Eureka Financial Services
  • Disclosure
    Statement

    Important information that you might like to know about us before we begin our journey together.

Licence status and conditions

Eureka Financial Limited (FSP: 679011, trading as Eureka Financial Services) holds a licence issued by the
Financial Markets Authority (FMA) to provide financial advice.

Nature and scope of the financial advice given

Eureka Financial Limited provides advice to our clients about their life and health insurances and Home
Loans. We are able to provide financial advice from the following product providers:
Life and disability insurances:
Partners Life, AIA, Chubb, Asteron and Fidelity Life.
Health Insurances:
Partners Life, NIB, AIA
Personal and Home Loans:
BNZ, ASB, AIA home loans, ANZ.
We do not provide advice on KiwiSaver or Investments.
Any financial advice we provide will take only take into account the information you have given us about your
particular needs, financial situation or goals.

Our duties

Eureka Financial Limited and anyone who gives financial advice on our behalf, 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 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).
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 should, 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 at https://www.fma.govt.nz.
The Code of Conduct standards can be read here: https://www.fma.govt.nz/assets/assets/code-of-professional-conduct-for-financial-advice-services.pdf

No fees, expenses or other amounts payable for our financial advice

Most of the time, our services are completely free. That’s because instead of being paid by you, we receive
revenue from our product suppliers like banks and insurers.
We feel it's important you understand how we are paid, after all we ask the exact questions to you when
applying for a home loan.
Circumstances where fees may be charged:
Specialty Residential Home Loan purchase - Either the result of credit impairment like defaults or the
loan is complex by nature. We will inform of you when this is the case.
Fees for lending examples outlined below are charged at 1% of the loan amount.

How we are renumerated

For life and health insurance, Eureka Financial Limited and the financial adviser receive commissions from the
insurance companies or Lenders that we give advice on. If you decide to take out insurance or lending, the insurer
or lender will pay a commission to Eureka Financial Limited and your financial adviser. The amount of the
commission is based on the amount of the premium or the size of the loan.
For Insurance the commission is between 50% and 200% of the first year’s premiums of your policy. The
amount depends on which insurance company and which insurance policy you choose. We also receive a
commission of between 3% and 20% of the premium for each year the policy remains in force.
For lending the commission is between .55% and .85% of the loan amount drawn down, the % depends on which
lender is chosen. In some instances, we may receive an annual servicing commission of up to .25% of the loan
balance in place.

How we manage any conflicts of interest or other incentives

To ensure that our financial advisers prioritise the client’s interest above their own, we follow an advice process
that ensures our recommendations are made on the basis of the client’s goals and circumstances.
All our financial advisers undergo annual training about how to manage conflicts of interest.
We also undertake a compliance audit, and a review of our compliance programme annually by a reputable
compliance consultancy firm.

Internal complaints process

If you have a problem, concern, or complaint about any part of the financial advice you have received from us,
you may contact us using any of the following means: in writing, by telephone or by email. Here are our contact
details.
Eureka Financial Services

Company Name : Eureka Financial Limited

Attention: Compliance Director

Address: 8/15 Accent Drive, East Tamaki, Auckland 2013

Phone Number: 0800 936626

Email Address: [email protected]

Our Complaint Handling Process

When we receive a complaint, we will consider it following our internal complaints process:
We will consider your complaint and let you know how we intend to resolve it. We may need to contact
you to get further information about your complaint.
We aim to resolve complaints within 10 working days of receiving them. If we can’t, we will contact you
within that time to let you know we need more time to consider your complaint.
We will contact you by phone or email to let you know whether we can resolve your complaint and
how we propose to do so.
If we can’t resolve your complaint, or you aren’t satisfied with the way we propose to do so, you can
contact Financial Services Complaints Limited.

Dispute resolution process

If our internal complaints process does not resolve your complaint to your satisfaction, you can contact our
external independent dispute resolution scheme. This service is free and may help investigate or resolve the
complaint.
We are a member of the Financial Services Complaints Limited’s approved dispute resolution scheme. You
can contact the Financial Services Complaints Limited at:

Company Name: Financial Services Complains Limited
Address: Level 4, Sybase House, 101 Lambton Quay, Wellington 6011
Postal Address: P O Box 5967, Wellington 6140
Phone: 0800 347 257 (freephone if within New Zealand) or
+64 4 472 3725 (if calling outside New Zealand)
Email: [email protected]
Website: www.fscl.org.nz

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