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Our Disclosure To You

Sai Finance Limited Licence status and conditions

Sai Finance Limited is a Financial Advice Provider, Licensed issued by the FMA to provide financial advice services. Financial Services Provider Number is: FSP1002498.

Financial Advisers: Pawan Garg (FSP1002940)

Please follow this link to search the FSP register: https://fsp-register.companiesoffice.govt.nz/

NZBN: 9429041170144

My contact details are:
Address: 65a White Swan Road, Mount Roskill, Auckland, New Zealand 1041
Telephone: +64 212050024
Email: pawan@saifinance.co.nz

I encourage you to read the important information given below. It may help you decide whether your financial needs may be met by engaging with me.

Nature and scope of financial advice service

I provide financial advice on Mortgage products, Business and Commercial Loans and Car Loans. I provide financial advice service about Mortgage products only from the following providers (also known as lenders):

ASB Bank, ANZ Bank, BNZ Bank, Westpac, Avanti Finance, ASAP Finance, Co-operative bank, Basecorp Finance, Latitude Financial services Limited, Challenger NZ, DBR, First Mortgage Trust, General Finance, NZ Credit Union Baywide, Cressida Capital, Funding Partners, Liberty Finance, Lock Finance, Plus Finance, Prospa, SBS Bank, Zip Finance, Pepper Money, and Simplify.

  • I do not provide advice with respect to the following products:
  • Investment products (e.g., shares, bonds, managed funds, etc.) and Kiwi Saver products; and
  • Estate planning (such as Wills, Enduring Powers of Attorney, and trusts of any description); and
  • General Insurance products; and Personal Risk Insurance products, These inquiries are referred to a suitably qualified third party.
  • You will need to consult appropriate specialists if you would like advice on any of above mentioned four products.

Fees, expenses, or other amounts payable

With most transactions there is no cost to you, the client, because Sai Finance Ltd will receive a commission/fee with one of these modes:

  • Commission: Some banks/lenders pay an Upfront range from 0.2% TO 0.9% depending on the bank.
  • Service fee: Some banks/lenders pay from 0.1% to 0.4% per annum until the loan is paid in full.
  • Referral fee: Anywhere from 5% to 30% of net commission. 
  • Refixing fee: Some banks/lenders pay $150–$200 for loan refixing.

There are, however, a minority of the product providers that may charge a brokerage fee to you, the client, and may pass some or all this fee to Sai Finance Ltd. Our financial adviser may also negotiate and charge you, the client, for a nominal fee for our services depending on the circumstances. Any fee required to be paid will also be disclosed to you in advance and in the Final Disclosure provided to you by the financial adviser.

Conflicts of interest and commissions or other incentives

Sai Finance will receive a commission from the lenders who provide residential loan products. If you decide to take out a residential
loan, then the lender will pay a commission based on the amount of loan settled with that lender or lenders. The adviser get remunerated by taking drawings from the company. From time to time, various product providers (described previously) may also reward us for the overall business provided to them. They may give tickets to sports events, hampers, or other incentives. To ensure that our financial adviser priorities the client’s interests above their own, i follow an advice process that ensures our recommendations are made based on the client’s personal goals and circumstances. I as an financial adviser undergo annual professional development refresher training about how to manage conflicts of interest. I maintain registers of conflicts of interest and the gifts and incentives received.

Sai Finance’s Duties  to you

Sai Finance has duties under the Financial Markets Conduct Act 2013 relating to the way that we give advice.

I am 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 I have the expertise needed to provide you with advice); and
  • 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 I treat you as we ought to and give you suitable advice).

This is only a summary of the duties that I have. More information is available by contacting me, or by visiting the Financial Markets Authority website (https://www.fma.govt.nz).

Internal complaints process

If you have a problem, concern, or complaint about any part of my advice or service, you can reach me via clicking here, emailing: pawan@saifinance.co.nz, or calling: 0212050024. I will reply to you within 5 working days. I will review the complaint and discuss with you how i can resolve this. I aim to resolve our complaints in a timely manner and will indicate to you the time this complaint for take to resolve. I will communicate with you in the method you prefer – phone, email, or writing. If i cannot resolve this complaint in a manner that is acceptable then you can contact our free independent dispute resolution service.

External complaints process

If i 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. This service will cost you nothing and will help us resolve any disagreements.

You must bring your complaint to FSCL within 3 months of receiving our decision letter. If you do not raise the complaint with FSCL within this time frame, FSCL will not be able to investigate your complaint.

Membership Number – 8855

You can contact FSCL:
In writing – PO Box 5967, Wellington 6145
By email – complaints @fscl.org.nz
By telephone – 0800 347 257

You also have the right to address your complaint to the Financial Markets Authority (FMA). Details of the FMA complaints process are available on the FMA website.

Financial Markets Authority (FMA)
Website: https://www.fma.govt.nz
Address: Level 2, 1 Grey Street, PO Box 1179, Wellington 6140
Phone: 04 472 9830