Important Information

Important Info

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Important Info

At Tella we think it’s important to be honest and transparent with our customers. We want you to know exactly how we operate and comply with our industry regulations. Thanks for taking the time to understand the information in this section.

Public Disclosure Statement

IMPORTANT INFORMATION about Tella (New Zealand) Limited (“Tella”, “we”, “us”, “our”) and our services.

ABOUT OUR LICENCE

Tella (New Zealand) Limited (trading as “Tella”, FSP1001727) holds a licence issued by the Financial Markets Authority to provide financial advice services. Our address is Level 3/100 Mayoral Drive, Auckland 1010.

ABOUT OUR SERVICES

Our services consist of assisting you:

throughout your home loan journey, from understanding loan products and how lenders work to getting and managing your home loan.
to identify the right investment funds and investment management companies for your savings and KiwiSaver.

We provide that assistance by:

collecting specific information and assessing this to identify types of products and strategies that may be right for you and your particular situation. This is not a regulated financial advice service so it is not provided under our license.
providing options for specific products and product providers once Tella has completed the analysis and incorporated your preferences. This is regulated financial advice. You’ll have the opportunity to review the information before the application is made to the product provider.
presenting your application to product providers and then working with them on your behalf.
providing you with financial advice through one of our financial advisers if we think you may need some extra help. That advice will consider your circumstances and the adviser will help you to select the most appropriate product and product provider for you. This is regulated financial advice.

The types of financial advice products we provide advice on are:

home loans for your own home, and for property investment and development purposes.
Investment funds and KiwiSaver providers located in New Zealand.

We can provide you with access to a wide variety of lenders and investment companies who provide services in New Zealand.

FEES AND HOW WE GET PAID

Our services, including financial advice, are generally provided free of charge. However, in some situations, fees may apply. We will always be transparent about any potential fees before we formalise our working relationship with you.

We receive commissions from product providers when you draw down a loan (mortgage) or invest money with them. In some cases we may receive ongoing (trail) commissions. We may also receive a commission from some product providers if we assist you in restructuring the products you have with them.

Home Loans:

Provider	Up Front (%)	Trail (%)	Refix ($)
ANZ	0.85%	0.00%	$150
ASB	0.85%	0.00%	$150
BNZ	0.55%	0.15%	$ -
Kiwibank	0.55%	0.15%	$ -
Westpac	0.60%	0.20%	$ -
Heartland Bank	1.50%	0.00%	$ -
SBS Bank	0.80%	0.00%	$150
The Cooperative Bank	0.70%	0.00%	$150
Avanti	0.80%	0.00%	$ -
Basecorp	1.00%	0.00%	$ -
First Mortgage Trust	1.00%	0.00%	$ -
Liberty Financial	0.60%	0.15%	$ -
Pepper Money	0.60%	0.15%	$ -
Resimac	0.60%	0.15%	$ -
Sothern Cross Partners	1.00%	0.00%	$ -
Unity Money	1.00%	0.00%	$ -

KiwiSaver / Managed Funds:

Provider	Up Front	Trail (% of balance)
Generate	up to $300 (tiered based on balance)	0.25% p.a.
Kernel	$ -^A	$ -^B
Milford	$ -^A	$ -^C
Pathfinder	up to $150 (tiered based on balance)	up to 0.25% p.a.

^A Initial advice fee of up to $300 may apply.
^B Ongoing service fee of up to 0.25%p.a of balance may apply.
^C Ongoing service fee of up to 0.25%p.a of balance may apply, of which you may receive up to 0.20% from Milford as a rebate.

OUR DUTIES

We and our advisers are bound by duties at law when we provide services to you including to:

Give priority to your interests.
Exercise care, diligence, and skill.
Meet the standards of competence, knowledge, and skill set out in the Code of Professional Conduct for Financial Advice Services.
Meet the standards of ethical behaviour, conduct, and client care set out in the Code of Professional Conduct for Financial Advice Services.

