Providers We Work With

These are the primary providers we work with in delivering our mortgage broker services,
insurance advisory services and KiwiSaver fund /investment advisory services.

Terms of Service and Detailed Fees

Our Services

WealthHealth Ltd (trading as WealthHealth) provides financial advice - and implementation of that advice - to our clients. Specifically, we offer advice on Home Loans/Mortgages, Life/Trauma/Health/Disability/Income Protection Insurances, and KiwiSaver. We also offer consultancy and planning services in the areas of retirement, investment and financial planning.

We can also offer General Insurance products (Home, Contents, Vehicle, boats) product sales through AMP / Vero on a quote and implementation basis without advice.

When providing advice to you, we limit our advice to the product providers we work with - take a look at our provider list at the bottom of this page. If there’s a particular product or provider you are interested in using, but that provider is not on this list, sorry - we do not provide advice on that product provider.

How we are Regulated

WealthHealth holds a Financial Advice Provider License (FAP) issued by the Financial Markets Authority.
The registration number is FSP 523606.
Craig Coupland’s registration number is FSP 105424.

How we are Paid

For Mortgages, Insurance and KiwiSaver, we are paid commission* from product providers where available.
This enables these services to usually be free* to you.

*If the commission received is less than our standard fee base model, a fee may be payable for the difference between commission received and fee.

Product Providers have what’s called a Commission Clawback period. This is when a product that we’ve provided advice on and implemented on your behalf is cancelled by you within a set time period (up to 28 months) and we have to repay the commission we received. Should this happen, we charge you a fee based on the time spent.

For some of our specialist financial services including comprehensive financial planning and investment advice, we charge our clients a fee.

How our fees are calculated:

$750+gst for the first 3 hours
$150+gst per hour thereafter

Conflicts of Interest and Incentives

We get our income from product sales if you choose to remunerate WealthHealth through this option.

Mortgage Providers pay us a commission based on the amount of the loan that is implemented.

Insurance providers pay us a commission based on the annual insurance premium. Some insurance providers we work with also pay an additional amount to WealthHealth to help with the increasing compliance costs of operating a Financial Advice Business. This amount is also based on the annual insurance premium you pay. They can also assist us through ongoing training to keep up to date with industry and company and product changes. During these training sessions we may be required to travel and as such travel, accommodation and meals may subsidised.

To ensure that our financial advisors always prioritise your interests above their own, we follow an advice process that ensures our recommendations are made on the basis of the client’s goals and circumstances. We also undergo annual training about how to manage conflicts of interest, and undertake an independent compliance audit and review of our compliance programme annually too, by a reputable compliance officer.

Our Duties

All WealthHealth advisors are required to comply with the Code of Conduct for Financial Advisors. This means that the advice we provide you must: meet legal duties to meet standards of competence, knowledge and skill; give priority to our client’s interests; exercise care, diligence and skill, and meet standards of ethical behaviour, conduct and care.

This means 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 behaviour, conduct and client care set by the Code of Professional Conduct for Financial Advice Services (these are designed to make sure we treat you was we should and give you suitable advice)

This is only a summary of the duties that we have. You can find more info by visiting the Financial Markets Authority website at www.fma.govt.nz

Complaints Handling + Dispute Resolution

If we ever have a disagreement, we have a formal complaints resolution process to follow.

If you are not satisfied with our financial advice service, you can make a complaint by emailing goodpeople@wealthhealth.co.nz. When we receive a complaint, 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 10 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. If we can’t resolve your complaint, we have nominated the Financial Dispute Resolution Service (FDRS) as our external dispute resolution scheme.

FDRS is approved by the Minister of Consumer Affairs to help consumers resolve complaints between financial service providers and their customers. FDRS is independent from the financial industry and its services are free to consumers. You can learn more about FDRS here: www.fdrs.org.nz

You can contact FDRS on 0800 337 337 (from overseas: +64 4 910 9952) or lodge a complaint via their email: enquiries@fdrs.org.nz
If you prefer to write to them, their address is: Freepost 231075, PO Box 2272, Wellington 6140.

