Financial Advice Provider
Plublic Disclosure Statement

Leapway Financial Consultants (2168881) Trading as Leapway is a Licensed Financial Advice Provider.
Phone: 09 948 5510
Email: info@leapway.co.nz
Address: 20 Florence Avenue, Orewa, Auckland, New Zealand.

License Status and Conditions

Leapway Financial Consultants Ltd (FSP number 551528) Trading as Leapway holds a Class 2 full licence issued by the Financial Markets Authority (FMA) to provide financial advice.

Authorised bodies

The conditions on our license authorize specific members of Leapway Financial Consultants Ltd to provide financial advice under Leapway's license from the FMA. These businesses are called ‘Authorized Bodies’.

  • A full list of the Authorized Bodies is located on the FSPR

Nature and scope of the financial advice given

Leapway provides advice to our clients about their mortgages, life insurance, health insurance and KiwiSaver. Our financial advisers provide financial advice in relation to these financial advice products. We only provide financial advice about products from certain providers:

Mortgages

For mortgages, We work with four banks and seven non-bank providers

Main Bank Providers: ANZ, ASB, BNZ, Westpac
Non-Bank Providers: AIA Go home loans, Avanti Finance, Liberty Financial, Bluestone, Resimac, Bayscorp Finance & Unity Finance

Life Insurance

For life insurance, we work with five companies

Partners Life, Fidelity Life, AIA, Asteron Life, Cigna life

Health Insurance

For health insurance, we work with five providers

AIA, Partners Life, Southern Cross, Accuro Health, NIB

KiwiSaver

For KiwiSaver, we work with two providers

Milford KiwiSaver, Booster KiwiSaver,  Generate KiwiSaver & NZ Funds KiwiSaver

In providing you with financial advice, we will only consider existing term life, trauma, income protection and health insurance policies (if any). We will not provide advice on existing whole of life or endowment products, so you will need to consult a specialist if you would like advice on those products.

Fire & General Insurance

We refer our clients to JB Insure, Rothbury Insurance brokers & Tower Insurance for any Domestic or Business insurance needs.

 

Fees, expenses and other amounts payable for our financial advice

 

Lifetime Cashflow Modelling Fees

Leapway charges a fee of $1,250.00 (plus GST) for our Lifetime Cashflow Modelling service.

 

Insurance Fees

Leapway may charge a fee if a client cancels their policy within the first 24 months. Leapway reserve the right to charge a professional fee of $250 per hour (plus GST) based on time spent on the application. This is capped at a maximum of 7 hours.

Mortgage Fees

Leapway may charge a fee if a client settles or refinances their home loan within the first 27 months. Leapway reserves the right to charge a professional fee of $250 per hour (plus GST) based on time spent on the application. This is capped at a maximum of 7 hours.

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. This fee will be payable by the client by the 20th of the month after the policy or Mortgage is cancelled.

KiwiSaver Fees

Leapway receives between 0.25% and 0.50% of the KiwiSaver balance from our KiwiSaver providers listed above. 

 

Fire & General Insurance Fees

We may receive a portion of the commission from our Fire and General insurance providers listed above. This percentage is usually between 10% - 25% of the commission received.

 

Conflicts of interest and incentives

Leapway and our Financial Advisers receive commissions from the providers on whose products we give financial advice (Insurers, Lenders and KiwiSaver providers). If you decide to take out Insurance, a Mortgage or KiwiSaver, the provider will pay a commission to Leapway and to your financial adviser. The amount of commission is based on the amount of the premium, lending or the KiwiSaver balance.

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

To ensure that our Financial Advisers prioritize our client’s interests above our own, we follow an advice process that ensures our recommendations are made on the basis of each client’s goals and circumstances. All our financial 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. Leapway monitors these registers, and provide additional training where necessary. Leapway performs an annual review of our compliance program.


Complaints handling and dispute resolutions

If you are not satisfied with our financial advice service in any way, you can make a complaint by emailing info@leapway.co.nz, or by calling us on 09 948 5510. You can also write to us at 20 Florence Avenue, Orewa, Auckland 0931.

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, and will aim to provide you with a realistic timeframe.
  • 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 our external dispute resolutions scheme (Financial Dispute Resolution Service)

The Financial Dispute Resolution Service provides a free, independent dispute resolutions service that may help investigate or resolve your complaint, if we haven’t been able to resolve your complaint to your satisfaction.

You can view their website: ww.fdrs.org.nz, contact them via email: enquiries@fdrs.org.nz, phone: 0508 337 337, or write to them at: Freepost 231075 PO Box 2272 Wellington 6140.

Website: www.fdrs.org.nz/complaints

Our duties

Leapway, 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 behavior, 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 www.fma.govt.nz.

Contact details

Leapway Financial Consultants Ltd (FSP551528) Trading as Leapway is a Licensed Financial Advice Provider.

Phone: 09 948 5510
Email: info@leapway.co.nz
Address: 20 Florence Avenue, Orewa, Auckland, New Zealand.