Our advisers are:

Ben Goldsmith (FSP 607989)
Jose George (FSP 1007549)

COMPLAINTS PROCESS

If you have a complaint about our service, you can contact our internal complaints service by phone at 0800 4 TELLA (83552) or email us at help@tella.co.nz. We will work with you to resolve your complaint. We may want to meet with you to better understand your concerns. We aim to resolve your complaint within 10 working days of receiving it. However, if we need more time, we’ll let you know within the 10-working day period.

If we cannot resolve your complaint to your satisfaction, and if the complaint relates to regulated financial advice provided to you by us (or on our behalf), you can contact Financial Services Complaints Ltd (FSCL) within 3 months of receiving our decision letter in response to your complaint. This service is independent, will cost you nothing, and may help to investigate or resolve the complaint. You can get in touch with FSCL by emailing complaints@fscl.org.nz, calling 0800 347 257, or in writing to FSCL, PO Box 5967, Wellington 6140, New Zealand.

Website Terms & Conditions

The following terms and conditions (“Terms”) apply to your use of Tella (New Zealand) Ltd’s (“Tella”, “we”, “us”, “our”) website at www.tella.co.nz (Website). Our current Privacy Policy (available above) forms part of these Terms. These Terms (including the Privacy Policy) form the entire agreement between us and you relating to the Website and your use of it. The Terms are important so please read them carefully.

By accessing and using the Website:

you agree to these Terms; and
where your access and use is on behalf of another person (e.g. a company), you confirm that you are authorised to, and do in fact, agree to these Terms on that person’s behalf and that, by agreeing to these Terms on that person’s behalf, that person is bound by these Terms.

If you do not agree to these Terms, you are not authorised to access and use the Website, and you must immediately stop doing so.

These Terms were last updated on 8th March 2022. We may change these Terms at any time by updating them on the Website. Unless stated otherwise, any change takes effect immediately. You are responsible for ensuring you are familiar with the latest Terms.

1. WEBSITE ACCESS & CONTENT

1.1Tella is a licensed financial advice provider. You can view our disclosure information above on this page. The Website does not provide financial advice and is not an offer to advise you. Sending any communication to us will not impose any obligation on us or any of our financial advisers except where you agree to our separate service terms.

1.2We may change, suspend, discontinue, or restrict access to, the Website at any time (whether with respect to you or users generally) without notice or liability.

1.3The content and tools (including the results of the tools) on the Website are provided for general information only. The content and tools are provided free of charge and:

ado not constitute financial or other professional advice;

bare not guaranteed to be free of error or omissions;

c are not an endorsement or recommendation of any kind including regarding the value or suitability of any particular course of action or transaction;

dare not endorsed or underwritten by any third party. You should obtain professional or specialist advice before taking, or refraining from taking, any action in relation to such content or tools.

1.4Any links to third party websites are provided for convenience only. The inclusion of a link does not imply any endorsement or verification of the content by us. Responsibility for the content and privacy practices of any linked websites rests solely with the owners of those sites.

2. YOUR OBLIGATIONS

2.1You must provide true, current and complete information in your dealings with us (including when setting up an account), and must promptly update that information as required so that the information remains true, current and complete.

2.2You must:

akeep secure the User ID given to you by Tella;

bnot act in a way, or use or introduce anything (including any virus, worm, Trojan horse, time-bomb, keystroke logger, spyware or other similar feature) that in any way compromises, or may compromise, the Website or any Underlying System, or otherwise attempt to damage or interfere with the Website or any Underlying System;

cnot act in any way that is unlawful or fraudulent (whether or not intentional) or for the purpose of harming an individual or other person in any way; and

dunless with our agreement, access the Website via standard web browsers only and not by any other method. Other methods include scraping, deep-linking, harvesting, data mining, automation, or any similar data gathering, extraction or monitoring method.

2.3You must obtain our written permission to establish a link to our Website.

2.4You indemnify us against all Loss we suffer or incur as a direct or indirect result of your failure to comply with these Terms, except to the extent the Loss is caused by our fraud or dishonesty.

3. INTELLECTUAL PROPERTY RIGHTS

3.1We (and our licensors) own all proprietary and intellectual property rights in the Website (including all information, data, text, graphics, artwork, photographs, logos, icons, sound recordings, videos and look and feel), and the Underlying Systems.