Commission amounts and how they are calculated

Mortgages / Home Loans

Commission is calculated as a percentage of the mortgage amount arranged for you. Upfront commission is between 0.55% – 1.00%. Trail or servicing commission may be paid with some providers, this is between 0.10% – 0.25% p.a of the outstanding loan/mortgage amount. Typically, providers who pay us lower upfront commission will pay trail or servicing commission, and those lenders who pay more upfront commission usually don’t pay trail or servicing commission.

Life / Trauma / Disability & Health Insurance

Commission is calculated as a percentage of your annual premium. The commission amount is between 125% – 230% of your annual premiums. Trail or servicing commission of between 0.15 – 0.25% of annual premium per annum.

Fire and General Insurance

Commission is calculated as a percentage of your annual premiums. The commission amount is 15% of your annual premiums.

KiwiSaver

Commission is calculated as a set amount depending on a combination of your annual contributions, transferred balance or both. Upfront commission is between $40 –$240. Servicing commission is between 0.15% – 0.25% of your annual balance.

Fee Based Lenders

When your mortgage needs do not meet the criteria for main banks, we can then look at alternative specialist lenders for you. These mortgage lenders do not pay commission, and as such any work that is required on your application will be on the basis of fees payable - that being $750+gst for the first 3 hours of time spent plus $150+gst per hour thereafter.

Cancellation Fees

During our initial meeting(s) we will discuss your goals and whether we can help you. If you confirm you’d like to use WealthHealth, we will prepare a Scope of Service Document for you to sign. In agreeing to work together, we agree to act good faith towards each other.

We then commence the work required for your mortgage, insurance and/or KiwiSaver solution. We take on the risk that we can potentially help you, and if we're wrong and not able to help after all, we wear the cost in terms of our time spent.

If we have been able to take care of things for you but you decide to cancel our services, you will be charged a cancellation fee (covering time spent, based on our standard fee model). Whether a cancellation fee is payable is at the discretion of WealthHealth.

In the case of mortgages: we might work to get you a pre-approval, but you can't find quite the right house. That's ok, these things take time, and as long as we stay in communication - understanding that a deal will be done eventually - we are unlikely to charge a fee in this instance.

Commission Clawback Fees

Product Providers have what’s called a Commission Clawback period. This is when a product that we’ve provided advice on and implemented on your behalf is cancelled by you within a set time period (no more than 28 months) and we have to repay the commission we received. Should this happen, we charge you a fee based on the time spent.

Late payment

Late payment of our fees will result in admin charges of $50 per communication with you to chase this up, plus default interest charged at 10% p.a and backdated to the date of the initial agreement. Any additional costs incurred by WealthHealth in recovering monies owed to them, for example legal fees, additional dispute resolution fees and any additional time spent preparing for such an event, will be borne by the customer. These fees are minimum $500+gst for the first 3 hours work plus $150+gst per hour thereafter, in addition to the outstanding invoice and late payment fees.

Privacy Act 2020

You acknowledge that WealthHealth Ltd and its representatives are collecting your personal information for the purposes of providing financial services and/or financial advice to you. The information being collected will be shared with various financial institutions including banks, credit reporting agencies, finance companies, insurers, for the purposes of establishing either credit facilities, or personal insurance on your person and property, or both credit and insurance, KiwiSaver or Fire and General insurance in line with the services you have requested from WealthHealth Ltd.

Your information may also be shared with External Auditors for advice compliance, as well as the Financial Markets authority for ongoing Financial Advice Provider monitoring purposes.

Refer to our full Privacy Policy here

Client Acknowledgement

By engaging in the services offered by WealthHealth Ltd, either electronically, signing a Terms of Service Document, or engaging over email, you are also confirming that you are aware of the limitations of this advice document, have read and understood how WealthHealth Ltd is remunerated, which product providers we are associated with, what our disputes resolution process is and agree to that process in any dispute.You are also confirming your full understanding of the advice provided.

The information we discuss with you is available in writing - please contact us if you wish to have a written copy.