New Zealand financial advisers have put significant time and large amounts of money into complying with anti-money laundering legislation, but research indicates the regime is ineffective.

The only way to remove conflicts of interest in banking is to stop vertically integrated organisations making and selling their own products, one adviser boss says.

Investors who work with advisers are on track to achieve better outcomes in their KiwiSaver accounts.

What constitutes “independent” advice is one of the issues that will be considered by regulators developing the new regime for financial advice.

Pie Funds' move to cut performance fees should prompt useful industry discussions - but isn't in itself a good move for investors, Morningstar director of manager research ratings, Asia-Pacific, Chris Douglas says.

[UPDATED] National says the New Zealand response to the Australian Royal Misconduct into Misconduct in the Banking, Superannuation and Financial Services Industry has been appropriate - but there's more the government could be doing to ensure banks are behaving.

Requiring insurers to have financial strength ratings adds cost to the industry but does little to help consumers, industry commentators say.

Two organisations that have been at the forefront of financial advice in New Zealand over recent decades are in their final weeks.

Advisers working for vertically integrated product providers should be required to disclose all the money the organisation could make from each product recommendation, right up the value chain, it has been argued.

Fisher Funds chief executive Bruce McLachlan says his firm won't be rushing to match Pie Funds' move to drop performance fees.

Product-based commission should be banned for financial advisers offering advice on KiwiSaver, Milford Asset Management chief executive Troy Swann has told an event in Auckland.

New Zealand's financial advice sector is cautiously optimistic about plans for KiwiSaver annual statements to show members what their projected balances could produce in income.

Angus Dale-Jones says the Code Working group is working through just fewer than 2000 pages of submissions on its initial proposals.

Partners Life managing director Naomi Ballantyne says the collapse of an insurance tech start-up is a shame but not a major blow to her company.

Giving insurers access to medical records with every client application would reduce issues of non-disclosure, but increase the cost and time associated with new policies, Partners Life managing director Naomi Ballantyne says.

Concerns about KiwiSaver creating inequity in the retired population would be better tackled by abolishing the scheme entirely than introducing new tax incentives to get people saving more, the working group considering the future of tax policy has been told.