As a self-directed brokerage platform, Stake is not providing a “financial adviser service” or a “broking
service” for the purposes of the Financial Advisers Act 2008. Similarly, Stake is not the offeror of the
relevant US securities in New Zealand. Instead, we facilitate trades which are executed by DriveWealth,
the US regulated broker-dealer.
Due to the way we are structured and the service we offer, Stake is not providing financial services to
New Zealand customers. For example, we do not suggest or provide any advice on what shares you
should invest in, nor take custody of your funds.
As such, Stake is not required to be licensed or authorised under, respectively, the Financial Markets
Conduct Act 2013 or the Financial Advisers Act 2008. Nor are we required to be on the Financial Service
Providers Register (FSPR).
As Stake does not provide a financial service (which includes a financial adviser service or broking
service) requiring it to be registered on the FSPR, it is not required to be a member of an approved
dispute resolution scheme in New Zealand.
As a result, New Zealand resident customers do not have access to a dispute resolution scheme, but
would have access to seek recourse or make claims against Stake in accordance with our Terms &
Conditions or under common law (or any other legal right afforded to them).
As a company born to improve the investing and trading landscape around the world, we welcome
feedback and will work hard to resolve issues with you directly, including in relation to transfers and
trading. We take these seriously and carry any issues forward to our partners, and ensure that you are
In the instance where we cannot resolve your issues, you have the right to make claims directly against
Stake and we would seek indemnity from our partners. As customers also enter into an agreement with
DriveWealth when opening an account, you will also have access to the dispute resolution processes set
out in those agreements.
Registration in NZ
As we have New Zealand customers, we (Stakeshop Pty Ltd) are registered as an overseas company
(NZBN: 9429047452152) in accordance with the Companies Act 1993 - please note that this does not
afford our New Zealand customers any additional regulatory