What First Capital Financial Services does

First Capital Financial Services Limited is a privately held, Christchurch-registered financial advisory firm founded in 2002 by Hugh Percy, now operating across two New Zealand offices (Christchurch headquarters and Auckland) with a third advisor presence in Wellington. The firm serves individual and personal clients, SMEs, and corporate employers across New Zealand through three core service lines: Wealth Management (portfolio management via a multi-currency wrap account covering NZ, AU, US and UK investments, KiwiSaver advisory, retirement planning, and UK pension/QROPS transfers), Risk Management (research-based insurance advisory across medical, business, personal and rural lines), and Employee Benefits (group life and disability, group medical schemes, and workplace financial education). Since April 2025, the firm has been part of the Arthur J. Gallagher & Co. (NYSE: AJG) group, operating under a "Gallagher company" brand mark while retaining its NZ team and client book.

The technology stack comprises a Portfolio Management wrap account that consolidates holdings, trading and reporting into a single cash account across four major currencies; a "sophisticated CRM" providing advisers with instant client record access; and an Investment Committee-approved product universe used to construct client portfolios. Revenue is generated through three streams: subscription-based investment platform fees (advice, establishment, annual monitoring), commissions received from insurers on premium volumes (advisers themselves are salaried with no commission incentives), and professional advisory fees. Pricing is not publicly disclosed and is confirmed in writing once scope is agreed.

Go-to-market is sales-led, executed by a team of qualified financial advisers conducting direct appointments at the two offices or on client sites, supplemented by workplace seminars, on-site employee briefings as part of Employee Benefits service delivery, and referral alliances with professional firms (accountants, solicitors). Customer segments are diversified across individuals (wealth, retirement, KiwiSaver, UK pension transfers), SMEs (key person cover, shareholder protection, group insurance schemes) and corporates (notable named clients include St John for staff medical insurance and Dimension Data NZ for employee benefits on a five-year engagement). The firm is licensed and regulated by the Financial Markets Authority under FSP83083, having been the 100th application to receive a full Financial Advice Provider (FAP) licence on 29 June 2020, and is a member of Financial Advice New Zealand (FANZ) with representation on its Certification Committee.

Name

First Capital Financial Services

Legal name

First Capital Financial Services Limited

Website

https://firstcapital.co.nz

Company type

Private

Founded year

2002

Operating status

Operating

Headcount range

1–10 employees

Short description

First Capital Financial Services is a New Zealand financial advisory firm offering wealth management, risk management (insurance), and employee benefits services to individuals, SMEs, corporates and rural clients across NZ, operating as part of the Arthur J. Gallagher & Co. group since April 2025.

Ownership category

akta.pro rank

Product category

Financial Advisory Services

NAICS

Portfolio Management and Investment Advice (523940)

SIC

Investment Advice (6282)

akta.pro primary industry

Fee-Only Advisory (FSAEAAAL)

Keywords

• Financial advisory services
• Wealth management
• Risk management
• Employee benefits
• Retirement planning

Headquarters

HQ city

Christchurch

HQ country

New Zealand

HQ region

Oceania

Offices2 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure

Revenue model

1. Investment Platform Fees: Investment clients are charged fees for using the investment platform, including advice fees, establishment fees, and annual monitoring fees. These are confirmed in writing once the nature and scope of service is known.
2. Insurance Commissions: First Capital receives commissions from insurance companies about whose policies they give advice. The commission amount is based on the amount of the premium. However, advisers themselves receive salary only and do not receive commissions or incentives based on advice provided.
3. Advisory Fees: First Capital may charge fees for advising and/or implementing and managing different services/products. The fee depends on the nature of financial advice and service provided.

Pricing tiers

Go-to-market motion2 records

Distribution channels2 records

Marketing channels4 records

Core offering

First Capital Financial Services is a New Zealand-based financial advisory firm that provides specialist advice across three core service lines: wealth management (portfolio management, KiwiSaver, UK pension transfers, retirement planning), risk management (medical, business, personal, and rural insurance advisory), and employee benefits (group insurance schemes, group medical schemes, and workplace financial education) for individual, SME, and corporate clients. The firm operates through salaried financial advisers in Auckland, Wellington, and Christchurch, and delivers research-based, impartial advice using Investment Committee-approved products.

