Commerce Minister Kris Faafoi has acknowledged some financial advisers feel the transition to the new legislative regime is taking some time to achieve.

Milford Asset Management's chief executive is leaving the firm.

A well-known underwriter with a long history in the personal insurance industry will be leading AIA/Sovereign’s underwriting team in 2019.

The Ministry of Business, Innovation and Employment (MBIE) has laid out the number of financial advisers it thinks will continue on to hold licenses under the new financial advice regime.

Five of the biggest New Zealand credit unions, including NZCU Baywide, are to merge under a single brand as they aim to become a stronger competitor to mainstream banks.

New Zealand banks are bucking international trends by holding on to their advice forces.

Non-banks posted a 22.9% increase in net profit last year, according to KPMG's latest non-bank report. The advisory firm tips non-banks to grow further in 2019, as banks tighten up in the aftermath of the Royal Commission.

Reserve Bank proposals for banks to hold significantly more cash on their balance sheets will lead to slower credit growth and rising interest rates, Kiwibank economists have warned.

Two smaller banks have followed the big four in ending their sub-4% special rates, as mortgage rates creep up to more normal levels. 

Morningstar director of manager research, Asia-Pacific, Tim Murphy says it is still committed to the New Zealand market, despite no longer having researchers on the ground here.

It's not unusual that something big drops right on Christmas, and it's happened again this year. MBIE have released a discussion document which goes a long way to answering one of the biggest questions about impeding regulation. How much it will cost.

The Reserve Bank of New Zealand has proposed that banks should hold between 20% and 60% more capital on their balance sheets, a move likely to increase borrowing rates and put more pressure on major lenders.

Fidelity Life says it is bolstering its support for advisers with a range of new appointments.