Disclosure & Policies

License Information

First Capital Financial Services Limited (FSP83083) is a FAP, licenced 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.

First Capital Wealth Management Limited (FSP1006684) is authorised under our FAP licence to provide financial advice.

Pearce Financial Services Limited (FSP63441) is authorised under our FAP licence to provide financial advice.

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 advising and/or implementing and managing different services/products. The fee will depend on the nature of our financial advice and service.

Investment clients will be charged fees for using the investment platform. These fees will include the advice provided, an establishment fee, and an annual monitoring fee.

Insurance clients will need to pay premiums to insurance providers if proceeding with an insurance policy.

If any fees are to be paid, they will be confirmed in writing once the nature and scope of the service are known.

Commission

First Capital receives commissions 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. The amount of the commission is based on the amount of 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.

Our advisers receive a salary as an employee of First Capital. They do not receive any other incentives or commissions based on 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 immediately by contacting our Compliance Officer, Lachie Gunn, at First Capital (compliance@firstcapital.co.nz). First Capital has an internal complaints process and takes care of your concerns quickly 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, the Insurance and Financial Services Ombudsman (IFSO).

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

Office of the IFSO, PO Box 10485, Wellington 6143

Telephone: 0800 888 202

Fax: 04 499 7614

Website: https://www.ifso.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 behaviour, conduct and client care.

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

Download the Disclosure Statement as PDF