Our Disclosure Guide

Publicly Available Disclosure


Important information about our business 

IFLY Consulting Limited is a Licensed Financial Advice Provider issued by the FMA to provide financial advice services. Financial Services Provider Number is FSP574547.


Our office contact details:

Address: 123E Dominion Road, Mt Eden, Auckland
Phone: 021 157 0404
Email: [email protected]
Website: www.iconsult.nz


Nature and Scope of financial advice services

We provide advice to our clients about home loan products.

We provide advice about products from a range of providers, these are ANZ, Westpac, BNZ, ASB, Kiwibank ASAP Finance Limited, Avanti Finance, Cressida Capital, DBR, First Mortgage Trust, Heartland Bank, Liberty Financial Limited, NZCU, Pepper, RESIMAC, SBS Bank, Select Home Loan, Southern Cross, Sovereign, The Co-operative Bank, TSB, Basecorp Finance, Zip Business, CFML etc.

We currently do not provide advice from Bank of China, China Construction Bank, HSBC.

Referral Partners: Tower for Fire and General Insurances.



On settlement of a loan, we usually receive a commission from the applicable product provider.  The commission is generally of an upfront nature but may also include a renewal or trail commission.  We also receive a fixed rate rollover fee from some product providers if we assist in refinancing your loan.

The commissions may be paid by the product provider as follows:

Initial Commission

A percentage of the value of your investment contributions, loan balance, or insurance premiums; and

Ongoing Commission

A percentage of the value of your investment balance, outstanding loan amount or premiums, usually calculated at the end of each month in which you hold the investment or loan, or on renewal of insurance products (in case of referrals).

This commission is used to remunerate the financial adviser that provides the advice, and to pay the expenses associated with running our business including any rent, staff costs, professional indemnity insurances and IT resources.  From this commission, we also pay Kiwi Adviser Network Limited for services they provide to us which help us operate our business.

We take steps to ensure that the receipt of commissions does not influence the advice we give to you and that our advisers prioritise your interests by recommending the best product for your purpose regardless of the type and amount of commission we or they may receive. We do this by:

  • Ensuring our advisers follow an advice process that ensures they understand your needs and goals and that their recommendations on insurance cover meet those needs and goals.
  • Ensuring our advisers receive regular training on how to manage conflicts of interest.
  • Providing you with a schedule showing commission amounts and types by the product provider. This schedule is contained within each Financial Adviser’s personalised Disclosure Guide. A Financial Adviser will provide you with more information about commissions during the advice process.


Our fees 

Generally, we don’t charge you any fee for the advice and transactional solutions that we provide to you. This is possible because, on settlement of a mortgage, we usually receive a commission from the applicable product provider as described above.  There are two exceptions to this general position which are explained below.

We may charge you a one-off fee in the following situations:

(a) No commission: If you request that we provide services in relation to a product or service and we do not receive a commission. Any such fee would be agreed and authorised by you in writing before we complete the services. The following section outlines the types of fees that may apply:

  • The fees charged for our advice and services may be based on a combination of:
    • A set dollar amount; OR
    • a percentage-based fee.
  • Our agreed advice and service fees may include charges for:
    • Initial advice ongoing; OR
    • annual advice and services.

This may arise in the rare event that you request that we provide Services in relation to either a product that is offered by a provider that we do not hold accreditation with or a product that is outside our usual arrangements with our product providers.

(b) Repayment of commission: If a product or service provider requires that we repay commission within 29 months of settlement of your mortgage. Any such fee charged will not exceed the amount of commission clawed back from the lender.

The actual fee charged to you will depend on the nature and scope of the advice or service we provide. We will discuss and agree on the actual fees with you before we proceed and explain how they are payable.


Other costs 

Where other costs are incurred in the process of providing our advice and services to you, you will be liable for these costs.

However, we will agree on all additional costs with you prior to incurring them.


Conflicts of interest or other incentives

We are here for our clients and to advise you as best we can. Your interests are our priority although we do have business relationships with product providers also.

If there are any conflicts of interest apart from the commission that could potentially influence the advice that we give, these will be shown in your Financial Adviser’s Disclosure Guide.


How we manage any conflicts of interest 

To ensure our advisers prioritise our clients’ interests:

  • We follow an advice process that ensures our recommendations are made appropriately, based on clients’ goals and circumstances.
  • All our advisers undergo annual training about how to manage conflicts of interest.
  • We maintain registers of conflicts of interest and the gifts and incentives we receive. These registers are monitored regularly, and additional training is provided as required.
  • We undertake an annual independent Compliance Assurance Review.


Our duties and obligations to you

We are bound by the duties of the Financial Markets Conduct Act (431I, 431K, 431L and 431M) to:

  • Meet the standards of competence, knowledge, and skill set out in the Code of Conduct
  • Give priority to the clients’ interest, and
  • Exercise care, diligence and skill, and
  • Meet the standards of ethical behaviour, conduct, and client care set out in the Code of Conduct.


Our Internal complaints process 

If you have a problem, concern, or complaint about any part of our advice or service, please tell us so that we can try to fix the problem.

Our internal complaints manager is Satyan Mehra who can be reached at 021 157 0404 or via emailing us at [email protected] with the heading Complaint – (Your Name).

Please set out the nature of your complaint, and the resolution you are seeking.  We will acknowledge receipt of this within 48 hours. We will then record your complaint in our Complaints Register and notify our Licence Holder. We may want to meet with you to better understand your issues.

We will then investigate your complaint and provide a response to you within 7 working days of receiving your complaint. If we need more time to investigate your complaint, we’ll let you know.

If we cannot agree on a resolution you can refer your complaint to our external dispute resolution service.  This service is independent and will cost you nothing and will assist us to resolve things with you.


Our external complaints process 

If we 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 complaints.


You can contact Financial Services Complaints Limited at:

Phone number: 0800 347 257

Email address: [email protected]

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