3.2You must not use any part of the content or functions on the Website for, or in connection with, providing products or services to third parties for the purpose of any business, profession, trade or undertaking (whether or not carried on with the intention of making a profit) except with our prior written consent.

3.3You agree that we can hold and use all information and documents you provide to us (via or in connection with the Website) for the purposes of the Website and as otherwise disclosed in our privacy policy.

4. WEBSITE LIMITATIONS

4.1Any calculators on the Website use general assumptions only so may not hold true when an application is finalised. These tools, as well as the guides on the Website, are provided for information purposes only and are intended to be general in nature.

4.2Any link on the Website to other sites does not imply any endorsement, approval or recommendation of, or responsibility for, those sites or their contents, operations, products or operators.

4.3To the maximum extent permitted by law, we and our licensors have no liability or responsibility to you or any other person for any Loss you suffer or incur in connection with your use of the Website including in connection with:

athe Website being unavailable (in whole or in part) or performing slowly;

bany error in, or omission from, any information or results made available through the Website;

cany exposure to viruses or other forms of interference which may damage your computer system or expose you to fraud when you access or use the Website. To avoid doubt, you are responsible for ensuring the process by which you access and use the Website protects you from this; and

dany site linked from the Website.

4.4We make no representation or warranty that the Website is appropriate or available for use in all countries or that the content satisfies the laws of all countries. You are responsible for ensuring that your access to and use of the Website is not illegal or prohibited, and for your own compliance with applicable local laws.

5. LIABILITY EXCLUSION

5.1To the maximum extent permitted by law:

aaccess and use of the Website is at your own risk; and

bwe are not liable or responsible to you or any other person for any Loss under or in connection with these Terms, the Website, or your access and use of (or inability to access or use) the Website. This exclusion applies regardless of whether our liability or responsibility arises in contract, tort (including negligence), equity, breach of statutory duty, or otherwise.

5.2Except to the extent permitted by law, nothing in these Terms has the effect of contracting out of the New Zealand Consumer Guarantees Act 1993 or any other consumer protection law that cannot be excluded. To the extent our liability cannot be excluded but can be limited, our liability is limited to NZD100.

5.3To the maximum extent permitted by law, and only to the extent clauses 5.1 and 5.2 of these Terms do not apply, our total liability to you under or in connection with these Terms, or in connection with the Website, or your access and use of (or inability to access or use) the Website, must not exceed NZD100.

6. GENERAL

6.1Without prejudice to any other right or remedy available to us, if we consider that you have breached these Terms or we otherwise consider it appropriate, we may immediately, and without notice, suspend or terminate your access to the Website (or any part of it). On suspension or termination, you must immediately cease using the Website and must not attempt to gain further access.

6.2If we need to contact you, we may do so by email, another reasonable method or by posting a notice on the Website. You agree that this satisfies all legal requirements in relation to written communications.

6.3These Terms, and any dispute relating to these Terms or the Website, are governed by and must be interpreted in accordance with the laws of New Zealand. Each party submits to the non-exclusive jurisdiction of the Courts of New Zealand in relation to any dispute or other matter connected with these Terms or the Website.

6.4For us to waive a right under these Terms, the waiver must be in writing.

6.5Clauses which, by their nature, are intended to survive termination of these Terms, including clauses 2.4, 3, 4, 5 and 7, continue in force.

6.6If any part or provision of these Terms is or becomes illegal, unenforceable, or invalid, that part or provision is deemed to be modified to the extent required to remedy the illegality, unenforceability or invalidity. If a modification is not possible, the part or provision must be treated for all purposes as severed from these Terms. The remainder of these Terms will be binding on you.

6.7These Terms set out everything agreed by the parties relating to your use of the Website and supersede and cancel anything discussed, exchanged or agreed prior to you agreeing to these Terms. To the maximum extent by law, you confirm that you have not relied on any representation, warranty or agreement relating to the Website that is not expressly set out in the Terms, and that no such representation, warranty or agreement has any effect from the date you agreed to (or are deemed to have agreed to) these Terms.

