Financial Advice Provider Disclosure Statement

This Disclosure Statement provides you with important information about the financial advice services provided by Kalkine New Zealand Limited (“Kalkine”, “we, our, us”). It is an important document as it provides useful information about the kind of services that Kalkine provides in terms of general financial advice, the fees that we charge, any actual or potential conflicts of interest, our duties and obligations and complaints procedure.

About Us

Kalkine New Zealand Limited is a Financial Advice Provider (‘FAP’) and holds a Class 1 Financial Advice Provider Licence issued by the Financial Markets Authority (‘FMA’) in accordance with the Financial Markets Conduct Act 2013 (‘FMCA’) to provide financial advice services in New Zealand. Our FSPR number is FSP691351.

To view Kalkine’s registration, please visit the Financial Service Providers Register https://fsp-register.companiesoffice.govt.nz/.

Nature and scope of advice

Kalkine provides only general financial advice in relation to equity securities and based on technical analysis, on commodities to retail clients (“You”/ “Your”) through research reports as well as other publications via newsletters, e-letters and articles on Kalkine’s website that contains general recommendations in the form of BUY, SELL, HOLD etc.

As a Class 1 Financial Advice Provider Licence holder, Kalkine provides financial advice to clients on Kalkine’s own account and not through any individual nominated representatives or financial advisers.

Kalkine also has an outsourcing arrangement with its related body corporate "Kalkine Solutions Private Limited" based in India, to provide call centre services and financial research with respect to preparation of reports on Kalkine’s behalf.

Kalkine is responsible for complying with the duties and obligations of a FAP under the Financial Markets Conduct (FMC) Act 2013.

General Advice

The nature and scope of the advice given by Kalkine and provided on the Kalkine website (https://kalkine.co.nz/), in our reports and other publications, and through our customer service support center, is limited to general financial advice only. This means that Kalkine’s advice does not take into account Your individual investment objectives, financial situation or needs. You should consider the appropriateness of any advice provided by taking into account your own objectives, financial situation and needs and seek independent financial advice from a financial advice provider on your personal position before making any financial decisions.

Trading in financial products involves the risk of loss (for example, due to market movements). It is your responsibility to understand the risks of investing and seek financial advice on your personal circumstances from a financial advice provider as necessary before acting on any advice. Not all investments are appropriate for all people.

Fees, expenses, or other amounts payable

Service Fee: We only charge You an annual subscription fee when You subscribe to one of our research services. At the end of the year, you have the option to renew and pay the then applicable subscription fee (including the option to change the service Kalkine provides to you and pay the applicable fee for that service).  You could also let your subscription lapse, in which case no further subscription fees will be payable. Our subscription fees range from NZ$199 to NZ$14,999 incl. GST per annum, depending on the service You select and are payable annually in advance. Kalkine’s multi-year subscriptions may be sold at a discounted price. Monthly subscriptions may be offered in certain cases (in Kalkine’s absolute discretion), in which case the annual subscription fee will be adjusted on a pro rata basis, and any payment must be made in advance before the month in question. The subscription fee may change from time to time as a result of ongoing promotional offers, and you will be advised of these changes if they apply to You and your subscription. If You have signed up to one of Kalkine’s free trial subscription products, there is no payment required during the trial period. All fees and expenses will be disclosed to You before You receive any financial advice from us.

In the future, Kalkine may offer premium subscription packages which will involve additional fees for the additional benefits or additional reports.  The relevant fees will be disclosed to You before you receive any additional financial advice from us, and You may have the option to purchase such premium subscription packages. 

From time to time, subscriptions may be offered for sale at a discounted price and/or with additional benefits as part of special promotions.

Remuneration of Kalkine employees:

All employees and directors of Kalkine receive a salary and may also be eligible to receive performance-based bonuses (which are discretionary) if they meet a pre-set agreed performance indicator, with an overriding discretion as to the amount of the bonus based on quality of audit calls, conduct and complaints.

Apart from the subscription fees referred to above, neither Kalkine nor its employees receive any other remuneration, commission or any other form of benefits in respect of, or that is attributable to, its provision of the financial advice services or for referring another person to Kalkine.

Commissions and other incentives

Kalkine conducts independent research in relation to equity securities and performs technical analysis on commodities and does not receive any form of commission or incentives from financial product issuers of those equity securities and commodities for its recommendations nor for providing financial advice services. 

Conflict of interest

Neither Kalkine nor its affiliates have any associations or relationships with issuers of financial products which might reasonably be expected to be capable of influencing Kalkine in providing the Services.

