Disclosure Statement.

Last updated: September 2026

About us

Valar Financial Advisors Limited holds a Financial Advice Provider licence issued by the Financial Markets Authority (FMA) to provide financial advice services. Our Financial Service Provider number is FSP1012862.

Financial advice is provided by Lena (Lyubov) Bykova, Director and Financial Adviser (FSP1010055), under the licence of Valar Financial Advisors Limited. Lena holds the New Zealand Certificate in Financial Services (Level 5), with strands in Residential Property Lending and Investment.

The advice we provide

  • Residential lending: residential mortgages, refinancing, debt consolidation, construction lending and lending structures.
  • Property investment strategy: residential property investment funding, portfolio planning, cashflow analysis and wealth strategies.
  • Investment advice: KiwiSaver and managed fund advice, where appropriate to your goals and circumstances.
  • Commercial and business lending: commercial property lending, business lending and business finance solutions.
  • Financial planning: goal setting, budgeting and cashflow planning, and structuring your finances to support longer-term goals.
  • Specialist lending: non-bank and specialist lending for clients outside standard bank criteria.

Products we can advise on: KiwiSaver investments, managed investments, and loans, including residential mortgages, commercial property loans and business loans.

Our advice covers the financial and lending strategy only. It does not include property valuations, building reports or real estate agency services. Any decision to buy a property remains yours.

Services we do not provide

We do not provide legal, tax or accounting advice, property valuations, building or engineering inspections, real estate agency services, general insurance or personal risk insurance. If you need any of these, we may refer you to a suitably qualified professional. We take no responsibility for their advice, and you are under no obligation to use them.

Product providers

We are not tied to any single lender or product provider. We recommend providers based on your situation, and the current list is set out in your Nature and Scope of Advice.

Our fees

We do not usually charge a fee where your lending is retained for at least 27 months and we have received a commission from the lender.

A fee may apply if we arrange finance through a non-bank lender or a lender that pays no commission, if the lending is intended to be repaid within 27 months, if you do not proceed after receiving a loan offer we arranged, or if you cancel or refinance your loan within 27 months of settlement. Any fee, and how it is calculated, is set out in your Nature and Scope of Advice, which you receive before we give advice. If you need financial advice or planning beyond your lending, we will discuss any fee with you first.

Commissions and referral fees

If you proceed with a lending product following our advice, we may receive commission from the lender:

  • Upfront commission: 0.55%–0.90% of the initial loan amount, paid at settlement.
  • Ongoing (trail) commission: 0.15%–0.20% per year of the outstanding balance, paid monthly.
  • Refix commission: we may also receive a commission when you refix your loan.
  • KiwiSaver: typically between $40 and $300, depending on the provider.

Commissions are shared between Valar Financial Advisors Limited and the adviser to cover compliance, training and back-office costs.

Where we refer you to a third-party property specialist, buyer's agent, developer or real estate firm, Valar may receive a referral fee or commission from that organisation, not from you. We will tell you before or at the time of the referral and confirm the basis of the fee. From time to time we may also receive minor gifts or hospitality from product providers. These are recorded in our conflicts register.

Conflicts of interest

Your interests are our priority, although we do have business relationships with product providers. Valar receives commissions from product providers for the financial products we place and service, and we recognise this may create a conflict of interest. To manage it:

  • We follow an advice process that bases every recommendation on your goals and circumstances.
  • Our adviser completes annual training on identifying and managing conflicts of interest.
  • We keep registers of conflicts of interest and of gifts and incentives, and review them regularly.
  • We undertake an annual independent Compliance Assurance Review.

Lena Bykova holds a 50% shareholding in Valar Intelligence Limited, a software development company. Where this is relevant to your advice, we will disclose it.

If we or you identify a conflict of interest, we will discuss it with you and record it in your Statement of Advice.

No guarantee of approval

Neither Valar Financial Advisors Limited nor our adviser can guarantee that a lender will approve an application. We use our knowledge, experience and lender relationships to find the best available solution for your circumstances.

Reliability history

A reliability event is anything that may materially influence your decision to seek advice from us, for example legal proceedings or bankruptcy in the last four years. Neither Valar Financial Advisors Limited nor Lena Bykova has been subject to a reliability event.

Our duties to you

We are bound by the duties in the Financial Markets Conduct Act 2013 (sections 431I, 431K, 431L and 431M) to:

  • Meet the standards of competence, knowledge and skill set out in the Code of Professional Conduct for Financial Advice Services;
  • Give priority to your interests;
  • Exercise care, diligence and skill; and
  • Meet the standards of ethical behaviour, conduct and client care set out in the Code.

Complaints

Internal process. If you have a problem, concern or complaint about our advice or service, please tell us so we can try to fix it. Call +64 21 086 35695, email admin@valar.co.nz or use the form at valar.co.nz/contact. Lyubov (Lena) Bykova will respond within 48 hours (2 working days).

How we handle a complaint:

  1. We confirm the facts with you.
  2. We confirm what a solution looks like for you.
  3. We agree timelines, depending on your circumstances and the nature of the complaint.
  4. We work out possible solutions and explain any implications.
  5. We try to resolve the situation.
  6. We make a final decision and tell you the outcome.

External process. If we cannot agree on how to resolve the issue, or you decide not to use our internal process, you can contact our external dispute resolution scheme, Financial Services Complaints Limited (FSCL). This service is independent and costs you nothing.

Contact

To ask about this disclosure, or to request a free copy, email admin@valar.co.nz.

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