License Status and Conditions

Turning Point Finance holds a license (FSP 727451), issued by the Financial Markets Authority (FMA), to provide financial advice services.
Turning Point Finance (FAP) conducts its business through its Director, Darshan Bir Singh (FSP 698152), who is also a Financial Adviser.
General information is also provided to customers through our digital publications.

Our contact details are:

Turning Point Finance Limited
Address: 5/8 Laidlaw Way, East Tamaki, Auckland
Telephone: (09) 930 7620 ; Mobile : 0226259575
Email: info@tpfinance.co.nz

My Profile

Darshan Bir Singh (FSP 698152), T/A Turning Point Finance, is one of the leading Mortgage and Insurance advisers in NZ with over 20 years of experience in Financial Services. Through my working career I have gained experience as a business account manager (B2B) and business-to-consumer (B2C) account management. I had been a premium account manager with ASB Bank for 11 years, in New Zealand and held a Papatoetoe NZHL Limited franchise for 6 years and started my own venture in October 2019 as Turning Point Finance.
We have helped hundreds of our clients to secure home lending from a panel of lenders, providing more choices leading to better financial outcomes. I pride myself for being an out of box thinker and aim to provide solutions.

Past Experience:

1994 – 1999 Asset Manager, Credit Cards, Citibank, New Delhi
2001 – 2010 Premium Manager, ASB Bank, Auckland
2011 – 2013 Director, Curry On Wheels, Auckland
2013 – 2019 Director/Owner, NZHL Papatoetoe Ltd, Auckland
2019 – Current Director/Financial Adviser, Turning Point Finance Ltd, Auckland

We provide financial advice on Residential and Personal Loan products, Personal Risk Insurance Products and General Insurance Products.
We encourage you to read the important information given below. It may help you decide whether your financial needs may be met by engaging with us.

Nature and Scope of Financial advice service

We engage financial advisers to provide financial advice on the following financial products:

General Insurance Products

These are policies that insure your personal assets (e.g. home, home contents, motor vehicle, and boat).
We, through our advisers, provide financial advice service about general insurance products only from the following providers (also known as fire and general insurers):

Tower Insurance
AON Insurance / Style Cover

Residential and Personal Loan Products

We, through our advisers, provide financial advice service about residential and personal loan products only from the following providers (also known as lenders):

 

ANZ Bank New Zealand Limited AIA Services New Zealand Limited ASAP Finance Ltd ASB Bank Limited Avanti Finance Ltd SBS Bank Bank Of China Basecorp Finance Ltd Bank of New Zealand Bluestone Mortgages Cressida Capital DBR Limited First Mortgages Trust Funding Partners Heartland Bank The Cooperative Bank Southern Cross Financial Limited Unity Pepper money Plus, Finance Prospa Resimac Westpac New Zealand Limited

 

Personal Risk Insurance Products

 We, through our advisers, provide financial advice service about personal risk insurance products (e.g., life insurance, income protection insurance, mortgage protection insurance, total and permanent disability insurance, trauma, or critical health insurance and medical or health insurance) only from the following providers.

Cigna

AIA Services New Zealand Ltd.

Fidelity Life Assurance Company Limited.

NIB NZ Limited.

Partners Life Limited.

We do not provide financial advice related to:

1. Investment products (e.g., Shares, Bonds, Managed funds, etc.)
2. Estate planning (e.g., Wills, Enduring Powers of Attorney, and Trusts of any description)

You will need to consult appropriate specialists if you would like advice on “A” and “B” above.

Fees, expenses, or other amounts payable

In majority of the cases, we do not charge any fee, expenses or other amount for the financial advice provided to you or for implementing that advice. Our renumeration is paid by the product providers by way of commission.
However, we may charge a fee for the financial advice service provided to a client where a client repays residential home loan within a defined period of time up to 28 months from the date it is drawn/cancel the personal risk insurance product policy within 24 months from the date the policy is put in place. Whether a fee will be charged, the manner in which it will be charged and the date by which the fee will be payable will be advised when the financial advice service is provided to the client.

Conflicts of Interest and Commissions or other Incentives General Insurance Products

We will receive Commission from the insurance companies who provide general insurance products. If you decide to take on a general insurance policy, then the insurance company will pay commission based on the premium that you pay. Our adviser takes drawings from Turning Point Finance Limited.

Residential and Personal Loan Products

We will receive Commission from the lenders who provide residential and personal loan products. If you decide to take out a residential or personal loan, then the lender will Pay Commission based on the amount of loan settled with that lender or lenders. Our adviser takes drawings from Turning Point Finance Limited.

Personal Risk Insurance Products

We will receive Commission from the insurance companies who provide personal risk insurance products. If you decide to take out a personal risk insurance policy, then the insurance company will pay Commission based on the premium that you pay. Our adviser takes drawings from Turning Point Finance Limited.
From time to time, various product providers (described previously) may also reward us and/ Turning Point Finance Limited for the overall business provided to them. They may give tickets to sports events, hampers, or other incentives. To ensure that our financial advisers prioritise the client’s interests above their own, we follow an advice process that ensures our recommendations are made based on the client’s personal goals and circumstances. All our financial advisers undergo annual professional development refresher training about how to manage conflicts of interests. We maintain a register of conflicts of interests and the gifts and incentives received.

Complaints Handling and Dispute Resolution

We take all complaints seriously and work to resolve them as quickly as possible. If you are unhappy with our financial advice service, and wish to make a complaint, please contact your financial advisor so he/she can try to put things right.

How your complaints will be handled

We will deal with your complaints using our internal complaints handling process. Accordingly,

• We will investigate your complaint by analysing the information you provided us, and
• We may contact you to get additional information about your complaint.

We aim to resolve your complaint within 30 days of its office receipt and advise you, in writing our proposed resolution to your complaint.
If we cannot resolve your complaint within 30 days of receipt (or any other additional time you have given us thereafter, at our request) you can contact the Financial Service Complaints Limited (FSCL).
FSCL provide an independent external dispute resolution service to consumers what complaints about their financial service providers. This service will cost you nothing and will help us to investigate or resolve your complaint if it is not resolved to your satisfaction using our internal complaints process.

You can contact that FSCL Scheme at:

Email: complaints@fscl.org.nz
Website: www.fscl.org.nz
Telephone: 0800 347 257 or 42737257
Address: Level 4, 101 Lambton Quay, Wellington 6011
PO Box 5967, Wellington 6140

Duties

We and our financial advisors are bound by the following duties under the Financial Markets Conduct Act 2013 to:

• Meet the standards of competence knowledge and skill set out in the Code of Professional Conduct for Financial Advice Service (Code of Conduct), which forms part of the wider regulatory regime for financial advice and ensure we have the expertise necessary to provide you good advice.
• Give priority to your interests by taking all reasonable steps to ensure that the advice given to you is not materially influenced by our own interests or the interests of any other person connected would the giving off advice; and
• Exercise care, diligence, and skill that a prudent person engaged in the occupation of giving related financial advice what in the same circumstances; and
• Meet the standards of ethical behaviour, conduct, and client care set out in the Code of Conduct to treat you as well as we should and to provide you with suitable advice.