Disclosure & Policies

License Information

First Capital Financial Services Limited (FSP83083) is a FAP, licensed and regulated by the Financial Markets Authority to provide financial advice. This licence was granted on 29 June 2020 as per clause 73 of Schedule 4 of the Financial Markets Conduct Act 2013.

First Capital is a Gallagher Company owned by Arthur J. Gallagher & Co.

Nature and Scope of Advice

The types of advice that First Capital Financial Services can give, together with the products on which it can advise, can be viewed here.

First Capital does not have any material limitations on products that can be advised on, with the exception of:

• Products used in implementing client investment portfolios will be limited to those products/managers approved by the First Capital Investment Committee.
• Products used in the advice for risk management will be limited to products with a strong financial strength rating.

Click here to see an appendix of all products and providers.

Fees

First Capital may charge fees for providing advice and/or implementing and managing different services/products. The fee will depend on the nature of our financial advice and the service we provide.

Investment clients will be charged fees for the use of the investment platform. These fees will include the advice provided, an establishment fee, and an annual monitoring fee.
Insurance clients will need to pay a premium to insurance providers if proceeding with an insurance policy.

If any fees are to be paid, this will be confirmed to you in writing once the service’s nature and scope are known.

Commission

First Capital receives an initial and ongoing commission from insurance companies about whose policies we give advice. If you decide to take out insurance, the insurer will pay a commission to First Capital, and the commission amount is based on the premium.

Conflicts of Interest and Incentives

First Capital has no preferential terms (other than those readily offered to other market participants) or production performance agreements with any product provider. First Capital has no commercial relationships or contractual arrangements presenting any material conflict of interest.

All advisers receive a salary and may qualify for a bonus. From time to time, business partners may offer them small gifts or event tickets; however, this does not influence the financial advice they provide.

Complaints handling and dispute resolution

If you have a problem, concern, or complaint about any part of our service, please let us know as soon as possible by contacting our Compliance Manager at (compliance@firstcapital.co.nz).

First Capital has an internal complaints process and is committed to investigating your concerns promptly and fairly.

If we cannot agree on how to resolve the issue or decide not to use the internal complaints process, you can contact the firm’s approved dispute resolution scheme, Financial Services Complaints Limited (FSCL).

FSCL provides a free and independent dispute resolution service that may help to resolve your complaint and will help us resolve any disagreements. You can contact FSCL at:

Address: Office of the FSCL, PO Box 5967, Wellington 6140
Telephone: 0800 347 257
Website: fscl.org.nz

Duties information

First Capital and our advisers have duties under the Financial Markets Conduct Act 2013 relating to how we give advice. We are bound by duties to:

• Meet the standards of competence, knowledge, and skill set out in the Code of Conduct.
• Give priority to the client’s interests.
• Exercise care, diligence, and skill
• Meet the standards of ethical behavior, conduct, and client care.

If you have a question about anything in this disclosure statement or would like to know more, please contact First Capital at the address stated above.

Download the Disclosure Statement as PDF