Licensing information 

​

Primestone Capital Limited (FSP1004864) is a Financial Advice Provider (FAP) licensed and regulated by the Financial Markets Authority to provide financial advice. 

​

Nature and scope of the advice 

 

We provide financial advice to our clients about the following financial advice products from a broad range of providers. 

​

• Mortgages products including home loans, business loans, construction loans, refix, refinance, top-up 

• KiwiSaver schemes that we have advice arrangements 

 

We arrange approvals for new loans, negotiate rates and terms, advise on lending structure and arrange loan documentation so that the loan can be settled. We also review, renegotiate, and restructure existing loans. 

​

We only provide financial advice about products provided by various product providers below. 

We work with most of the banks and finance companies as follows: 

​

• ANZ Bank New Zealand Limited 

• Westpac New Zealand Limited 

• BNZ 

• ASB 

• ASAP Finance Limited 

• Avanti Finance 

• Cressida Capital 

• DBR 

• First Mortgage Trust 

• Heartland Bank 

• Liberty Financial Limited 

• Unity 

• SBS Bank 

• Select Home Loan 

• Southern Cross 

• The Co-operative Bank 

• Bank of China (New Zealand) Limited 

• Industrial and Commercial Bank of China (New Zealand) Limited 

• Basecorp Finance 

• CFML 

• General Finance 

• Pallas Capital 

• BIZCAP 

• Funding Partners 

• Midlands Funds Management 

• Finbase 

• PROSPA 

• Vincent Capital 

​​

We have arrangements with providers of the following KiwiSaver schemes: 

• Generate KiwiSaver Scheme 

• Booster KiwiSaver Scheme 

• Pathfinder KiwiSaver Plan 

• Milford KiwiSaver Plan 

• NZ Funds 

​

Primestone Capital Limited excludes areas of advice service relating to Foreign Currency Transfers, Fire & General Asset Insurance, Life, Disability and Health Insurance, Asset Finance, and UK Pension Transfers. We can help you with other services through our referral partners to make it easier for you. However, we are unable to give advice on the products they offer. You are free to use other providers of your choice or undertake your own research. 

​

We also have a number of relationships with Building Inspectors, Solicitors, Conveyancers, Accountants, Property Managers, Building Brokers, Building Companies, Buyers Agents, Financial Advisers, Real Estate Agents, and other property related services in which we recommend and share in our conversations, follow ups, communications and client guides. We are unable to offer legal or tax advice and recommend you consult your solicitor or accountant for this type of advice. For many of our referral partners we do not receive any commission or referral fees, however, in some instances, we do receive a referral fee. We will provide you with more details about the referral commissions we are eligible to receive when we make the referral. 

​

Fees or expenses 

 

Generally, Primestone Capital Limited usually won’t charge you any fees for the financial advice your adviser provides you. 

​

For mortgages, this is possible because, on the settlement of a loan, Primestone Capital Limited usually receives a commission from the lender. Any exceptions to this general position are explained below. 

​

Primestone Capital will invoice you with a one-off fee if the following occurs: 

​

(a) When we do not receive a commission from the lender: 

If you request financial advice and no commission is received from the lender, Primestone Capital Limited will need to invoice you for a one-off fee for our services. Any such fee would be agreed to and authorised by you in writing before your services were completed and would be based on an estimate of the time your adviser spent providing the advice. (This may arise in the rare event that you request that Primestone Capital Limited provide services in relation to either a product that is offered by a lender that we do not hold accreditation with or a product that is outside usual arrangements with our product providers). 

​

(b) Where a lender ‘claws back’ commission it has paid to us if you refinance or pay back your loan early. Lenders apply a remuneration clawback from the adviser when a loan is not retained for a minimum period generally within 27 months. The timeframe can vary, as it is lender specific, timeframes specific to your lender will be outlined prior to submitting an application to the chosen lender. Clawbacks most often apply where the loan was disclosed by the client for long term residential or investment purposes but where the borrower chose to sell the property or refinance inside the first 27 months. Where a clawback or partial clawback applies, the client will be charged directly for any shortfall in remuneration. The fee would be calculated at a rate of $250 per hour up to a maximum of $2,500 as a recovery cost for the adviser’s time spent providing services to you in connection with the applicable mortgage. This fee has been calculated on an average of 10 hours of advice, negotiation, and administration to complete/submit your loan application to the provider at an hourly rate of $250. 

