Disclosure Statement | Reverse Equity Mortgages

This page sets out who I am, how I am licensed, how I am paid and what to do if something goes wrong. It is the information the Financial Markets Conduct Act requires me to give you, written so it can be read in a few minutes.

01Who I Am

Oliver Broomfield, financial adviser. Trading as Oliver Broomfield Mortgage & Insurances and, for reverse mortgage advice, Reverse Mortgage Specialist. 1/2 Rangitira Avenue, Takapuna, Auckland. Phone 0272 751 555. Email oliver@obmi.co.nz.

02Licensing

I give financial advice on behalf of Future Matters Limited (FSP762214), a financial advice provider operating under the licence held by NZFSG (FSP286965), issued by the Financial Markets Authority. Both entries can be checked on the Financial Service Providers Register at fsp-register.companiesoffice.govt.nz.

03The Advice I Give

Through this website I advise on reverse mortgages (also called reverse equity mortgages) offered by Heartland Bank Limited and SBS Bank (Southland Building Society). I do not advise on reverse mortgage products from any other provider, because at the time of writing none exist in New Zealand.

Through Oliver Broomfield Mortgage & Insurances I also advise on residential home loans, business and commercial lending, and personal and home insurance. Those services are described at oliverbroomfield.co.nz.

I do not give legal, tax, accounting, investment or estate planning advice. A reverse mortgage requires independent legal advice from your own solicitor before you sign.

04How I Am Paid

You do not pay me a fee for reverse mortgage advice. When a reverse mortgage I have arranged settles, Heartland pays me a referral fee of $2,000 on settlement, with no clawback. The fee does not change with the size of the loan. I do not receive trail commission on reverse mortgages.

For other lending arranged through Oliver Broomfield Mortgage & Insurances, lenders pay commission on settlement and may pay trail commission. If a home loan is discharged within approximately 27 months the lender may claw back that commission, and in that case I may charge a fee of $250 plus GST per hour, capped at $2,500. This does not apply to reverse mortgages.

05Conflicts Of Interest

Because I am paid only when a loan settles, I have a financial interest in you proceeding. I manage that by recording the alternatives we discussed and the reasons for any recommendation, by putting the lender comparison in writing before you decide, and by not recommending a reverse mortgage where I believe another option serves you better. I record the reasons for recommending one lender over the other, and the referral fee is never one of them.

I am a member of Financial Advice NZ and bound by its Code of Professional Conduct.

06My Duties To You

I am bound by the duties in the Financial Markets Conduct Act 2013 to give priority to your interests, to exercise care, diligence and skill, to meet the standards of competence, knowledge and skill in the Code of Professional Conduct for Financial Advice Services, and to meet the standards of ethical behaviour, conduct and client care in that Code.

07Complaints

If you have a complaint, contact me first: 0272 751 555 or oliver@obmi.co.nz. I will acknowledge it and work with you to resolve it.

If we cannot resolve it between us, you can contact Financial Services Complaints Limited (FSCL), an independent dispute resolution scheme approved by the Minister of Consumer Affairs. Phone 0800 347 257, email complaints@fscl.org.nz, or write to PO Box 5967, Wellington 6140 [verify these contact details at fscl.org.nz before publishing]. FSCL does not charge you to use its service.

Disclosure last updated October 2026.