Can You Get Free Financial Advice in New Zealand?
The cost of financial advice can sometimes stop people from asking for help.
You might know your mortgage could be structured better, wonder whether your KiwiSaver is in the right fund, or suspect your insurance no longer suits your circumstances. But if you assume speaking with a financial adviser will involve a large upfront fee, it can be tempting to leave everything as it is.
What many New Zealanders do not realise is that some types of financial advice can be provided with no direct advice fee to the client.
At Levridge, we offer mortgage advice, KiwiSaver reviews, and personal insurance advice at no direct cost to you. This is because, if you choose to proceed through us, our fee is paid by the relevant lender, KiwiSaver provider, or insurer.
Here is how each service works and when it may be worth asking for help.
Is Financial Advice Really Free?
The word “free” can understandably make people cautious.
For Levridge’s mortgage, KiwiSaver, and insurance services, there is no direct advice fee for you to pay. Instead, we may receive payment from the lender, provider, or insurer if you decide to put the recommended solution in place through us.
Before you make any decisions, we will explain how we are paid and disclose any relevant conflicts of interest.
Free advice does not mean informal or unqualified advice. You are still working with qualified financial advisers who are required to provide advice that is suitable for your circumstances.
There is also no obligation to proceed simply because you have spoken with us. The purpose of the advice is to help you understand your options so that you can make an informed decision.
Free Mortgage Advice and Lending Support
A mortgage is likely to be one of the largest financial commitments you will ever make, but arranging one can be complicated.
Different lenders have different criteria, interest rates, lending policies, affordability calculations, and application requirements. The lender that suits one household may not be the right fit for another.
A mortgage adviser can help if you are:
Buying your first home
Moving to a new home
Building a property
Refinancing your mortgage
Purchasing an investment property
Restructuring existing lending
Unsure how much you may be able to borrow
Our mortgage advisers can help you understand your borrowing position, compare suitable lending options, prepare your application, communicate with lenders, and support you through to settlement.
When lending arranged through us is approved and settled, the lender pays our fee. This means there is generally no direct mortgage advice fee for you.
Why Use a Mortgage Adviser Instead of Going Directly to Your Bank?
Your bank can explain the products it offers, but it cannot recommend a loan from another lender.
A mortgage adviser can consider options from a range of participating banks and lenders. This can be particularly helpful when your situation does not fit neatly into one bank’s standard criteria.
An adviser also understands what lenders are looking for and can help ensure your application is presented clearly and accurately.
It is important to note that arranging a mortgage and creating a detailed strategy to repay it faster are not always the same service. More comprehensive advice around loan structure, offset accounts, reducing interest, and accelerating debt repayment may form part of a separate mortgage strategy service.
Free KiwiSaver Review
KiwiSaver is often established when someone starts a job and then left largely untouched.
Over time, however, your income, goals, timeframe, tolerance for investment risk, and retirement plans may change. KiwiSaver providers and funds also differ in how they invest, what they charge, and the support they offer.
A free KiwiSaver review can help you understand:
Which provider currently manages your KiwiSaver
Which fund type you are invested in
How your money is invested
The level of investment risk you are taking
Whether that risk suits your timeframe
Whether your fund aligns with your goals
Whether changing your fund or provider may be appropriate
This is not simply about finding the provider with the highest recent return.
Past performance can change, and the fund that is suitable for one person may be completely unsuitable for another. Your age, plans to buy a first home, expected retirement date, financial position, and comfort with market movements should all be considered.
If you choose to move to, or remain with, a KiwiSaver provider we advise on, that provider pays our fee. You do not pay us a separate fee for the KiwiSaver advice.
When Should You Review Your KiwiSaver?
It may be time for a KiwiSaver review if:
You do not know which fund you are in
You selected your fund many years ago
Your provider placed you in a default fund
You are preparing to buy your first home
You are getting closer to retirement
Your appetite for investment risk has changed
Your balance has grown significantly
You are unsure whether your KiwiSaver is performing as it should
KiwiSaver is a long-term investment for most people. Small differences in investment decisions can become increasingly significant over many years, so it is worth understanding where your money is invested and why.
Free Insurance Advice
Personal insurance is intended to provide financial protection when illness, injury, disability, or death affects your household.
The challenge is working out which types of cover you need, how much cover may be appropriate, and whether the cost fits your budget.
Having too little insurance can leave you and your family financially exposed. Having too much, or holding cover that does not suit your circumstances, can result in unnecessary premiums.
Our advisers can help with:
Life insurance
Trauma or critical illness cover
Income protection
Total and permanent disability cover
Health insurance
Mortgage protection
Reviewing existing personal insurance
Comparing suitable policies and insurers
Understanding exclusions, waiting periods, and policy terms
The right insurance will depend on factors such as your income, debts, dependants, savings, employment benefits, health, and existing cover.
If you decide to put insurance in place through us, the insurer pays our fee. There is no direct insurance advice fee for you to pay.
When Should You Review Your Insurance?
Insurance should not be something you arrange once and forget about permanently.
Consider reviewing your cover when:
You buy a home or take on additional debt
You get married or separate
You have a child
Your income changes
You become self-employed
You change jobs
Your partner stops or reduces work
You have paid down a significant amount of debt
Your existing policies have not been reviewed for several years
A review does not automatically mean buying more insurance. It may identify gaps in your protection, but it could also show that some cover is no longer required or could be structured more effectively.
Do You Need a Full Financial Plan?
Not necessarily.
A full Financial Plan can be valuable when you want to bring together your cashflow, mortgage, property, KiwiSaver, investments, insurance, and retirement goals into one coordinated strategy.
However, you do not always need to address every part of your financial life at once.
Your most useful next step might simply be:
Finding out how much you could borrow
Getting support with a home loan application
Checking whether your KiwiSaver fund suits you
Reviewing your family’s insurance protection
Comparing your existing mortgage or insurance options
Starting with one area can help you make progress without feeling that you need to solve everything immediately.
What Happens When You Contact Levridge?
The process is straightforward.
First, we have a conversation about what you are trying to achieve, what you already have in place, and where you feel uncertain.
We then look at the options relevant to your situation and explain what may be worth considering.
You can ask questions, understand how the service works, and decide whether you would like to proceed. There is no pressure or obligation to implement a recommendation.
When you do decide to move forward, we help manage the application, provider switch, policy setup, or lending process alongside you.
Get Help With Your Mortgage, KiwiSaver, or Insurance
Good financial advice does not always need to begin with a complete Financial Plan or a large upfront cost.
Sometimes, the best place to start is with the financial decision that matters most right now.
Whether you need help buying or refinancing a home, want to make sure your KiwiSaver is suitable, or need to review your personal insurance, Levridge can provide qualified advice with no direct advice fee to you.
Learn more about our free mortgage, KiwiSaver, and insurance services at: