Kripa Financial Solutions Limited FSP Number: 771115

Our Licence

Kripa Financial Solutions Limited (FSP 771115) holds a licence issued by the Financial Markets Authority (FMA) to provide financial advice services in New Zealand.

Contact Us

 

Address	7 Culdaff Place, Mt Roskill, Auckland
Telephone	021 933592
Email	simi@kripa.co.nz / office@kripa.co.nz

 

We encourage you to read the information below carefully. It will help you understand our services and decide whether we are the right fit for your financial needs.

Nature and Scope of Our Financial Advice Services

What We Advise on

We provide financial advice in two core areas:

• Debt management including borrowing for personal and investment purposes

• Personal insurance tailored cover to protect you and your family

Products We Advise on

Loans and Lending Solutions

• Residential mortgages

• Personal loans

• Investment property lending

• Other lending solutions

Personal and Group Insurance

• Life cover

• Disability cover

• Income protection

• Trauma cover

• Health cover

Product Providers We May Recommend

We work with a wide panel of lenders and insurers to find the right solution for you.

Mortgages and Lending Solutions

Banks: ANZ · BNZ · Westpac · ASB · Kiwibank · TSB · SBS · Co-operative Bank · Bank of China · China Construction Bank · Heartland Bank

Non-Bank and Specialist Lenders: AIA Go Home Loans · ASAP Finance · Avanti Finance · Basecorp · Bizcap · Bluestone Home Loans · CFML · Cressida Capital · DBR Property Financiers · FIFO Capital Business Finance · Finbase · First Mortgage Trust · Funding Partners · Go Lend · ICBC · Lendr · Liberty · Line Capital · NBS · Pallas Capital · Pepper Money · Plus Finance · Prospa · Resimac · Scotpac Business Finance · Southern Cross Partners · Unity · Vincent Capital · Welcome · Xceda

Insurance: AIA · Fidelity Life · Partners Life · Chubb Life · nib

Our Fees

General Principle

In the majority of cases, we do not charge you any fee for the financial advice we provide or for implementing that advice. Our remuneration is paid directly by product providers in the form of commission.

Fee Details of Mortgage and Lending 

Our aim is to make arranging your loan as simple, transparent, and stress-free as possible.

In most situations, there is no fee to you when your loan proceeds with a lender who pays us a commission.

However, a fee may apply in the following circumstances:

When a lender does not pay commission: If a lender does not pay commission for your loan, we may charge a one-off fee for the work completed on your behalf. This will always be discussed and agreed with you in advance.

Early Repayment or Refinance: If your mortgage is repaid in part or in full within 36–48 months of drawdown, the lender may recover (claw back) some or all of the commission originally paid to us. In such cases, the clawback amount is transferred to the client.

If you refinance with another adviser, broker, or directly with a bank during this period, Kripa Financial Solutions may charge a one-off fee based on an hourly rate of $250 (incl. GST), calculated on an average of 10 hours of advice and administration.

Second-Tier Lenders: Where your loan is approved through a second-tier lender, a fee of 1%–2% of your loan amount may be added to your loan and paid by you.

Pre-Approval or Approval Not Proceeding: If we secure a pre-approval or formal approval for you and you choose not to proceed, or you take the approval to another adviser, broker, or bank while still engaged with us, a fee may apply.

This fee is based on an average of 10 hours of advice, negotiation, and administration at $250 per hour (incl. GST).

Fee Details of Insurance 

In almost all situations, we do not charge any one-off fees for insurance advice.

A fee may apply in the following rare circumstances:

Policy cancellation or significant change within the first two years: If you cancel or significantly alter your insurance policy within two years of it being issued, the insurer may require us to repay some or all of the commission originally paid to us (known as a clawback). If this occurs, we may charge a fee for the work completed in advising on and implementing your cover.

This fee is based on up to 10 hours of work at $250 per hour plus GST, payable within seven days of invoice by direct credit to our company account. We will always confirm the exact amount with you in advance.

Advice not proceeded with: A similar fee may apply if we present our recommendations and you choose not to proceed with any products or services through us, for reasons we consider unreasonable. This fee is calculated at the same hourly rate and reflects the time, expertise, and administration involved in preparing your advice.

