Milestone Direct, a joint venture between Milestone’s financial advice practises and compliance and training firm Strategi, will be on hand to provide advice to the 14,500 NZDF staff.

It follows a tender process.

Milestone said the deal would mean advisers would help NZDF staff with investments, personal insurance, mortgages, general insurances, health cover, travel insurance, wills and family trusts.

Milestone Direct chief executive Brian Cowley said it could be the largest financial advice contract NZ had ever seen.

It’s a game changer for the financial services industry and the scale of what NZDF is partnering with Milestone to achieve sets a new standard for employers regarding wellness and wellbeing for their employees.”

He said Milestone’s existing clients would benefit because the company would launch new technology and improved processes to improve service levels.

It will mean tweaks to the brand and website.

In a brochure, the NZDF says: "Milestone Direct Limited and the wider Milestone network has been appointed as the official financial advisers to members of the New Zealand Defence Force. They are able to provide you with financial advice on the Scheme plus all other financial products made available to you by NZDF.

"They must place your interests first and help you to determine what is the right choice for you. Milestone Direct will provide general advice on all NZDF saving solutions at no cost to you. If you require more detailed advice on a wider range of financial solutions you can receive their assistance at a reduced fee."

The NZDF is also offering a Mercer-backed KiwiSaver scheme to staff.