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Our Service Centre and online support services are closed over the holiday period from 5pm Tuesday 24 December 2024 and will reopen at 8:30am Friday 3 January 2025. We will answer any queries as soon as possible on our return.

Financial advice can help you work out what’s right for you, and make sure you are aware of the risks of investment.

Financial advisers can help you make financial decisions that you might not have the expertise or time to fully consider like: KiwiSaver, mortgages, insurance, shares, or cash investments.

Some advisers might be able to give advice on a wide range of financial products, while others may advise on certain products only – such as mortgages or insurance.

Some staff at banks and insurers may also give financial advice. Financial advice can be provided digitally through web, apps and chatbots as well.

Financial advisers are typically paid by fees from clients, or by commission paid by product providers, or by a combination of fees and commission. They must operate under a business that is licensed by the Financial Markets Authority (FMA), be registered Financial Services Provider Register (FSPR) and follow a code of conduct (Financial Advice Code). 

Find financial advice and support with money(external link) — Sorted

Getting advice(external link) — Financial Markets Authority

Financial Advice Code(external link)

Your rights

Changes in the way that financial advice is regulated across the country came into effect 15 March 2021. These changes to the regime have improved things for consumers making it more straightforward when seeking professional financial advice. 

What financial advisers must do

Financial advisers must meet a certain standard of competence and treat you ethically. They need put your interests first and: 

  • Treat you fairly 
  • Act with integrity 
  • Give you financial advice that is suitable for you and your situation 
  • Ensure you understand their financial advice 
  • Explain how they’re paid 
  • Protect your information 
  • Keep their competence, knowledge and skills up to date. 

Making a complaint if something goes wrong

If you think your adviser or any other financial service provider has acted unfairly in any way, then there are options you can take to address your issue.

This can include making a formal complaint with your provider or getting help from a financial dispute resolution scheme. 

Making a complaint about your financial service provider