​

(c) In some cases, where we put in a lot of work to a loan application, and then you withdraw it. Where in good faith substantial work has been applied towards any loan application and the application has been withdrawn by the client, at the discretion of the adviser, a minimum fee of $500 will be charged. We will provide you with more information about any fee that applies to you, once we know more about your needs. 

​

You will not have to pay a fee if; 

​

(a) Primestone Capital Limited was given the opportunity but was unable to obtain subsequent finance approval. 

​

(b) You paid and agreed to an upfront fee when the mortgage was originally drawn and Primestone Capital Limited did not receive any commission. This is the case in most short-term contracts. 

​

(c) In Primestone Capital Limited opinion, the early repayment of the mortgage cancellation was caused by an exceptional change of circumstances for you. 

​

We may also receive a fixed rate roll over fee of between $0.00 to $150.00 from the lender if I assist in refixing your loan. 

​

For KiwiSaver scheme: 

​

In most cases, Primestone Capital will not charge you a fee for our services. If we offer you a service that will cost you, we will inform you beforehand and get your explicit agreement before we provide you with that service. 

​

Conflicts of interest and commissions 

 

Primestone Capital Limited receives commissions from the lenders and KiwiSaver scheme providers through which we place business. 

​

We receive a commission from the product providers/lenders through which we place business. The amount of the commission we receive depends on the product providers and the financial advice product we advise on. Typically, we receive an upfront initial commission of between 0.55% to 3.00% of the loan amount at drawdown and an ongoing commission of between 0.00% to 0.20% of the loan outstanding at the relevant time. 

​

We will provide more specific details of these commissions at the time our advice is given. 

Our company has advisers who also serve as directors and shareholders. 

​

Commitments to product suppliers 

 

We are neither contractually aligned, nor subject to business volume requirements to any one particular provider. The business is a member of the NZ Financial Services Group Limited’s (NZFSG) aggregator network. As a member of this network, Primestone Capital Limited can help clients get access to solutions to assist them in getting closer to their financial goals. As a member of NZFSG’s network, Primestone Capital Limited receives compliance services, discounted/free software for our business, and subsidised training for our advisers. 

​

To ensure we prioritise our clients’ interests: 

​

• We follow an advice process that ensures our recommendations are made appropriately, based on clients’ goals and circumstances. 

• All our advisers undergo annual training about how to manage conflicts of interest. 

• We maintain registers of conflicts of interests and the gifts and incentives we receive. These registers are monitored regularly, and additional training is provided as required. 

• We engage a reputable external compliance provider to provide ongoing checks of our advice. 

 

Complaints handling and dispute resolution 

 

If you are not satisfied with our service or financial advice, please tell us as soon as possible. 

​

Call: 021 104 3695 

Email: michelle@primestonecapital.co.nz 

Write to: Level 4, 1 Kenwyn Street, Parnell, Auckland 1052 

​

When we receive a complaint: 

​

We will consider your complaint and let you know how we intend to resolve it. Where possible, we try to resolve your complaint immediately. 

​

If we are unable to resolve your complaint immediately, we will acknowledge your complaint within 2 business days. We may contact you to get further information about your complaint. 

​

We aim to resolve complaints within 10 working days of receiving them. If we need more time to investigate your complaint, we will let you know when you can expect to receive a response to your complaint. 

​

We will contact you by phone, email or letter to let you know whether we can resolve your complaint and how we propose to do so. 

 

If we cannot agree on how to fix the issue, or if you decide not to use our internal complaints process, you can contact our external disputes resolution scheme, Insurance & Financial Services Ombudsman Scheme Inc (IFSO). IFSO provides a free and independent dispute resolution service that may help to resolve your complaint if we haven’t been able to do so to your satisfaction. To contact IFSO: 

​

Call: 0800 888 202 

Email: info@ifso.nz 

Write to: PO Box 10-845, Wellington 6143, New Zealand

​

Duties information 

 

Primestone Capital Limited and our advisers 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; 

• exercise care, diligence, and skill; 

• meet standards of competence, knowledge, and skill set by the Code of Professional Conduct for Financial Advice Services 

• meet standards of ethical behaviour, conduct, and client care set by the Code of Professional Conduct for Financial Advice Services. 

 

Contact details 

 

Primestone Capital Limited (FSP1004864) is the Financial Advice Provider. 

​

Call: 021 104 3695 

Email: michelle@primestonecapital.co.nz 

​

Write to: Level 4, 1 Kenwyn Street, Parnell, Auckland 1052 

A written copy of this information is available upon request.