AMP says plans to sell its New Zealand wealth management business are well under way and that it is in discussions with an unspecified "number" of parties.

Beau Bertoli, joint CEO of non-bank business lender Prospa, sat down with TMM Online to discuss SME business opportunities for advisers, and lessons from the firm's first year in New Zealand. 

Investors are still being rewarded for taking risk – but there may not be another year like 2019 for some time, Morningstar’s director of manager research for Asia-Pacific Tim Murphy says.

KiwiSaver provider Generate says its members' personal data has been accessed by unauthorised third-parties.

Economists say the Reserve Bank struck a positive tone on growth as it kept the OCR on hold, but fear it may have underestimated the impact of the coronavirus.

The Reserve Bank of New Zealand has kept the official cash rate on hold. Here's what the central bank said: 

AMP Capital, which has predominantly been a wholesale fund manager, has moved its small retail channel to InvestNow.

Commerce Minister Kris Faafoi has promised the financial services sector there will be no more big announcements this year.

Non-bank business lender Prospa has launched a new deal for SMEs, calling on advisers to support small business clients at the end of the tax year.

NZFSG/Loan Market has hired a new head of customer experience as it adjusts to the demands of the new regulatory environment.