Topic: Financial Advice

Thinking she has vehicle insurance in place, Hinewai contacts her adviser to make a claim. She discovers she’s not insured.

Kauri paid a company nearly $1,800 to manage his debts by making repayments to his creditors on his behalf. After 6 weeks, Kauri noticed the company wasn’t paying his creditors.

Archie instructed his share registry to sell some shares at a minimum of $3 per share. The registry sold the shares at $3 per share, but Archie saw the price had gone up to $5.50 that day

Astrid borrowed $80,000 to purchase a luxury car from a dealer. Astrid thought under the loan agreement, she could return the car to the dealer instead of making the $60,000 balloon payment at the end of the loan term. Astrid couldn’t afford to make the balloon payment, but when she tried to return the car instead, she found she wasn’t able to.

In June 2020, Jason and Roimata decided to buy a second property. A year later, they refinanced their loan from their second-tier lender to a bank. Jason and Roimata were shocked when their adviser sent them an invoice for the commission the lender recovered from him. They also wondered why their adviser hadn’t told them to refinance with a bank a year prior.

Abel’s investment adviser stops reinvesting his dividends without instruction.

Joe asked his financial adviser to arrange redundancy cover for him. However, the financial adviser delayed doing so for a number of months, by which time Joe had lost his job. Can Joe claim his lost wages from the financial adviser?

Teresa’s mortgage adviser arranged her a fantastic refinancing deal, with very low mortgage rates. However, a few months later, Teresa was received an $88,000 GST invoice. The IRD told Teresa the refinance had triggered a significant GST liability. Was the mortgage adviser responsible for Teresa’s unexpected GST bill?

Helen approached an insurance adviser to obtain life insurance. Helen signed the adviser’s terms of engagement noting fees. Helen moved insurers after 10 months and was charged $1,495.00. Was the adviser entitled to charge the fee?

Barbie obtained business insurance through an insurance broker. Barbie and her broker had a personal fight that ended their business relationship. Barbie complained that the broker had been unprofessional and asked for a refund of the commission that the broker earned from Barbie’s business.