7. DEFINITIONS

7.1In these Terms:

including and similar words do not imply any limit.

Loss includes loss of profits, savings, revenue or data, and any other claim, damage, loss, liability, and cost (including legal costs on a solicitor and own client basis).

Underlying System means any network, system, software, data or material that underlies or is connected to the Website.

User ID means a unique name and/or password allocated to you to allow you to access certain parts of the Website.

Privacy Policy

INTRODUCTION

This Privacy Policy explains how Tella (New Zealand) Limited (“Tella”, “we”, “us”, “our”) collects, uses, discloses and protects personal information. We comply with the Privacy Act 2020 (the Act) when dealing with personal information. Personal information is information about an identifiable individual (a natural person).

You are not required to provide the personal information that we request, but if you choose not to do so, in many cases we will not be able to provide our services.

We may update this policy from time to time. The updated policy will apply from the date that it is available on our website.

This Privacy Policy was last updated on 8th March 2022. We may change this privacy policy at any time by updating it on our website (www.tella.co.nz). Unless stated otherwise, any change takes effect immediately. You are responsible for ensuring you are familiar with the latest privacy policy.

HOW WE COLLECT PERSONAL INFORMATION

We collect personal information about you from you when you provide information to us through our website (including when using our online tools and when accessing our services), sign up for a Tella account, when you contact us (e.g. through our website or email), or when we provide services to you. We may also collect your Internet Protocol (IP) address, location and the web browser you use when you visit our website (we use some third-party tools to help us collect, analyse and store that information, including Google Analytics). We may also collect information from third parties including from your advisers, your current lender and credit reporting agencies.

HOW WE USE PERSONAL INFORMATION

We collect personal information for the following purposes:

to create your Tella account;
to provide our website tools, and our services, to you (and to assist in improving our services);
to respond to communications from you;
in connection with defending, protecting and/or enforcing our legal rights and interests including defending a complaint, claim or other action;
to conduct research and statistical analysis (on an anonymised basis);
to undertake credit checks on you (if necessary);
to analyse and understand how people use and experience our website;
to comply with our obligations at law and to support us to engage with relevant regulators;
for any other purpose authorised by you or the Act.

WHO WE DISCLOSE PERSONAL INFORMATION TO

We may disclose your personal information to:

any business that supports provision of our services (including related companies, information technology service providers, data centres, lawyers, accountants);
lenders in connection with assisting you to apply for and to administer loans (and related security), and to renew, vary, replace or exit/end loans (and related security);
third parties noted above in order to obtain relevant information;
regulatory bodies including the Financial Markets Authority (whether or not required by law);
lawyers and other professionals, and our insurers (and their advisers), in connection with defending, protecting and/or enforcing our legal rights & interests;
debt collection or credit reporting agencies;
any other person authorised by you, or by the Act or another law.

A business that supports provision of our services may be located outside New Zealand. This may mean that personal information is held and processed outside New Zealand.

HOW WE PROTECT PERSONAL INFORMATION

We will take steps that are reasonable in the circumstances to keep personal information safe from loss and from unauthorised access, use, modification or disclosure.

We are not responsible for the privacy or security practices of any third party, including the lenders we are permitted to disclose your personal information to, in accordance with this policy, the Privacy Act or any other relevant laws.

ACCESSING AND CORRECTING PERSONAL INFORMATION

Subject to certain grounds for refusal set out in the Act, you have the right to access personal information that we hold and about you and to request a correction to that personal information. We can be contacted in one of the following ways:

Phone Number: 0800 4 TELLA (83552)
Email Address: help@tella.co.nz

INTERNET USE AND THIRD-PARTY WEBSITES

While we take reasonable steps to maintain secure internet connections, if you provide us with personal information over the internet, the provision of that information is at your own risk.

If you follow a link on our website to another site, the owner of that site will have its own privacy policy relating to your personal information. We recommend that the site’s privacy policy is reviewed before any personal information is provided.

