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). 

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. 

What if something goes wrong?

If you have concerns about an Adviser and how they treated you , you have a right to make a complaint. All advisers belong to a Dispute Resolution scheme, if anything goes wrong or you have concerns about an adviser - this service is free to use.  

More help 

Get support at any point from: 


This helpline gives free budgeting advice to individuals, family and whānau. Financial mentors can help you understand your financial situation, organise your debt and plan for the future. They can also put you in touch with a local budgeting service.

Phone 0800 345 123, or use live chat, email or text, if you prefer. 

MoneyTalks(external link)

Community Law Centre

Free one-on-one legal advice for people with limited finances. The organisation has 24 centres throughout the country. You can find legal information and other resources on its website. 

Our law centres(external link)  — Community Law Centre