Financial advisers are dealing well with customer complaints, usually resolving them before any external investigation is needed, Financial Services Complaints Ltd says.

AFAs will have to answer 40 questions about their businesses each year in Information Returns submitted to the Financial Markets Authority.

Associations representing financial advisers have held meetings with the Financial Markets Authority to discuss their concerns about the new AML/CFT reporting requirements.

Loan-to-value restrictions may have allowed the monetary policy tightening cycle to start later than it otherwise would have – and the OCR could be up to 50bps higher now without them, the Reserve Bank says.

Banks are offering bonus commissions so regularly that it’s almost become the norm, says one broker.

The number of financial advisers promoting New Zealand exchange-traded funds to their clients is growing, Smartshares spokesman Sam Stanley says.

NZ Qualifications Authority approval for the new Certificate in Financial Services, Level Five, is expected to be granted next month.

Financial advisers who cater for couples need to make sure they adequately consider the needs of the less risk-tolerant partner,  risk profiling firm FinaMetrica says.

New Zealanders are opting less to seek financial advice from friends and family and turning more towards those viewed as experts in their field, the latest Mercer KiwiSaver sentiment index shows.

A lack of competition in the property valuation market will not be good news for consumers, the Property Institute says.

Advisers and other financial services industry participants understand that it will take some time to rebuild trust in the financial markets in this country, the Financial Markets Authority’s chief executive says.

New Institute of Financial Advisers president Michael Dowling says he will build on the hard work done by Nigel Tate when he takes over in July.

Many advisers will need more than six months to get their business practices in order to comply with the new discretionary investment management services regulations, financial services legal expert David Ireland says.

The Reserve Bank has issued a much tamer third consultation paper as part of its review of reinsurance funding arrangements.

There will be no change to Guardian Trust’s obligation to prudently manage money on behalf of clients now it has merged with Perpetual Trust to become Complectus, its managing director says.

House sales turnover has dropped more than the Reserve Bank expected since the new loan-to-value restrictions were introduced.