Product overview

First Capital Financial Services operates as a financial advisory firm offering three core service lines: Wealth Management, Risk Management, and Employee Benefits. The Wealth Management offering centers on the Portfolio Management Service (a wrap account) and includes KiwiSaver, UK Pension transfers (QROPS), and Retirement Planning as specialized components. Risk Management provides Medical, Business, Personal, and Rural insurance advisory services, all backed by qualitative and quantitative analysis. Employee Benefits encompasses Group Life and Disability Insurance, Group Medical Insurance, and Financial Education services. The company serves individual, SME, and corporate clients throughout New Zealand, with advisers in Auckland, Wellington, and Christchurch. Since April 2025, First Capital has been part of the Gallagher Group of Companies.

Differentiator

Problem solved

Functional benefit

Products and services

• Wealth Management

Quantifiable outcome

• 5-year partnership with Dimension Data NZ demonstrating retention and client satisfaction
• +1 more outcomes

Named customers2 records

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Three partnerships are on record, tiered core and minor.

• Financial Advice New Zealand (FANZ)coreOthersFirst Capital advisers are all members of Financial Advice New Zealand (FANZ), a professional association for financial advisers in New Zealand. Lachie Gunn sits on the FANZ Certification Committee.
• Vitality WorksminorStrategic or Co-development PartnerVitality Works provides workplace wellbeing solutions and is referenced as a trusted partner for health and wellness services, complementing First Capital's employee benefits offerings.
• Insurance and Financial Services Ombudsman (IFSO)minorOthersIFSO is the approved dispute resolution scheme for First Capital, providing free and independent dispute resolution service for complaints that cannot be resolved internally.

Scale indicators4 records

Recent moves7 records

Expansion highlights6 records

Direct peers

• Forsyth Barr: New Zealand-headquartered investment advisory and wealth management firm offering portfolio management, KiwiSaver, investment research, and corporate advisory — directly comparable to First Capital's wealth management and research-based investment proposition.
• Jarden: NZ-based full-service investment and advisory firm providing wealth management, KiwiSaver, and corporate advisory services — a directly comparable NZ advisory peer with similar client mix and product range.
• Craigs Investment Partners: New Zealand investment advisory firm offering portfolio management, KiwiSaver, equities research, and private wealth services — a direct peer in NZ advisory and investment management.
• Hobson Wealth: NZ boutique wealth management and advisory firm serving HNW individuals and families with portfolio management and retirement planning — directly comparable in client segment and advisory-led service model.
• Fisher Funds: NZ-managed investment manager offering KiwiSaver, managed funds, and portfolio management services — closely comparable to First Capital's investment platform and portfolio management capability.
• Perpetual Guardian: NZ wealth advisory, trust, and estate planning firm offering investment advice and intergenerational wealth services — comparable in providing advice-led wealth and retirement planning to NZ individuals and families.
• Crombie Lockwood: NZ insurance broking and risk advisory firm offering business and personal insurance solutions — a direct peer to First Capital's risk management/insurance advisory arm, with overlap in commercial and group insurance clients.

Broad incumbents

• AMP New Zealand: Large Australasian wealth management and financial services incumbent offering KiwiSaver, superannuation, investments, and advice across NZ — broader incumbent with overlapping advisory and investment capabilities but at much greater scale.

Emerging players

• Kernel Wealth: NZ digital-first KiwiSaver and managed funds provider — an emerging digital-native player intersecting First Capital's wealth and KiwiSaver offerings through a low-cost, self-service model that pressures traditional adviser economics.
• Simplicity (NZ): NZ low-cost KiwiSaver, investment, and life insurance provider with a not-for-profit structure — an emerging disruptor targeting KiwiSaver balances that First Capital also advises on, competing primarily on cost.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/FirstCapitalNZ

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles20 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about First Capital Financial Services