The report looked at both general and personal insurance.

It found Consumer NZ members found those who purchased insurance through a broker were significantly less likely to be satisfied with the service they got, compared with those who bought direct from an insurance company.

This difference was the most pronounced among respondents with life insurance policies.

Just 28% of those who bought life insurance through a broker were happy with the customer support provided, compared with 44% who bought direct from an insurance company.

Only 34% of those who bought life insurance through a broker felt their policy was easy to understand, compared with 49% of respondents who bought direct from an insurance company.

Consumer NZ said commission should be stopped for insurance advisers.

Financial Advice NZ chief executive Katrina Shanks said it was disappointing.

“Disappointing for New Zealanders and disappointing for quality advisers who are committed to good outcomes for their clients.

“Members of Financial Advice New Zealand are committed to professional standards, to ongoing professional development and to improvements across the sector to help build public confidence and trust.

“Quality advice can make a meaningful and very positive difference. We encourage New Zealanders to engage with advisers who belong to an Association with professional standards for their members. When you engage a builder to build your home, you would seek a master or certified builder as they abide by professional standards. The same applies to financial advice.”

Building public confidence and trust in the sector is essential, she said. “Ensuring individuals and families have the right protection in place for the what-ifs in life is crucial for the financial security of New Zealanders. And to achieve this, we need to build public confidence the sector.

“We expect that the changes to the regulatory regime and the proactive steps taken already by the industry will have a positive impact on increasing consumer confidence."

She said the association would “take on board” the findings.