Terms of Engagement

CONTENTS

TERMS OF ENGAGEMENT

Who we are

What we do

How we work

Experience and Qualifications

Memberships

Product Providers

How we get paid

Your Obligations

Privacy Act

Scope of Service and Engagement

Terms of Trade

Acknowledgments

TERMS OF ENGAGEMENT

Who we are:

Adviser

Robert Morgan

Company

Morgan Financial Solutions Ltd

Contact Details

1313 Caroline Rd Hastings, Ph 06 8787694, Cell: 021 657369

Email mfsltd@xtra.co.nz

What we do

I am a Financial Adviser who specialises in providing advice and transactional solutions for clients in the areas of Lending services.

How we work

I work in the following manner;

· We will agree on areas of advice requirements & establish our terms of our engagement.

· I will get to know you and gather all necessary facts of your situation and identify your specific needs and objectives.

· I will then analyse and research your circumstances & develop solutions to meet your needs and objectives.

· I will facilitate the application process for agreed products and services.

· I will prepare & present a statement of advice outlining my recommendations & implement any such agreed recommendations.

· I will monitor the implementation & review these solutions.

· I also provide an ongoing service of assisting you in managing the re fixing of your lending facilities as required.

Experience and Qualifications

I founded the Morgan Financial Solutions Ltd in 2002 and have operated as a Lending Adviser since. Prior to this business I had over 14 years experience with Westpac Banking Corporation.

I am a qualified Financial Advisor.

Memberships

I am a member of the New Zealand Financial Services Group and am bound by their code of ethics.

Product Providers

I am an Accredited Adviser with the following companies and recommend the products & solutions I think best fit your circumstances and requirements:

Mortgage Providers

ANZ, ASB, Avanti Finance, BNZ, Liberty Financial, Unity, The Cooperative Bank, Sovereign Home Loans, SBS Bank, TSB Bank, Heartland Bank, General Finance, Future Finance, Lend Me, Midlands Mortgage Trust, MBG Ltd, Core Finance Ltd, First Mortgage Trust, Cressida Capital. ASAP Finance, Pepper Money, Prospa, Finbase

How we get paid

On settlement of a mortgage or issuance of a risk insurance policy, I receive commission from the above product providers I deal with. The commission is generally of an upfront nature but may also include a small renewal or trail commission. I also do receive a fixed rate roll over fee from some providers if I assist in re fixing your loan.

A full schedule of all providers and their commission rates is available on request.

In the rare event that you may require me to act on your behalf in a transaction whereby I do not receive a commission from the above panel of providers or you request me to act on your behalf with a provider we do not hold an accreditation with I may charge a one off fee for this work to be completed. Any such fee would be agreed in advance and authorised by you in writing.

Your Obligations

Any advice or product implementation provided as a result of this needs analysis can only be as good as the information received from you so I ask that you provide me with the information I request. Without relevant and correct information about your personal and financial situation I run the risk of giving advice that is not appropriate for your needs. If you are unsure as to why I need certain information please ask so that I can explain.

Privacy Act

1. It is understood that any information gathered for this needs analysis is personal and I undertake to keep this information confidential and secure.

2. The Privacy Act 2020 gives you the right to request access to and correction of, your personal information.

3. Information provided by you and or any authorised agent will be used by me and any members of my staff for the purpose of providing advice to you and may also be used by any:

a) product or service provider when implementing any of my/our recommendations or variations thereof;

b) compliance advisers, assessors or by any claims investigators who may need access to such information; and

c) other professionals such as solicitors, accountants, finance brokers, financial planners when such services are required to complement this advice and as requested by you.

4. The information will be held by me / us at:

1313 Caroline Rd, Hastings

Scope of Service and Engagement

The following are the areas or advice or product that you are requesting from me, subject to any specific objectives or limitations of our engagement.

House or Business funding

(Mortgage)

Personal Lending

(Personal Loans)

Insurance Referral

(to a Colleague specialising in Insurances)

Specific limitations of this analysis and/or advice documentation

Other specific objectives, tasks or terms of this engagement

Terms of Trade

I/We acknowledge that if I/we withdraw from finance obtained on my/our behalf and then use another financial services provider, then I/we may be required to pay the broker an hourly rate of $ 250.00 + GST, plus costs to cover the time and expense spent by the broker in good faith obtaining the approval. This includes conditional approvals based on the information provided by me/us.

I/We acknowledge that a brokerage fee may be charged by the broker to me/us in certain circumstances. A letter of broker appointment will be completed in this instance detailing this fee as required.

I/We acknowledge that I am aware the broker receives commission from various lenders for residentially backed facilities and that the lender pays the broker costs on my behalf on the basis that they have the funding on their books for up to 36 months. I am aware that in the event that the broker receive a claw back of any commission paid relative to facilities drawn down (due to my/our early repayment or refinance of facilities), then I/we will personally be indebted to reimburse the broker for the lesser amount of the claw back or the hourly rate mentioned above, for the number of hours originally spent on the lending proposal. I/We will pay the broker within 7 days of provision of their invoice for such amount.

I/We acknowledge that any costs involved with collection of any fees owed by me/us to the broker will be payable by me/us.

I/We acknowledge that the broker may lodge a caveat against my/our property to secure any unpaid debt owed by me/us to the broker.

Acknowledgements

I may be required to evidence that I have explained specific requirements or obligations and provided certain information to you. Can you please acknowledge by signing below that these requirements have taken place?

Disclosure Statement

I / We acknowledge that I / we have received a Disclosure Statement from the adviser named in this document. This document was current and dated:

19/06/2024 Version4

Provision of Information

I / We acknowledge the advantages of undertaking a full suitability (needs) analysis and the need to provide relevant personal and financial information and by not doing so I / we risk receiving advice or product recommendations that may not be appropriate to my / our needs.

Scope of Service

I / We understand the services being provided are restricted to the scope of service or subject to specific limitations indicated on the previous page.

Privacy Act

I / We acknowledge I / We have read and understood the information relating to the Privacy Act 2020 and how this information may be used.

Adviser Remuneration

I / We acknowledge I / We have had the basis of adviser remuneration explained and I / we agree to the option indicated on the previous page.

Terms of Trade

I / We acknowledge I / We have had the Terms of Trade explained and I / we agree to them as detailed on the previous page.

Client name: ___________________________ Signature

Date: ________/________/__________