Disclosure Statement

Last Updated Mar 2025

1. Disclosure & Conflicts of Interest

This Disclosure Statement provides important information about the financial advice services offered by Onboard. 

2. About Us

Onboard is a financial advisory service provider specialising in lending, accounting, and insurance solutions for businesses and individuals. We are registered with the Financial Markets Authority (FMA) and hold a full licence to provide regulated financial advice. 

  • Financial Advice Provider: ONBOARD LENDING LIMITED 

  • Trading as: Onboard Lending & Spring Loans 

  • FSPR Number: 761712 

  • Address: 11/56 Northside Drive, Westgate, Auckland 0814 

  • Phone: 022 032 7125 

3. Licensing Information

Onboard is a licensed financial advice provider, authorised by the Financial Markets Authority (FMA) under FSP 761712. 

4. Nature and Scope of Advice

We provide tailored financial advice to individuals and businesses, offering solutions in: 

  • Business Loans 

  • Home Loans 

  • Investment Loans 

  • Construction Loans 

  • Commercial and Asset Finance 

  • Insurance Advice 

We work with a panel of trusted lenders and insurance providers to deliver solutions aligned with your financial goals. 

5. Lenders We Work With

We source loans from a range of approved lenders, including but not limited to: 

Banks & Lenders: 
ANZ, BNZ, Westpac, ASB, ASAP Finance, Avanti Finance, CMFL (Funding Partners), Cressida Capital, DBR, First Mortgage Trust, Heartland Bank, NZCU Baywide, RESIMAC, SBS, Select Home Loans, Southern Cross Partners, The Co-operative Bank, ZIP Business, Kiwibank. 

Insurance Providers: 
AIA, Chubb, Asteron, Fidelity Life, Partners Life, NIB, Southern Cross. 

6. Fees & Expenses

In most cases, our financial advice is provided at no direct cost to you, as we receive commission payments from lenders and insurers upon the successful settlement of a loan or insurance policy. 

However, a fee may apply in certain circumstances, such as: 

  • If we do not receive a commission from the lender or provider. 

  • When additional advisory work is required beyond standard services. 

Any applicable fees will be disclosed upfront before proceeding. 

7. Conflicts of Interest & Commissions

Lending Commissions 

Onboard receives a commission from the lender upon the settlement of a loan. The commission structures vary depending on the loan type: 

  • Residential Loans: Up to 0.85% of the total lending amount. 

  • Business & Commercial Loans: Up to 0.55% of the total lending amount. 

  • Fixed Rate Rollovers: Up to $150 per refix. 

Insurance Commissions 

If you take out an insurance policy through us, we may receive: 

  • Up to 260% of the first year’s premium as an upfront commission. 

  • Between 5% and 30% of annual renewal premiums for ongoing servicing. 

We also disclose commissions upon approval and acceptance of any policy. 

Additionally, we may receive a referral fee if we introduce you to one of our business partners for complementary financial services. Any such arrangements will be disclosed to you. 

Managing Conflicts of Interest 

To ensure our advice is in your best interest, we: 

  • Recommend financial products based on suitability, not commission structures. 

  • Ensure loan amounts align with your financial needs and circumstances. 

  • Provide full transparency on commission structures, including a breakdown of commission rates by provider. 

 

8. Clawback Policy

If a loan or insurance policy is cancelled, refinanced, or repaid early within 27 months of settlement, Onboard may be required to repay all or part of the commission received to the lender or insurer. This is known as a clawback. 

If a clawback occurs, we may charge you a fee to cover the time and costs associated with the original advice. Our clawback fees are structured as follows: 

Home Loans & Personal Lending: 

  • If a mortgage is repaid within 27 months, we may issue an invoice for up to $3,600 (including GST), based on 12 hours of work at $300 per hour. 

Business Loans & Business Purchases: 

  • If a business or commercial loan is repaid within 27 months, we may issue an invoice for up to $15,000 (including GST), based on 30 hours of work at $500 per hour. 

Insurance Policies: 

  • If a business or personal insurance policy is cancelled or lapsed within 27 months, we may issue an invoice for up to $15,000 (including GST), based on 30 hours of work at $500 per hour. 

Clawback fees will not apply if: 

  • We were given the opportunity but were unable to arrange a subsequent finance approval. 

  • You paid an upfront fee when the mortgage was originally drawn (most common for short-term loans). 

  • The early repayment was caused by an exceptionally negative change in circumstances (assessed on a case-by-case basis). 

 

9. Privacy & Security

We handle personal information in accordance with our Privacy Policy, ensuring your data remains confidential and secure. Your information is only shared in compliance with legal and regulatory requirements. 

10. Complaints Process

If you have a complaint about our financial advice or service, you can contact us directly:

Our complaints process:

  1. We will acknowledge your complaint within 2 Business Days.

  2. We aim to resolve it within 2 weeks.

  3. If we cannot reach a resolution, we will update you on the next steps.

If you remain dissatisfied, you can escalate your complaint to an independent dispute resolution service at no cost:

Financial Services Complaints Ltd (FSCL)

  • Address: Level 4, 101 Lambton Quay, Wellington 6011

  • Phone: 0800 347 257

  • Email: [email protected]

  • Website: www.fscl.org.nz

  • Postal Address: PO Box 5967, Wellington 6140

11. Our Duties & Responsibilities

Onboard and its advisers comply with the Financial Markets Conduct Act 2013, which requires us to: 

  • Meet the competence, knowledge, and skill standards set out in the Code of Professional Conduct for Financial Advice Services. 

  • Prioritise our clients’ interests. 

  • Exercise care, diligence, and skill in all financial advice services. 

  • Maintain ethical conduct and high client care standards. 

For more information or a hard copy of this disclosure, please contact us at [email protected]