Disclosures

Licensing information:

Paris Capital Advisory Limited (FSP1007709), trading as Paris Capital, operates under a Financial Advice Provider licence as an authorised body of Erskine and Owen Financial Advisory Limited (FSP771231). This licence is issued by the Financial Markets Authority and permits the provision of financial advice.

Nature and scope of the advice:

Commercial Lending:

• Business Loans
• Development Finance
• Property Investment Lending

Commission

Paris Capital may receive commissions at settlement from the relevant lender if you choose to take out a mortgage or loan following our advice.

Depending on the lender and the terms of the loan, the commission we receive would be up to  3% of the initial mortgage balance or amount funded.

This commission is paid from the relevant lender to Paris Capital. Paris Capital receives all commissions and client fees that are generated by our advisers.

Conflicts of interest

Our financial advisers are employees of Paris Capital and receive a salary from Paris Capital. Our advisers are eligible to receive a bonus each quarter if they achieve a certain level of overall performance. Bonuses are determined based on many factors such as good conduct, compliance and behavioural competencies, as well as meeting sales targets.

Simon Paris is a shareholder and director of Paris Capital and is remunerated as shareholder and director, primarily by bonuses and shareholder salary.

Paris Capital and our advisers ensure that we prioritise your interests by following an advice process that considers your circumstances and goals. We research suitable products and providers to ensure the advice meets your needs.

Our advisers also undergo annual training on how to manage any conflicts of interest and record any conflicts in a register that we review and manage.

Paris Capital is subject to a yearly audit and compliance reviews to ensure we meet our obligations while doing right by our clients.

Fees and Expenses

In general, Paris Capital will not charge you a fee if you decide to take a loan with a lender that pays Paris Capital commission.

However a fee may be charged in the following situations:

• In the event the lender does not pay Paris Capital commission, Paris Capital may charge you a fee for the advice we provide, and this will be disclosed by Paris Capital to you prior to the fee being incurred by you. If you decide to take up our advice and the lender agrees to pay us a commission, we will not charge a fee.
• If you cancel or refinance your mortgage within the first two years after it settles, Paris Capital may charge you a fee for the financial advice we provided.
  • This fee will be calculated on an hourly basis of $400 per hour, based on the time spent developing and providing the financial advice, or we will charge you based on the costs that the lender charges us for cancelling or refinancing the mortgage. Please see our clawback policy and the clawback fees the Lenders charge Paris Capital at the bottom of this page.
• If you decide not to act on our advice, then Paris Capital may charge you a fee for the services performed.
  • The fee will be based on the time it has taken to prepare our advice and will be charged at the hourly rate of $400 + GST per hour.
  • The average charge for this service is $2,800.00 which is calculated at 7 hours x $400per hour.

If a fee is payable, we will send you an invoice advising the details of the fee and how it has been calculated. The fee will be payable 10 working days from the date of the invoice, and details of how to make payment will be included on the invoice.

Complaints handling and dispute resolution

If you are not satisfied with our service, you can make a complaint by emailing us at simon@pariscapital.co.nz or by calling us at (022) 314-0010.

You can also write to us at:

Paris Capital Limited
Level 1, 104 Carlton Gore Rd, Newmarket, Auckland.

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 the internal complaints scheme, you can contact our external disputes resolution scheme – Financial Services Complaints Limited (FSCL). This service will cost you nothing and will help us resolve any disagreements.

You can contact the FSCL at:
Address: PO Box 5967 Wellington 6140
Phone: 0800 347 257
Email: info@fscl.org.nz

Duties information:

Paris Capital 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.