Joyce He Financial Adviser Disclosure

Identifying Information

I am a financial adviser and I am giving advice on behalf of Ginkgo Financial Services Ltd (FSP719251).

Qualifications:

New Zealand Certificate in Financial Services – Residential Property Lending (level 5)
New Zealand Certificate in Financial Services – Life and Health insurance (level 5)

Professional Association Membership:

Nature and Scope of the Advice

Areas I can provide personal advice:

Personal risk insurance needs arising from:

• Untimely Death – Life insurance

• Suffering specified serious illness or disabilities – Trauma insurance

• Suffering a permanent disability – Permanent disability insurance

• Loss of income through sickness or disability (income/mortgage protection insurance)

• Needing timely hospital or specialist treatment – health/medical insurance

Business risk insurance needs arising from:

• The loss of a key person through death or disability

• Retirement of business debt and other liabilities caused by death or disability

Mortgage needs arising from:

• Home Loans

• Business Loans

• Construction Loans

• Commercial Loans

• Re-fix, Top-up and Refinance

I source insurance products from the following companies:

• AIA

• Asteron Life

• Resolution Life

• CHUBB

• Fidelity Life

• Partners Life

• Accuro (Health Insurance only)

• nib

• Southern Cross (Health Insurance only)

I source loan products from the following banks and finance companies:

• ANZ, ASB, BNZ, Westpac, Bank of China, ICBC, SBS Bank, Co-opearative Bank

• Asap Finance, AVANTI Finance, Basecorp Finance, Cressida, DBR Property Finance, First Mortgage Trust, Heartland, Liberty, NZCU, Pepper Money, Plus Finance, Prospa, Southern Cross Partners.

My advice process:

I follow an intentionally recognised 6 step advice process which involves:

1. Establishing the areas of advice for the current engagement –Scope of Service and Engagement;

2. Gather client facts and information – needs analysis

3. Further analysis and research by me and designing a solution to match your needs-Adviser Processes Information

4. Preparing a written report for you- Statement of Advice

5. Presenting my recommendations to you and implementing any agreed solutions-finalise solution

6. Present Policy documents and explanation policy benefits

I reviewing these solutions and strategies on a regular basis.

My duties and obligations to you:

I have duties and obligations under the Financial Markets Conduct Act 2013 relating to the way I give advice. I am required to:

• Ensure you understand the nature and scope of service you ask me to provide;

• Provide a service and advice that is relevant to this scope of service and suitable to your circumstances and needs;

• Listen to your needs, concerns, preferences and to treat you fairly and with respect;

• Act with integrity and give priority to your interests and give advice not influenced by my own interests;

• Exercise care diligence and skill in providing you with advice;

• Meet the necessary standards of competence, knowledge, and skill to provide you with the advice requested;

• Ensure you understand my advice and recommendations and any associated risks;

• Keep you informed along the way and communicate in a timely, clear, and effective manner.

Reliability History

Neither Ginkgo Financial Services nor I have been subject to a reliability event. A reliability event is something that might materially influence you in deciding whether to seek advice from me or from Ginkgo Financial Services Ltd. As an example, it would include legal proceedings against me, or if I had been discharged from bankruptcy in the last four years.

There have been no professional indemnity insurance or negligence claims, disputes resolution actions, or disciplinary actions. Ever.

Fees and Expenses

Ginkgo Financial Services Ltd does not charge fees, however I may charge a fee for the financial advice provided to the client where a client cancels a life or health insurance policy, or refinance to other bank within two years of inception. This is a one off fee of $500.

• Terms of payment are payment within 7 days of invoice, with direct credit to the bank account of Ginkgo;

• Ginkgo will pay the fees to me;

• Cash or barter are not accepted as means of payment.

Conflict of Interest and Incentives

When implementing (or brokering) a group or personal insurance product our preference is to be paid via brokerage, or commission, as this results in no direct fee payable by the client, and Ginkgo Financial services Ltd only receives payment from an insurer if we are successful in placing business which the client is happy with.

The gross amount of commission payable to Ginkgo Financial Services on any particular recommendation will be disclosed specifically prior to implementation of any product or plan.

As a general indicator of the range of commissions which may be paid, Ginkgo Financial Services Ltd receives standard commission terms from all insurers (there no preferential terms over and above any other adviser in the market), which are:

• Ginkgo receives commissions from the relevant insurance company if you take out life insurance following my advice. The commissions are between 180% and 220% of the first year’s premiums of your policy, I would receive 60% of Ginkgo’s commission;

• Ginkgo receives commissions from the relevant insurance company if you take out health insurance following my advice. The commissions are 30%-140% of the first year’s premiums of your policy, I would receive 60% of Ginkgo’s commission;

• Ginkgo also receives a commission of between 5% -20% of the premium for each year if the insurance policy remains in force, I would receive 60% of Ginkgo’s’ commission;

• Ginkgo receives referral fee from PSC Insurance Brokers NZ Limited which would share of their 50% commission they get from the provider that is basic on the first year’s premiums of your General insurance policy, if you are in placing business with Pulsar Insurance Agency Ltd, I would receive 60% of Ginkgo’s referral fee;

• Ginkgo receives referral fee from Tower Insurance, which would share of their 10% commission they get from the provider that is basic on the first year’s premiums of your General insurance policy, if you are in placing business with Tower Insurance, I would receive 100% of Ginkgo’s referral fee;

• Ginkgo receives referral fee from Blanket Advice Limited, that will range from 3.75% to 6.25% of each premium, depending on which insurance products you take out cover with, after taxes and levies., if you are in placing business with Blanket Advice Limited, I would receive 100% of Ginkgo’s referral fee;

• Ginkgo receives commissions from the relevant banks, or broker fee from the finance companies if you take out mortgage following my advice. The commissions or broker fee are between 0.55%-1% of your loan amount, I would receive 60% of Ginkgo’s commission.

• Ginkgo receives a trail commission between 0.15% -0.20% of the loan amount for each year if the loan remains in force from BNZ, Westpac and some other financial companies which provide trail commission, I would receive 60% of Ginkgo’s trail commission.

• Ginkgo receives $150 NZD for a re-fix from ANZ , ASB and BOC, I would receive 60% of Ginkgo’s refix commission.

To ensure that I prioritise your interests above my own, I follow an advice process that ensures my recommendations are made on the basis of your individual goals and circumstances. I complete annual training about how to manage conflicts of interest. We undertake a compliance audit, and a review of our compliance programme is undertaken annually by a reputable compliance adviser.