FAP Disclosure

12th September 2023


Financial Advice Providers (FAP) Disclosure

Sue Tierney Mortgages Limited and Sue Tierney Insurances Limited

Licensing Information

Sue Tierney Mortgages Limited, FSP713934 was granted a Class 2 Financial Advice Provider (FAP) licence by the Financial Markets Authority (FMA) to provide financial advice services. There are currently two (2) financial advisers engaged directly to provide financial advice on behalf of Sue Tierney Mortgages Limited (STML). There is one authorised body under the FAP Licence.


Sue Tierney Insurances Limited (STIL) will operate under the licence for STML. STIL is a sister company of STML with the same ownership structure.



Nature and Scope of the Advice

STML and STIL provide the financial adviser services described below:


  • Financial Advice
  • Home Loan Services (new home loans, interest rate fixing and loan maintenance etc)
  • Business and Commercial Lending
  • Non-mainstream Lending
  • Personal Risk Insurance (e.g. life insurance, income protection insurance, trauma insurance etc)
  • Business Insurance (e.g. key person insurance, business overheads etc)


Any financial advice provided on our behalf will take account only of the information you have given us about your particular needs, financial situation or goals.



We provide financial advice about products from a large range of providers. Common providers that advisers are accredited with or whose products they advise on include:

  • Life Insurance
  • Key providers are AIA and Partners Life.
  • Health Insurance
  • Key providers are AIA, Partners Life and Southern Cross.
  • Lenders
  • For mortgages and finance, a key range of New Zealand registered banks and alternative lenders includes ANZ, ASAP Finance, ASB including GoHomeloans, Avanti Finance, Basecorp, BNZ, Co-Operative Bank, Cressida Capital, DBR, First Mortgage Trust, Heartland Bank (reverse Mortgages), Pepper Money, Prospa, SBS Bank, TSB, Westpac.



Fees or Expenses

Analysing the suitability of the provision of products and/or services to you and providing a financial service to you in the form of a Statement of Advice and all associated documentation is given as a service. There is no cost to you for the entire term of the mutually agreed engagement. STML is paid by the lending institution or insurance company in the form of commission, fees, and/or ongoing trail commission.


In the event of early repayment of your home loan(s) or early cancellation of your insurance policy(ies) STML/STIL may invoice you for the cost of completing the application. If STML/STIL recommends any insurance policies for you, you will be informed of the costs of these policies. 


Occasionally there may be some instances when STML/STIL does not receive any commission, fees, or trail commission. STML/STIL may invoice you for the cost of completing the application and/or facilitating your requirements through to settlement/completion. This will be disclosed at the time of application.



Conflicts of Interest

As a provider of professional financial adviser services, STML/STIL and its advisers have an obligation to act in the interests of our clients when making a recommendation. In providing advice to you, should any, actual or potential conflict of interest arise then we undertake to bring any such conflict of interest to your notice so that you may assess our advice objectively.


For home loans, STML/STIL and the financial adviser receive commissions from the lender on whose loans we give advice. If you decide to take out a home loan, the lender will pay a commission to STML/STIL and your financial adviser. The amount of the commission is based on the amount of the loan.


All our financial advisers undergo annual training about how to manage conflicts of interest. We undertake a compliance audit, and a review of our compliance programme annually by a reputable compliance consultancy firm.



Internal Complaints Process

If you have a problem, concern, or complaint about any part of our service, please tell us so that we can try to fix the problem for you using our internal complaints process. You may contact us using any of the following means:

  • In writing
  • Complaints office
  • By telephone: contact Sue at 027 914 7555 or 021 776 222
  • By email: sue@stml.co.nz


When we receive a complaint, we will consider it following our internal complaints process:

  • We will consider your complaint and let you know how we intend to resolve it. We may need to contact you to get further information about your complaint.
  • We aim to resolve complaints within 10 working days of receiving them. If we can’t, we will contact you within that time to let you know we need more time to consider your complaint.
  • We will contact you by phone or email to let you know whether we can resolve your complaint and how we propose to do so.
  • If we can’t resolve your complaint, or you aren’t satisfied with the way we propose to do so, you can contact Financial Services Complaints Limited.



Dispute Resolution Process

If we cannot agree on how to fix the issue, or if you decide not to use the internal complaints scheme, you can contact Financial Services Complaints Limited. This service will cost you nothing, and will help us resolve any disagreements.


You can contact Financial Services Complaints Limited at:


Address:                              PO Box 5967, Lambton Quay, Wellington 6145

Telephone number:       0800 347 257 or 04 472 3725

Email address:                  complaints@fscl.org.nz or info@fscl.org.nz



Duties Information

STML/STIL and anyone who gives financial advice on our behalf, have duties under the Financial Markets Conduct Act 2013 relating to the way that we give advice.


When we give advice, we follow the internationally recognised six-step process:


  1. Establishing the client-adviser relationship
  2. Gathering client data and determining your goals and expectations
  3. Analysing and evaluating the client’s financial position, personal and business insurance, home loan situation and retirement planning
  4. Developing and presenting written advice in the form of a Statement of Advice
  5. Overseeing the implementation of the plan
  6. Monitoring and reviewing the plan annually


We also have other obligations under the Financial Markets Conduct Act 2013 (including regulations made under that Act) and under the general law. These require us to:

  • Give priority to your interests by taking all reasonable steps to make sure our advice isn’t materially influenced by our own interests
  • Exercise care, diligence, and skill in providing you with advice
  • Meet standards of competence, knowledge and skill set by the Code of Professional Conduct for Financial Advice Services (these are designed to make sure that we have the expertise needed to provide you with advice)
  • Meet standards of ethical behaviour, conduct and client care set by the Code of Professional Conduct for Financial Advice Services (these are designed to make sure we treat you as we should, and give you suitable advice).


This is only a summary of the duties that we have. More information is available by contacting us, or by visiting the Financial Markets Authority website at https://www.fma.govt.nz. 


The Code of Conduct standards can be read here: https://www.fma.govt.nz/assets/assets/code-of-professional-conduct-for-financial-advice-services.pdf. 



Financial Advice Provider Contact Details

Sue Tierney Mortgages Limited  FSP 713934

Sue Tierney Insurances Limited  FSP 726495



Suzanna Mihakis Tierney            FSP 47601

Email:                 sue@stml.co.nz

Phone:               027 914 7555

Mobile:              021 776 222

Address:           25D Ring Terrace, St Mary's Bay,  Auckland 1011



Louise Nicholls                                      FSP 694571

Email:                  louise@stml.co.nz

Address:            25D Ring Terrace, St Mary's Bay,  Auckland 1011