To date, we have not needed to charge either of these fees.

Payment Terms

• Invoices are due within 7 days of being issued

• Full payment instructions will be provided clearly on your invoice

• Payment plans are available on request if you require additional flexibility

Commissions

For mortgage, insurance, and investment products, we may receive commission from product providers as follows:

Initial Commission

We receive commission from lenders and providers for mortgages, risk insurance, and other loan products.

• Mortgages — Commission ranges from 0.55% to 0.9% of the loan amount. We are happy to share a detailed commission schedule on request.

• Insurance — Commission is a percentage of your annual insurance premium.

Our advisers are remunerated either by salary or by drawings from Kripa Financial Solutions Limited.

Ongoing Commission

Lending: We may receive an ongoing commission of 0% to 0.20% of the outstanding loan amount, calculated at the end of each month. Where we assist you in refixing your interest rate, some lenders may pay a fee of $150.00.

Insurance: Ongoing commission structures for insurance products are as follows:

 

Product	Upfront Commission	Trail Commission
Life, Trauma, Permanent Disability, Income Protection	160% – 240%	5% – 17.5%
Health Insurance	130% – 150%	0% – 15%

Upfront and trail commission structures can be adjusted as a lower upfront commission may result in a higher trail commission.

KiwiSaver Referrals

We may refer you to Generate KiwiSaver and Generate Managed Funds. If you choose to invest with Generate following our referral, we will receive an ongoing commission of 0.125% of your account balance. This fee is paid to us by Generate from the revenue they receive from the fees you pay. We are disclosing this in the interest of full transparency.

Conflicts of Interest and Other Incentives

We are committed to acting in your best interests at all times. Whilst we maintain professional relationships with product providers, your interests always come first.

From time to time, product providers may assist with funding for adviser conferences and professional development training.

How We Manage Conflicts of Interest

We take a structured approach to ensuring our advisers always prioritise your interests:

• We follow a consistent advice process ensuring all recommendations are based on your goals and individual circumstances

• All advisers complete annual training on identifying and managing conflicts of interest

• We maintain registers of conflicts of interest and any gifts or incentives received, which are reviewed regularly

• We conduct an annual independent Compliance Assurance Review

Our Duties and Obligations to You

We are bound by the duties set out in the Financial Markets Conduct Act (sections 431I, 431K, 431L, and 431M). These require us to:

• Meet the standards of competence, knowledge, and skill set out in the Code of Professional Conduct

• Give priority to your interests as a client

• Exercise care, diligence, and skill in all advice provided

• Meet the standards of ethical behaviour, conduct, and client care set out in the Code of Professional Conduct

Our Advisers

 

Adviser	FSP Number
Simi Sethu	FSP 771114
Krishnapriya Yadav	FSP 770719
Anu Muraleedharan	FSP 1010133

 

Mentee Advisers	FSP Number
Nimisha Thomas	FSP 1009341
Jose Rozario Aldrin	FSP 1011453

 

Complaints

Internal Complaints Process

If you have a concern or complaint about any aspect of our advice or service, we encourage you to contact us directly so we can work to resolve it promptly.

Internal Complaints Manager: Sethu Arjunan 📧 sethu@kripa.co.nz 📞 021 0240 5212

We will acknowledge your complaint within 24 hours. Our process is as follows:

• We will investigate your complaint by reviewing all information you have provided

• We may contact you for additional details where necessary

• We aim to resolve all complaints within 40 days of receipt

• Our proposed resolution will be communicated to you in writing

External Complaints Process

If we are unable to resolve your complaint to your satisfaction, or if you prefer not to use our internal process, you may refer your complaint to our external disputes resolution scheme at no cost to you.

Financial Services Complaints Ltd (FSCL)

 

Email	complaints@fscl.org.nz
Website	www.fscl.org.nz
Freephone	0800 347 257
International	+64 4 472 3725
Address	Level 4, 101 Lambton Quay, Wellington 6011
Postal Address	PO Box 5967, Wellington 6140

 

Kripa Financial Solutions Limited · 7 Culdaff Place, Mt Roskill, Auckland · FSP 771115

Licensed by the Financial Markets Authority to provide financial advice services.