KiwiSaver has massively increased the market for financial advice in New Zealand, one analyst says.

A reduction in adviser upfront commissions would wipe out new entrants to the insurance industry, it has been claimed.

A package of Financial Adviser Act (FAA)  changes that brings in competency and ethical obligations for all advisers is likely the “goldilocks” solution that has the best chance of becoming law, it has been claimed.

External disputes resolution schemes are safe for now - the Ministry of Business, Innovation and Employment (MBIE) has indicated no desire to cull them down to a single provider.

There is tentative support for the Ministry of Business, Innovation and Employment’s options paper, which will guide the Financial Advisers Act review.

[UPDATED] The contentious Melville Jessup Weaver report into insurance adviser remuneration structures might have been an expensive waste of money.

[UPDATED] An options paper that will guide the review of the Financial Advisers Act has been released. It seems virtually certain that RFAs can expect their regulatory obligations to increase - although a ban or restriction on commissions is not a "preferred option".

Work is under way to form a new industry body that would represent life insurers who distribute product via advisers.

Advisers would see their incomes and business values slashed if recommendations made in a new report on the industry were enacted, one academic says.

The highly-contentious, MJW report into life insurance advisers’ remuneration is out. It has seven key recommendations including slashing commissions and banning overide payments to dealer groups. 

A disclaimer on a report issued today by the Financial Services Council shows how divisive it is.

Insurers react to report. OnePath doesn't agree with much of it. Partners says the authors guessed numbers and Asteron becomes fifth company to quit the FSC.

Advisers and their remuneration structures have been unfairly singled out for criticism, the Professional Advisers Association says.

Advisers and fund managers who do not consider environmental, social and governance (ESG) factors in their investment decisions would be derelict in their duty, the NZ Super Fund's head of investment analysis, David Rae, says.

Mud-slinging between different factions of the financial services industry is damaging and could harm its reputation, the chairman of the Professional Advisers Association says.

Roboadvice is being tipped to be the most significant development in the delivery of financial advice in this country in the past three decades.