License Status and Conditions

Turning Point Finance is licensed (FSP 727451) by the Financial Markets Authority (FMA) to provide financial advice services.

Our business operates as a Financial Advice Provider (FAP) through its Director, Darshan Bir Singh (FSP 698152), who is also a qualified Financial Adviser.

We also share general financial information with customers through our digital channels.

My Profile

Darshan Bir Singh (FSP 698152), trading as Turning Point Finance, is one of New Zealand’s leading mortgage and insurance advisers with over 25 years of experience in financial services.

Throughout my career, I’ve worked as a Business Account Manager in both B2B and B2C environments. I spent 11 years as a Premium Account Manager with ASB Bank and later owned a Papatoetoe NZHL Limited franchise for 6 years. In October 2019, I launched my own venture—Turning Point Finance.

Since then, we’ve helped hundreds of client’s secure home loans from a wide panel of lenders, giving them more choices and better financial outcomes. I pride myself on thinking outside the box and delivering tailored solutions that truly make a difference.

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, as well as Personal Risk Insurance and General Insurance products.

Please take a moment to read the important information below—it can help you decide whether our services are the right fit for your financial needs.

Nature of our Financial Advice

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

• Residential and Personal Loan Products

We receive commission from the insurance companies that provide general insurance products. If you choose to take out a general insurance policy, the insurance company will pay us a commission based on the premium you pay.

Our advisers receive their remuneration through drawings from Turning Point Finance Limited.

Through our advisers, we provide financial advice on residential and personal loan products exclusively 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 Xceda Finance Cressida Capital DBR Limited First Mortgages Trust Funding Partners Heartland Bank The Cooperative Bank Southern Cross Financial Limited Unity Pepper money Plus, Finance Prospa Kiwibank Westpac New Zealand Limited

• Personal Risk Insurance Products

We receive commission from the insurance companies that provide personal risk insurance products. If you choose to take out a personal risk insurance policy, the insurance company will pay us a commission based on the premium you pay. Our advisers receive their remuneration through drawings from Turning Point Finance Limited.

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 “1” and “2” above.

From time to time, some product providers (as previously described) may also reward us or Turning Point Finance Limited for the overall business we provide to them. These rewards may include tickets to sporting events, gift hampers, or other incentives.

To ensure our financial advisers always prioritize your interests above their own, we follow a strict advice process that bases recommendations on your personal goals and circumstances. All our advisers complete annual professional development and refresher training on managing conflicts of interest. We also maintain a register of any conflicts of interest, gifts, and incentives received.

• General Insurance Products

These Insurance products, cover your personal assets, such as your home, contents, motor vehicle, and boat.

Through our advisers, we provide financial advice on general insurance products from the following providers (commonly known as fire and general insurers):

• Tower Insurance

Fees and Charges

In most cases, we do not charge any fees, expenses, or other amounts for the financial advice we provide or for implementing that advice. Our remuneration is paid by the product providers in the form of commission.

However, we may charge a fee if a client repays a residential home loan within a defined period of up to 27 months from the date it was drawn or cancels a personal risk insurance policy within 24 months of the policy start date.

If a fee applies, we will inform you when providing the financial advice service. This will include whether a fee will be charged, how it will be calculated, and the date by which it must be paid.

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.

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 handle all complaints through our internal complaints process.

Once we receive your complaint, we will:

• Investigate by reviewing the information you have provided.
• Contact you if we need additional details.

Our goal is to resolve your complaint within 30 days of receiving it and provide you with a written response outlining our proposed resolution.

If we are unable to resolve your complaint within 30 days (or within any additional time you agree to at our request), you can refer your complaint to Financial Services Complaints Limited (FSCL).

FSCL offers an independent external dispute resolution service for consumers with complaints about their financial service providers. This service is free of charge and can assist in investigating or resolving your complaint if it has not been resolved to your satisfaction through our internal 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.