Kalkine’s related group entity, Kalkine Media New Zealand Limited (company number 8107196) (“Kalkine Media”) conducts an investor relations and media business that is separate from Kalkine’s businesses of providing the financial advice services. Kalkine Media may from time to time have relationships with financial product issuers in relation to marketing, publicity and other matters which form part of Kalkine Media’s business.

Kalkine avoids potential conflicts of interest where possible by not undertaking or publishing research reports on product issuers which are Kalkine Media’s clients. Where it is not possible to avoid a conflict of interest and where such a report is published, Kalkine discloses specific conflicts of interest to its clients prior to providing the financial advice service to enable the client to make an informed decision as to whether to accept the provision of the relevant service.

Kalkine has implemented conflict management processes to ensure that any relationships between Kalkine Media and product issuers as part of Kalkine Media’s separate business could not reasonably be expected to be capable of influencing Kalkine’s provision of the financial advice services. The arrangements that Kalkine Group has established for managing conflicts of interest include: 

• information barriers to protect the dissemination of confidential or inside information, including restrictions on dealing with such information and, where applicable, physical separation and system access restrictions;
• arrangements and processes to ensure transactions are entered into on arm’s length terms, where applicable;
• segregation of duties and supervision for persons engaged in different business activities including procedures for ensuring appropriate communication between businesses, for example restricting communications between research analysts and sales employees;
• appropriate governance, transparency and oversight of compensation of Kalkine Group representatives to avoid incentivizing behaviours that may give rise to conflicts of interests;
• restrictions in relation to dealing in financial products (including financial products the subject of Kalkine Group’s services) applying to directors and employees, including a requirement on all staff to provide personal trading declarations;
• a policy covering the production and dissemination of investment research by Kalkine Group;
• training of employees on conflicts of interest management; and
• internal escalation processes which require conflicts to be escalated on a timely basis and considered at an appropriate level of seniority and by the correct stake holders to arrive at the most appropriate resolution.

Our duties and obligations when providing general financial advice

Kalkine is bound by the duties under the Financial Markets Conduct Act 2013 to:

• Meet the standards of competence, knowledge, and skills as set out in the Code of Professional Conduct for Financial Advice Services (known as the Code of Conduct);
• Give priority to Your interests;
• Exercise care, diligence, and skill;
• Meet the standards of ethical behaviour, conduct, and client care set out in the Code of Conduct.
• Ensure the client understand the nature and scope of advice.

Complaints and disputes resolution process

If You have a complaint or concern about us, our customer support call centre or our subscription services, please contact us on (09) 884-4176 or Email us at [email protected] or [email protected].

After we receive Your complaint, we will assess it and decide what (if any) action should be taken in response. The time it takes us to assess, respond to and resolve complaints generally depends on their nature and complexity. If Kalkine is unable to resolve the complaint to Your satisfaction and You are unhappy with our decision, You may refer Your dispute to the independent and free Financial Dispute Resolution Service (FDRS), which may help investigate or resolve the complaint. Kalkine is a member of FDRS, membership number FM5593.

The contact details for our external dispute resolution service provider are:

Financial Dispute Resolution Scheme

Post: Freepost 231075, PO Box 2272, Wellington, 6140

Free telephone within NZ: 0508 337 337

Overseas: If You are calling from outside New Zealand, call +64 4 381 5047        

Email: [email protected]

Website: www.fdrs.org.nz 

Reliability History

The FMA issued a Direction Order to Kalkine New Zealand Limited on 10 August 2022 to stop making outgoing sales calls to people in New Zealand.  The FMA considered Kalkine had materially breached various fair dealing provisions in Part 2 of the Financial Markets Conduct Act 2013. The FMA also considered Kalkine’s marketing conduct fell short of the requirements of Code Standard 2 of the Code of Professional Conduct for Financial Advice Services, which requires all persons who provide regulated financial advice to act with integrity. The direction stipulates that Kalkine must not make outgoing sales calls to persons in New Zealand until the FMA is satisfied that Kalkine’s compliance processes are sufficient for outgoing sales calls to resume.

Later, on 21 December 2022 FMA issued a letter stating that Kalkine may resume making outgoing sales calls under clause 3 of the Direction Order (given pursuant to section 414(2)(c) of the Financial Markets Conduct Act 2013 (the FMC Act)) dated 10 August 2022.

Contact Details

Kalkine New Zealand Limited (FSP691351).

• Address - Office No. 3333, Level 33, ANZ Centre, 23-29, Albert Street, Auckland, 1010.
• Telephone - (09) 884-4176 between the hours of 10:00 am -6:00 pm weekdays.
• Email - [email protected]

Last updated - 29/08/2024