A new explanation of how advisers could be expected to legally put clients’ interests first is causing more confusion that it solves.

Advisers cannot keep doing the things they have always done and expect the same outcomes, a financial services consultant says.

Industry commentators are angry that attempts to clearly separate sales activity from advice appear to have been abandoned in the rewrite of financial adviser legislation.

Advisers who received requests for information from the Financial Markets Authority (FMA) in its investigation into replacement business have now been asked to hand over copies of client files.

Pie Funds is relaunching its global fund, and increasing the number of direct investments it holds

Going to court is not always the most effective way to deal with conduct and compliance issues, the Financial Markets Authority says.

Milford executive director Brian Gaynor says his decision to give up portfolio management duties is part of a natural evolution for the firm.

Former deputy prime minister and finance minister Sir Michael Cullen says the need for an annuity provider to help KiwiSaver members manage their lump sums on retirement is another sign of the scheme’s success.

New rules governing financial advice have done away with a proposed "agent" category, but many people are unimpressed.

An exposure draft of the new financial advice regime has been released today, outlining big changes to come over the next two years.

Advisers’ concerns about their regulatory requirement to put their clients in “appropriate” investments may be constraining growth in junior boards, a report on the equity market suggests.

Sovereign’s new distribution boss says the upcoming Financial Advisers Act review is likely to simply make clearer obligations that already exist for insurance brokers.

[UPDATED] There are calls for more promotion of investment and retirement planning as a career, as a survey of banks reveals low numbers of advisers being hired.

Insurers are wrestling with how to offer insurance to New Zealanders holding larger amounts of debt later in life.

Advisers can expect an increase in monitoring activity over the coming year as the Financial Markets Authority resumes tighter supervision of the sector.

NZX says the addition of two big clients - Craigs Investment Partners's KiwiSaver and Hobson Wealth -  to its NZX Wealth Technologies platform has prompted more wider market interest in its offering.