The number of financial advisers in New Zealand grew by 8.4% to reach nearly 9,200 in the year to 30 June 2025, according to the FMA’s November Financial Advisers Update.
The authority says financial adviser regulatory returns for the period 1 July 2024 to 30 June 2025 are in, and preliminary data finds there are 9,184 advisers (up from 8,472 in 2024) with 1,550 licensed financial advice providers submitting their regulatory return.
The FMA says the data provides valuable insights into the financial advice industry and it will be publishing a comprehensive industry snapshot next year. But amongst other preliminary statistics it points to:
- Life and health insurance remain the most commonly advised financial products
- In 2025, 49 financial advice providers provided a digital advice service and 164,841 retail clients received digital advice across these providers (that resulted in them acquiring a financial product). This is a 90% increase from last year
- 97.5% of complaints received were settled within three months
…Since July 2025, 59 financial advice provider licences were approved…
The same advisers update also offers highlights of the FMA’s work across licensing, engagement, monitoring and enforcement activity for financial advice since 1 July 2025, including that 59 financial advice provider licences were approved.
The FMA also points to 42 misconduct reports regarding a financial advice provider or a financial adviser being lodged and assessed. Notable themes include:
- Unsolicited contact (cold-calling)
- Concerns around misleading sales promotions
- Misrepresentation of insurance policy coverage (including exclusions)
- Allegations of unethical conduct
- Misleading or incorrect disclosures
“Not all notifications result in an investigation or formal regulatory action. Depending on the circumstances, our response may involve reviewing the entity’s risk profile, conducting desk-based or onsite reviews, making further inquiries, or engaging informally with the entity,” the FMA states.
Click here to read the full Financial Advisers Update.