For investors residing in New Zealand, the most accurate and relevant term to describe investors with special access to financial products is a "Wholesale Investor".
If you meet the criteria for one or more of the categories listed below (summarised from the NZ Financial Markets Conduct Act 2013), you are considered to be a Wholesale Investor and can confirm your status on the Jasper platform.
There are a variety of ways to qualify as a Wholesale Investor:
You're an "Eligible Investor" because you have sufficient knowledge and experience dealing in financial products that enable you to assess the merits and risks of the transaction. Eligible investors are required to certify that they are an eligible investor by completing the Jasper Eligible investor certificate and having it certified by an independent lawyer, accountant, or financial advisor (unless you meet one of the other criteria below).
Your net assets, combined with the assets of entities you control, exceeded $5 million NZD for the 2 most recent financial years, or the total turnover of you and the entities you control exceeded $5 million NZD for the 2 most recent financial years.
You own, or at some time during the last 2 years have owned, a portfolio of "financial products" of a value of at least $1 million NZD. Financial products include debt securities, equity securities, managed investment products, and derivatives.
You have, during the last 2 years, carried out 1 or more transactions to acquire "financial products" where the amount payable under those transactions (in aggregate) is at least $1 million NZD and the other parties to the transactions were not associated with you.
Your principal business is investing in financial products.
Your principal business is providing a financial adviser service in relation to financial products.
Your principal business is providing a broking service in relation to financial products.
You're in the business of trading in financial products on behalf of other people.
Within the last 10 years you've been employed in an investment business and, for at least 2 years during that 10 year period, you participated in the investment decisions made by that investment business.
You're a Qualifying Financial Entity or an authorised financial adviser in New Zealand.
It is a simple online process to complete a wholesale certificate on the Jasper platform if you qualify, instructions can be found here