You must provide the credit guide as soon as practicable after it becomes apparent that you are likely to provide credit assistance to a consumer in relation to a credit contract.
Important: For Connective's credit representatives, credit guides are valid for 90 days to align with the legislated effective life of your preliminary assessment.
Clients approaching you for assistance more than 90 days after you last issued your credit guide should be provided with the current version of the document.
A credit guide provides preliminary information about you to a consumer. Information contained in the Credit Guide includes:
Licensee's name and contact details
Licensee's credit licence number
Credit representative’s authorised credit representative number and contact details
Details of the top 6 Lenders that the Licensee has introduced consumers to
Details of the top 6 Lenders that a Credit Representative has introduced consumers to
Any commissions that the individual (employee, director, or credit representative) is likely to receive
Your Internal Dispute Resolution (IDR) process and External Dispute Resolution (EDR) scheme details
In Nexus, you are required to retain a copy of the credit guide (within the attachments tab) provided to the client and a file note of when and how it was provided to the client.
From your Opportunity record you will generate your Credit Guide using the Disclosure Documents menu.
When generating a Credit guide in Nexus, you will be asked if you will be undertaking a credit check on behalf of your client. If so, the system will automatically generate the credit guide with the privacy consent form attached for your customer to sign. DigiSign is also available for signing.
Tip: An alternative way for your client to consent to a credit check is via the Needs Analysis Questionnaire in the Client Portal. If they select 'Yes', no signature is required on the credit guide.
If a credit check is not required or you are obtaining consent via the Client Portal, the system will generate the Credit guide with the privacy disclosure statement.
Note: Your Credit Guide merge templates can be found in the Admin App - Documents - Merge Templates section under Loans - Compliance.
Please review your credit guide to ensure all the information has populated correctly. If not, please reach out to your Partnership Manager for assistance.
Need help? If you need help with credit guides or disclosure documents, contact compliance@connective.com.au