GENERAL INFORMATION
Lalit Bajaj, T/A Greenline Financial Solutions Limited (GLFS) is one of New Zealand’s
highly qualified and experienced mortgage and personal risk insurance adviser. GLFS
commenced business on 1
st January 2008 and has been successfully operating for more than
12 years. We have successfully arranged more than $200 million of home loans/commercial
loans and risk insurance for more than 250 clients since 2008.
What is my experience of financial services?
I have worked in the Insurance and Investment Industry since 1999.
• 1999-2001 as Corporate Finance Manager, New Delhi
• 2001-04 as Insurance Administrator with AIG, New Zealand
• 2004-06 as Financial Planner, Lexon Financial Planning, Auckland
• 2006-08 as National Agency Manager, AIG New Zealand
• 2008 –current as Adviser/Director, Greenline Financial Solutions
What are my Qualifications?
I have a bachelor’s degree in Economics from Delhi University and an MBA with
specialisation in Finance and Investments from Griffith University (Australia). In year 2008, I
also finished the Graduate Diploma in Financial Planning from Massey University, Auckland.
I keep my product knowledge up to date by attending all seminars, meetings, and all
possible courses relating specifically to the products I sell.
Am I a member of any professional Industry body?
I am a member of the Financial Advice New Zealand (FANZ). As a condition of my
Membership I adhere to the FANZ Code of Ethics and standards in all facets of my practice.
LICENCE STATUS
GLFS holds a licence (FSP1000027), issued by the Financial Markets Authority (FMA), to
provide financial advice services.
GLFS conducts it’s business through its Director, Lalit Bajaj (FSP102104), who is also a
licensed Financial Advice Provider (FAP).
General information is also provided to customers through our newsletters, blogs and other
digital publications.
Our Financial Advice Services
DUTIES OF INFORMATION
We have duties under the Financial Markets Conduct Act 2013 and the Code of Professional
Conduct for Financial Advisers (Code) relating to the way that we give advice.
We are required to:
• Give priority to your interests by taking all reasonable steps to make sure our advice
is not materially influenced by our own interests.
• Exercise care, diligence, and skill in providing you with advice.
• Meet applicable standards of competence, knowledge, and skill under the Code.
• Meet standards of ethical behaviour, conduct and client care under the Code. These
include duties to treat you fairly, act with integrity, give financial advice that is
suitable, and take reasonable steps to ensure you understand the financial advice we
provide and protect any financial information we hold about you.
NATURE AND SCOPE OF ADVICE
We help our clients with their lending and mortgage needs, and their personal risk insurance
covers. The types of financial products we can help you with include the following:
• Home loans, including loans for first home buyers.
• Investment property loans
• Refinancing
• Business and Commercial loans
• Construction and home improvement loans
• Debt Consolidation
• Life Insurance
• Critical Illness and Trauma Insurance
• Total and Permanent Disability insurance
• Mortgage Repayment Cover
• Redundancy Cover
• Medical / Health Insurance
• Income Protection Insurance
• Business Protection Cover
• Key Person Insurance Cover
• Home/content/vehicle insurance
To help get the best deals for our clients and ensure our team is truly expert in the product
options they advise on, we only work with a select number of product providers:
For Mortgages, we work with Banks and Non-Bank Lenders such as ANZ,
ASB, BNZ, Sovereign Home Loans, Heartland Bank, Resimac, Bluestone,
Avanti Finance, Pepper Money, ASAP Finance, First Mortgage Trust, Prospa,
DBR, Cressida Capital, MBG. The list of lenders may change from time to
time.
• For Personal Risk insurance, we work with Personal Risk Insurance Providers
such as AIA NZ, Cigna, Partners Life, Fidelity Life. The list of Personal Risk
Insurance Providers may change from time to time.
• For Health Insurance, we work with Health Cover Providers such as NIB, AIA
NZ, Partners Life. The list of Health Risk Insurance Providers may change
from time to time.
• For Home/content/vehicle insurance we work exclusively with Blanket
Insurance to provide house, car & contents Insurance via their digital
application process. The insurance offered by Blanket is provided by The
Hollard Insurance Company Pty Ltd. (Hollard). Administration of this
insurance and claims handling services are managed by Ando Insurance Group
Limited (Ando) on behalf of Hollard. Hollard is a licensed insurer in New
Zealand under section 19 of the Insurance (Prudential Supervision) Act 2010.
