Kiwibank is running a second round of its fintech accelerator, which was responsible for helping to launch investment app Sharesies.

Saturn Portfolio has appointed another adviser to its team.

Although Commonwealth Bank has sold Sovereign to AIA, the insurer’s $7 billion home loan book isn’t part of the deal.

Questions are swirling around the future for the Sovereign Home Loans business. As we report here Sovereign will remain part of ASB and hasn’t been included in the sale to AIA.

Dealer group Newpark is encouraging its members to complete the Level Five insurance papers and it will pay for the training.

A key face has moved on from NZAM.

KiwiSaver provider Simplicity has signed a deal with variable annuity firm Lifetime Retirement Income, to provide a new KiwiSaver fund that offers retirees an income for life.

Financial advisers who did not explain their terms of business, in particular their fees, who did not action client requests to change or cancel policies, and issues of disclosure were some of the most common causes of complaints about advisers over the past year, IFSO says.

Commonwealth Bank is selling Sovereign, and its Australian CommInsure life insurance business, to AIA for A$3.8 billion ($4.14b).

The Commonwealth Bank of Australia has confirmed it has sold its insurance business in Australia and New Zealand for A$3.8 billion - the sale include Sovereign.

Peer-to-peer lenders are being told they need to find something other than the “novelty factor” to get investors through the doors – and the answer could be to focus on lending to small businesses.