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LoanOptions gets new local BDM

Wednesday 29th of May 2024

Manish Chandra is the new senior business development manager at NZ LoanOptions.ai.

LoanOptions is an Australian based business which offers an AI solution to help mortgage advisers connect customers with appropriate lenders. It has five staff in New Zealand.

Chandra says his role is to service the adviser channel by expanding and optimising the company's reach within the New Zealand mortgage sector.

"Originally, I'm from India where, interestingly, I graduated as a Mechanical Engineer. However, during the engineering course I realised my true calling was the financial services industry as this empowered me to help people in need of financial assistance. So, I started my career as assistant manager in a bank there. Soon, it became clear to me that in order to tread smoothly and be more efficient, I needed a deeper understanding of the finance industry," he tells TMMOnline.

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Latest Comments
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@first time caller - I can see the complexity you highlight, but as above, investors should be able to see what they are paying without having to reference multiple documents. Investment admin can track and report deductions for tax, withdrawals, fees et al, would be /should be straightforward to aggregate advice fees into costs at member level... at least I hope so.
10 hours ago Goldcard
FMA wants clearer fees
@goldcard - how would you propose that a fund manager calculates the TER to include adviser fees given not all clients pay them and different advisers charge different fees, not to mention some advisors charge different fees to different clients? The advice fee gets disclosed in the adviser's disclosure statement and the statement of advice, so the client can add that to the published TER of the fund they are invested in to see how much they are paying overall.
1 day ago First time caller
FMA wants clearer fees
Schedule 4 of the FMCA regs 2014, particularly clauses 2(1) and 53(3) provide the basis for excluding individually charged advice fees from the statutory TER. This was introduced with the best of intentions, but now it is little more than an invisibility cloak for deductions from member accounts.
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5 days ago Market Commentator
Financial advice complaints down, but still some concerns, FSCL says
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5 days ago Steve Wright