BNZ will only deal with groups who hold a FAP licence under the new regulatory regime, becoming the first bank to formally outline its stance on the subject.

Non-bank lender Bluestone has passed on cuts of up to 40 basis points after the Reserve Bank’s Official Cash Rate cut last month.

Advisers are directing clients to digital platforms to carry out their investment plans, the general manager of Hatch, Kristen Lunman, says.

ASB has added two new funds to its stable of investment options – the ASB KiwiSaver Scheme Positive Impact Fund and the ASB Investment Funds Positive Impact Fund. Both will have a focus on investing in companies that are making a positive impact on society or the environment.

Complaints against banks by home loan borrowers rose by 12.3% last year amid a rising number of declined applications, according to the Banking Ombudsman Scheme. 

An insurance industry reluctant to move on high upfront commissions may find the Government does it for it, the Financial Markets Authority says.

Commerce Minister Kris Faafoi says insurers are "passing the buck" to advisers.

Nikko AM managing director George Carter says that advisers should not worry about any potential threat from roboadvice.

Delegates at the Financial Services Council annual conference were given a clear message that they needed to “up their game”, or the Government would intervene.

Z Energy, BP and Waitomo Group have challenged the Commerce Commission’s claims that a lack of competition in the fuel sector is delivering participants excess returns.

Changes to KiwiSaver may be of most benefit to those who were already on track to a better outcome, ASB says.

Colonial First State Global Asset Management is rebranding as First Sentier Investments.