They are the only general insurance product provider that GLFS works with.
• For Kiwi saver product, we exclusively work with Generate Kiwisaver. We are
paid an upfront commission between $40 to $200 (depending on your kiwisaver
balance) and additional trail commission of 0.20% of funds under management
(FUM)
• In advising clients on personal insurances where they already have some cover in
place, we will prefer existing insurance provider for further addition/increase of
covers. However, if we feel we can get better terms from another provider, this
will be completely disclosed so that there is no loss to you, our valued clients.
• We do not provide advice on existing whole of life or endowment policies, or on
any form of savings or investment product (except Kiwisaver) outside of
financing properties, so you will need to consult someone else if you would like
advice on any of those products.
• We also do not provide advice on Investment, Legal, Accounting
or Taxation matters
FEES, EXPENSES, OR OTHER AMOUNTS PAYABLE
We do not typically charge our clients any fees, expenses or other amounts for the financial
advice and other services we provide. Instead, our services are paid for through the
commissions and other payments we receive from the lenders we assist you to obtain
financing from, and from the insurers whose policies we help you take out.
The following circumstances are the main exceptions to our no fees policy:
1. You decide not to take the loan arranged by us after it has been approved, or
2. You refinance or pay off a loan within 27 months of taking it out, or
3. You cancel a personal risk insurance policy within two years of cover
commencing.
Detailed information about the nature and level of fees will be provided to you when
you receive financial advice from us. This information is also available upon request,
free of cost.
CONFLICTS OF INTEREST AND COMMISSIONS:
We are committed to ensuring we provide financial advice that is impartial and delivers good
outcomes for our clients.
To ensure that our financial advisers and nominated representatives prioritise our clients’
interests above their own, we follow an advice process that ensures our recommendations and
other advice are appropriate for each client’s goals and circumstances. All our financial
advisers and nominated representatives undergo ongoing training about how to manage
conflicts of interest.
GLFS reviews its compliance programme each year to ensure we are aligned with best
industry practice.
GLFS receives upfront as well as on going commissions from the providers whose products
we advise on i.e. the lenders we help you obtain finance from, and the insurers whose policies
you take out with our assistance.
Sometimes banks and insurers we work with may also reward or recognise us for the overall
business we provide them. For example, they may give us tickets to sports events or invite us
to social functions or send us gifts.
They may also invite us to conferences or provide us with training, to help improve the
quality of the services we provide.
All our financial advisers and nominated representatives are trained to work in the best
interest of our customers. Therefore, our services generally do not come at a cost to you
except in some circumstances as described above.
COMPLAINTS
If you are not satisfied with our services, you can make a complaint by emailing us
at info@greenline.co.nz
or by calling us at 09 94855010.
When we receive a complaint, we will consider it and follow our internal complaints
resolution process:
• If we can resolve your concerns to your satisfaction on the spot, we will do so. If not,
we will contact you to acknowledge receipt of your complaint – usually within two
working days of receiving your complaint, unless that is not practicable in the
circumstances – and let you know how we intend to resolve it. Note that we may need
to contact you to get further information about your complaint before we are able to
resolve it properly.
• We aim to resolve complaints within 10 working days of receiving them. If we
cannot, we will contact you within that time to let you know we need more
time to consider your complaint.
o You will be contacted by phone or email to let you know whether we can
resolve your complaint and how we propose to do so.
If we cannot resolve your complaint using our internal complaints resolution process, or if
you are not satisfied with the way we have attempted to resolve your complaint, you can
contact an external Government approved dispute resolution scheme provider. In our case it
is Insurance and Savings Ombudsman (ISO).
ISO provides a free, independent dispute resolution service that may help investigate or
resolve your complaint if we have not been able to resolve your complaint to your
satisfaction.
You can contact ISO by emailing
info@ifso.nz or use their online complaint form using this link
IFSO | Make a Complaint
Or call them on 0800 888 202
CONTACT DETAIL
Greenline Financial Solutions Ltd
Contact Person : Lalit Bajaj
Mobile: 021882396
Email: info@greenline.co.nz/
Address: 1A Cape Horn Road Mt Roskill
FSPR No: 1000027 (GLFS)
FSPR No: 102104 (Lalit Bajaj)
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