Can my mortgage adviser charge me if I switch my loan to another bank?
Ajay disputed whether a mortgage adviser could “claw back” commission when he changed banks
Topic: Financial advisers and brokers
Was adequate advice provided about investing in a growth fund?
Jordan said a fund manager did not adequately outline the risks of investing in a growth fund, and he lost $2,800 within a week.
Consumer did not get the best loan deal – is the mortgage adviser at fault?
Thomas said that his mortgage adviser should have got him the same deals that other lenders had been offering.
Good record keeping matters – avoiding ‘he said, she said’ disputes
A lack of records turned this complaint into a ‘he said, she said’ dispute, leading to the adviser having to partially compensate the client.
A reminder for advisers: keep accurate records and be mindful not to overpromise
Priscilla and her partner Caleb complained that the adviser misled them for three months to believe that they would be eligible for finance, only to find out that they did not meet the bank’s criteria.
Customer discovers house not insured
House and contents insurance not renewed due to a misunderstanding.
Agreed value or market value?
Insurance broker takes no accountability.
Adviser does not tell investor there will be delays in building her investment property
Financial adviser fails to tell customer of delays in building the townhouse she planned to buy as an investment.
Run-off cover too expensive
Andrew said his insurance adviser should have done more to negotiate better professional indemnity and run-off insurance cover.
The interest rate dilemma: fixing for a long time, a short time or somewhere in between?
Keiko complained that her mortgage adviser had not explained all options to her before she fixed her interest rate in 2021.
