Public Disclosure Statement

First Capital Financial Services Limited - Financial Adviser Provider (FAP)

Level 5, 79 Cashel Street, Christchurch 8011 / PO Box 284, Christchurch 8140

Phone: 0800 525 515                                               Email: admin@firstcapital.co.nz

This disclosure statement was prepared on:                                                                                                                                15 March 2021

License Information

First Capital Financial Services Limited ([FSP83083], First Capital) is a fully licenced Financial Advice Provider (FAP) and regulated by the Financial Markets Authority for the purpose of providing financial advice. This licence was granted by the Financial Markets Authority effective from 10 September 2021 as per clause 396 of the Financial Markets Conduct Act 2013. 

Cammell Consulting Group Limited (FSP44441) 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 that can be advised on 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 the implementation for client investment portfolios will be limited to those products/mangers that are approved by the First Capital Investment Committee.

  • Products used in the advice for risk management will be limited to those products that have a strong financial strength rating.

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

Fees

First Capital may charge fees for the provision of advice and/or implementation and management of different services/products. The fee charged will depend on the nature of the financial advice and service that we provide. 

Investments 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 premium to insurance providers if proceeding with an insurance policy. 

If any fees are to be paid these will be confirmed to you in writing once the nature and scope of the service being provided is known.

Commission

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

Conflicts of Interest and Incentives

First Capital does not have any preferential terms (other than those readily offered to other market participants) or production performance agreements with any product provider. First Capital does not have any commercial relationships or contractual arrangements that present 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 that they provide to you.

Complaints handling and dispute resolution

If you have a problem, concern, or complaint about any part of our service, please advise us immediately by contacting the General Manager, Lachie Gunn (lachie.gunn@firstcapital.co.nz) at First Capital. First Capital has an internal complaints process and undertakes to investigate your concerns promptly and fairly.

If we cannot agree on how to fix the issue, or if you decide not to use the internal complaints process, you can contact the firm’s approved disputes resolution scheme, Insurance and Financial Services Ombudsman (IFSO). IFSO provide a free and independent 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: www.iombudsman.org.nz

Duties information

First Capital and our advisers have duties under the Financial Markets Conduct Act 2013 relating to the way that 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 you would like to know anything more, please contact First Capital at the address stated above.

Download Disclosure Statement