Service Agreement

ABOUT THIS DOCUMENT

This document explains the basis on which Tella (New Zealand) Ltd (“Tella”, “we”, “us”, “our”) provides our services to you. This is the agreement between us and you (being the individuals named as the borrower on your application on our website) (Agreement) and includes the matters below, our Public Disclosure Statement, our Privacy Policy, and our Website Terms & Conditions, all of which are located above in that order of priority. Those documents are to be read together and to be given a consistent meaning but, in the event of a conflict, the relevant matters below apply to the extent of the inconsistency.

WHAT TELLA DOES

Tella provides you with information and other support to help you access financial services and products that are right for you. We do that through our registered financial advisers, and through our online platform which presents information about financial services and products. Where one of our financial advisers assists you, we will provide you with more information on what the adviser will do for you on our behalf. In addition to those matters, we will work with you to complete financial product applications and submit these to appropriate product providers (including home loan providers, KiwiSaver and investment fund management providers).

In order to provide our services, we need you to do some things for us, which we set out below.

WHAT TELLA DOES NOT DO

Tella’s advice on transactions that involve businesses or commercial property is not regulated financial advice. Tella does not provide regulated financial advice on insurance.

YOUR CONFIRMATIONS

You agree and acknowledge that:

You are acting on your own behalf and not on behalf of anyone else.
All information you provide to us and product providers is up-to-date, correct and complete (and that is not misleading and that does not mis-represent your situation in any way).
We have no obligation to check or verify that any information you provide to us or product providers (for any purpose) is up-to-date, correct or complete (or misleading).
We have no responsibility or liability to you whatsoever (and howsoever arising) in connection with inaccurate, untrue or incomplete information being provided by you (including as part of an application), or on your behalf, to us, the product providers or any other person.
We give no warranty or assurance that you will be able to obtain financial products or achieve other objectives.
To the maximum extent permitted by law, we shall have no liability to you whatsoever, whether in contract, tort (including negligence), equity or otherwise, for any liabilities, costs or losses that you suffer or incur in connection with our services, except to the extent the liabilities, costs or losses arise from our fraud or dishonesty.
Nothing in this agreement is intended to have the effect of contracting out of your rights under the Consumer Guarantees Act 1993, except to the extent permitted by law.
If you are in trade, you contract out of the Consumer Guarantees Act 1993 and that it is fair and reasonable to do so.

COMPLAINTS PROCESS

GENERAL MATTERS

Our services are provided, and our duties are owed, only to you and do not extend to any other person (including family members and related companies).

When you are comprised of more than one person, your warranties, agreements, obligations and liabilities under this Agreement shall be joint & several.

The Agreement contains all of the terms, representations and warranties made between the parties relating to the matters dealt with in the Agreement and supersedes and cancels all prior discussions and agreements covering the subject matter of the Agreement.

You cannot assign or transfer any of your rights or obligations under the Agreement except with our prior written consent.

Important Info

Public Disclosure Statement

ABOUT OUR LICENCE

ABOUT OUR SERVICES

FEES AND HOW WE GET PAID

OUR DUTIES

COMPLAINTS PROCESS

Website Terms & Conditions

1. WEBSITE ACCESS & CONTENT

2. YOUR OBLIGATIONS

3. INTELLECTUAL PROPERTY RIGHTS

4. WEBSITE LIMITATIONS

5. LIABILITY EXCLUSION

6. GENERAL

7. DEFINITIONS

Privacy Policy

INTRODUCTION

HOW WE COLLECT PERSONAL INFORMATION

HOW WE USE PERSONAL INFORMATION

WHO WE DISCLOSE PERSONAL INFORMATION TO

HOW WE PROTECT PERSONAL INFORMATION

ACCESSING AND CORRECTING PERSONAL INFORMATION

INTERNET USE AND THIRD-PARTY WEBSITES

Service Agreement

ABOUT THIS DOCUMENT

WHAT TELLA DOES

WHAT TELLA DOES NOT DO

YOUR CONFIRMATIONS

COMPLAINTS PROCESS

GENERAL MATTERS

How to make a complaint

COMPLAINTS PROCESS