First NZ Capital Granted License
First NZ Capital Granted Discretionary Investment Management Licence from the FMA
25th November 2015
CEO of First NZ Capital (FNZC) Scott St John is pleased to announce that FNZC has been granted a Discretionary Investment Management Service licence (DIMS) from the Financial Markets Authority (FMA) effective 30 November 2015.
FNZC has long standing and market leading businesses in New Zealand Financial Markets in Wealth Management, Institutional Markets and Investment Banking. FNZC has the leading NZX market share by volume and has won INFINZ’s NZ Sharebroker of the Year award six times in the last eight years. We have had an ongoing strategic alliance with Credit Suisse since 2002.
In our Wealth Management business we manage a substantial balance of client assets for New Zealanders in FNZC custodial accounts via our AssetWatch platform.
The DIMS licence means that FNZC adviser teams can continue to offer clients bespoke portfolios managed on a discretionary basis that specifically takes account of their financial situation, investment goals, level of acceptable investment risk and other relevant factors in managing their investments.
Mr St John said “This license is the culmination of the collective efforts of a large team of people and reflects FNZC’s strong corporate governance and compliance, our robust investment process and our operational capability. We believe that this DIMS license will provide our clients with further confidence that their money is being managed to best practice standards”.
FNZC has made additional investment in its technology platforms to both meet the DIMS reporting requirements and ensure it has a market leading client service.
Mr St John added, “Client focus is a core value at FNZC. Our ongoing investment in technology, research and client reporting will continue at FNZC as we look to grow our Wealth business and provide superior investment outcomes for our clients”.
ENDS