License status and conditions
Solidity Financial Services Limited (FSP755351, trading as Solidity Financial Services Limited) holds a license issued by the Financial Markets Authority (FMA) to provide financial advice.
Nature and scope of the financial advice given
Solidity Financial Services Limited provides advice to our clients about their life and health insurances, as well as home loans.
We are able to provide financial advice from the following product providers:
| Life and disability insurances | Partners Life, AIA, Cigna and Fidelity Life. |
| Health Insurances | Partners Life, NIB, AIA, Cigna and Fidelity Life. |
| Personal and Home Loans | ANZ, ASAP Property Finance Specialists, ASB, Select Asset Finance, Avanti Finance, Basecorp Finance, BNZ, CFML Loans, Cressida Capital, First Mortgage Trust, Liberty Financial, Pepper Money, Resimac, SBS Bank, Select Home Loans, Southern Cross Partners, Sovereign, The Cooperative Bank and Westpac. |
| Business owners insurances | Partners Life, AIA, Cigna and Fidelity Life. |
We do not provide advice on Kiwi Saver 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
Solidity Financial Services 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 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 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 remunerated
For life and health insurance, Solidity Financial Services and the financial adviser receive commissions from the insurance companies on whose policies we give advice. If you decide to take out insurance, the insurer will pay a commission to Solidity Financial Services and your financial adviser. The amount of the commission is based on the amount of the premium.
The commission is between 50% and 100% of the first year’s premiums of your policy. The amount depends on which insurance company and which insurance policy you choose. I also receive a commission of between 3% and 20% of the premium for each year the policy remains in force.
In addition, Solidity Financial Services Limited receives commission of between 0% and 130% of the first year’s premiums of your policy, depending upon which insurance company and which policy you choose.
How we manage any conflicts of interest or other incentives
To ensure that our financial advisers prioritize 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.
| Company Name | Solidity Financial Services Limited |
| Attention | The Complaints Officer |
| Address | 38 Eugenia Rise, Totara Heights, Auckland. |
| Telephone | 020 4013 8252 |
| Email address | admin@solidity.co.nz |
| Website | www.solidity.co.nz |
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 15 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 Complaints Limited |
| Address | Level 4, Sybase House, 101 Lambton Quay, Wellington 6011 |
| Postal Address | P O Box 5967, Wellington 6140 |
| Telephone | 0800 347 257 (freephone if within New Zealand) or
+64 4 472 3725 (if calling outside New Zealand) |
| Email address | complaints@fscl.org.nz |
| Website | http://www.fscl.org.nz/ |
Contact Details
Solidity Financial Services (FSP755351, trading as Solidity Financial Services Limited) is the Licensed Financial Advice Provider.
You can contact us at:
Solidity Financial Services
38 Eugenia Rise, Totara Heights,
Auckland 2105
020 4013 8252
admin@solidity.co.nz
www.solidity.co.nz