the advice that we provide to you. This is possible because, if you act on the advice given, we usually receive commission from the applicable product provider on settlement of a mortgage.

There are some exceptions to this general position which are explained below.

We may charge you a one-off fee in the following situations:

No commission: If you request that we provide services in relation to a product or service and we do not receive a commission, we may charge a fee.

Any such fee would:

  • Be agreed and authorised by you in writing before we complete the services
  • Be based on an estimate of the time spent providing the advice.

This may occur in rare cases where you request services relating to:

  • A product offered by a provider with whom we do not hold accreditation, or
  • A product that falls outside our usual arrangements with our product providers.

Clawback

If your loan is repaid within 28 months of settlement (Clawback Period), JD Finance Limited may have some or all of the original upfront commission 'clawed back' by the Lender.

This fee will be:

  • No more than $3,000 (plus GST if applicable)
  • Calculated based on $250 per hour (plus GST if applicable) for the time spent providing services to you in relation to the mortgage.

Examples of when a clawback recovery fee may apply include:

  • The loan is refinanced within the clawback period and JD Finance Limited was not given the opportunity to arrange the refinance
  • The property is sold and/or the loan repaid within the clawback period

We will not charge a clawback recovery fee if:

  • JD Finance Limited was given the opportunity to arrange new lending or refinancing but was unable to secure an approval or match a finance offer obtained elsewhere
  • JD Finance Limited charged you an upfront service fee for arranging the original loan

Should we need to charge you a fee, you will be invoiced and will be given 30 days to make payment.

Commissions and Other Incentives

If you proceed with a product on the basis of financial advice given by your adviser, the adviser, adviser business, and/or the licensee usually receives commission on settlement of the loan. We may also receive referral fees for referring business to other providers.

The types of payments may include:

  • Upfront commission (calculated as a percentage of the loan amount at drawdown).
  • Trail commission (calculated as a percentage of the outstanding loan balance over time).
  • Fixed rate roll over fee (from some lenders if we assist in refixing your loan).
  • Referral fees.

Further information about the commissions and incentives that are relevant to the advice you may receive, including the maximum percentages used to calculate the commissions, will be given to you by your Financial Adviser.

These commissions are used to:

  • Remunerate the financial adviser providing the advice
  • Cover business expenses including rent, staff costs, and IT resources
  • Pay fees to NZ Financial Services Group Limited for services provided in connection with operating under their Financial Advice Provider licence.

Conflicts of Interest

If there are any conflicts of interest apart from commission that could potentially influence the advice that we give, these will be shown in your Financial Adviser's Disclosure Guide.

Complaints

If you have a complaint about our service, please contact us.

You can contact our internal complaints service by:

Ph: 0274233413

Email: jessie.jdfinance@gmail.com

Please include 'Complaint - Your Name' in the subject line and outline the nature of your complaint and the resolution you are seeking.

We will acknowledge receipt of this within 24 hours. We will then record your complaint in our Complaints Register and notify our Licence Holder. We may want to meet with you to better understand your issues. We will then investigate your complaint and provide a response to you within 7 working days of receiving your complaint. If more time is required, we will inform you.

If we cannot agree on a resolution you can refer your complaint to our external dispute resolution service. This service is free and independent and will assist you to resolve things with us.

Details of this service are:

Financial Services Complaints Limited (FSCL)

Phone: 0800 347 257

Email: complaints@fscl.org.nz

OR

Financial Dispute Resolution Service (FDRS)

Phone: 0508 337 337

Email: enquiries@fdr.org.nz