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Public Disclosure

EW Finance (EW GROUP LIMITED) – Public Disclosure Statement

This document gives you the important information about our services and what you can expect from us. We want to work together with you to ensure the best possible outcome.

1. About Us and Our Licence

  • Who we are:
    • Legal Name: EW GROUP LIMITED
    • Trading Name: EW Finance
    • NZBN: 9429041716250
    • FSP Number: [To be inserted upon successful FSPR registration]
    • Director: Bora Kim

 

  • Our Contact Details:
    • Phone: +64 9 216 2988
    • Email: info@ewfinance.co.nz
    • Address: Level 11, Tower 2, 205 Queen Street, Auckland Central, Auckland 1010
    • Website: www.ewfinance.co.nz

 

  • Our Licence to Operate: EW GROUP LIMITED (trading as EW Finance) is preparing its application to the Financial Markets Authority (FMA) for a Financial Advice Provider (FAP) Licence. We intend to operate under a Class 2 Licence, which will permit us to engage a network of financial advisers to provide financial advice on our behalf.
  • Important Regulatory Notice: EW GROUP LIMITED is currently in the process of applying for registration on the Financial Service Providers Register and for a Financial Advice Provider Licence from the FMA. Once registered, please note that EW GROUP LIMITED (trading as EW Finance)’s registration on the New Zealand register of financial service providers does not mean that EW GROUP LIMITED (trading as EW Finance) is subject to active regulation or oversight by a New Zealand regulator in all aspects of its business beyond the provision of financial advice services under its licence.

 

2. Scope of Our Financial Advice Services

  • What We Can Help You With: Our network of financial advisers provides expert advice on a range of financial products to help you achieve your property and financial goals. These services include:
    • Residential Mortgages: Whether you are buying your first home, refinancing, or investing in property.
    • Property Development Funding: Sourcing finance for your residential or commercial development projects.
    • Bridging Finance: Short-term funding solutions to bridge the gap between buying and selling property.
    • Large-Scale Funding: Arranging complex or large-scale financing solutions.
    • Insurance: Advice on life, trauma, income protection, and health insurance to protect you and your family.

 

  • What We Can’t Legally Help You With: To ensure you receive specialised advice from the right experts, our advisers do not provide advice on:
    • Investments (such as shares or investment funds).
    • Legal or tax matters. We strongly recommend you consult your solicitor or accountant for advice in these areas.

 

3. How We Are Paid (Fees and Costs)

  • Commission: For most of our services, there is no direct cost to you. We are paid an upfront commission by the lender or insurance provider once your loan is settled or your policy is issued. In some cases, we may also receive a smaller ongoing or trail commission over the life of the loan or policy.
  • Clawback Recovery Fee: If you repay your loan in full within a specified period (typically within 27 months of settlement), the lender may require us to repay some or all of the upfront commission we received. This is known as a “commission clawback”. In this situation, to ensure we are fairly compensated for the services we provided, we may charge you a Clawback Recovery Fee to recover some or all of these costs. This fee will be no more than the amount of commission clawed back by the lender. The amount charged will typically be scaled based on how long the loan was active. For example:
    • 0-12 months: up to 100% of the commission may be recovered.
    • 13-27 months: up to 50% of the commission may be recovered. We will always discuss the potential for this fee with you before you finalise your loan.
  • Service Fees: EW Finance and its network of advisers do not charge any other service fees for the advice provided. Our remuneration comes from the commissions paid by lenders and providers.

 

4. Conflicts of Interest and How We Manage Them

Your interests always come first. Our promise is to always provide the best possible solution and put your interests at the forefront of everything we do.

  • Impartial Advice: We are committed to providing impartial advice. Our advisers are paid the same regardless of which lender or provider you choose for your loan or insurance. This ensures there is no incentive for them to recommend one product over another, and their advice is focused purely on what is right for you.
  • Referrals from Real Estate Agents: We have a strong network of relationships with real estate agents. We may receive client referrals from these agents, which is part of our business. However, this relationship does not influence the advice you receive. Our advisers have a duty to act in your best interest and will not recommend a particular property or loan based on a referral relationship.
  • How we manage conflicts: We maintain a register of conflicts of interest, and our advisers are provided with guidance on how to manage these. Where there is potential for a conflict of interest, you can expect this to be properly and fully disclosed to you.

 

5. Our Duties and Obligations to You

We take our responsibilities to you seriously. EW Finance and all financial advisers operating under our licence are bound by the duties set out in the Financial Markets Conduct Act 2013 and the Code of Professional Conduct for Financial Advice Services. We are required to:

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


6. Reliability Statement

We have robust processes for engaging financial advisers to join our network. You can be confident that any adviser representing EW Finance has been subject to necessary checks and has not been bankrupt, insolvent, convicted of any serious offence, or subject to any public disciplinary action.

 

7. Complaints Handling and Dispute Resolution

We are committed to providing you with the highest quality service and support. However, if you do have a complaint or encounter a problem, please let us know as soon as you can. We have a formal internal complaints process and will do our best to resolve your concerns quickly and fairly.

Step 1 – Let’s Sort it Out

Please discuss your complaint with the financial adviser you have been dealing with first. By raising your concerns directly with them, many issues can be resolved promptly.

  • You can call your adviser directly on their contact number.
  • You can email them.
  • They will acknowledge your complaint and will try to resolve it with you.

Step 2 – Internal Complaints Process

If you are not satisfied with the outcome of Step 1, or if you would prefer not to discuss the issue with your adviser, you can make a formal complaint by contacting our internal Complaints Officer.

  • Complaints Officer:
    • Email: info@ewfinance.co.nz
    • Phone: +64 9 216 2988
    • Address: Level 11, Tower 2, 205 Queen Street, Auckland Central, Auckland 1010

Please provide details of your complaint. Our Complaints Officer will investigate your complaint, and we will provide you with a written response. We aim to resolve all complaints within 48 hours where possible, but we will keep you informed of our progress if we need more time.

Step 3 – Our External Dispute Resolution Scheme

If we are unable to resolve your complaint through our internal process to your satisfaction, you can refer your complaint to our external dispute resolution scheme. EW GROUP LIMITED is a Participant of the Insurance & Financial Services Ombudsman Scheme (IFSO Scheme). Our Participant number is 5008038.

The IFSO Scheme is a free and independent dispute resolution service that will consider your complaint and, either reach an agreed outcome, or make a decision.

  • You can contact the IFSO Scheme at:
    • Address: PO Box 10-845, Wellington 6143, New Zealand
    • Freephone: 0800 888 202
    • Email: info@ifso.nz
    • Website: www.ifso.nz

If you wish to complain to the IFSO Scheme, you must do so within 3 months of the date we notify you that we have reached a “deadlock” (meaning we can no longer assist you through our internal process). The IFSO Scheme will guide you through their process for resolving your complaint.

 

8. Privacy Policy

Anything you discuss with us, and any information you give us, stays secure and confidential. Information provided by you will be used by EW Finance for the purpose of providing advice to you and may also be used by any lender when implementing any of our recommendations. We may also release information to other professionals such as solicitors or accountants when such services are required to complement our advice and as requested by you.

You can access our full Privacy Policy at privacy-policy.