Australian advice scandals: Are we being ripped off, too? "Our customers can be assured no systemic issues have been identified to date and can have confidence in the New Zealand banking system overall. Whyte said a key problem for the industry in New Zealand was the separation of product sales from true financial advice. It levels the playing field for financial advisers – requiring all who give advice to work for a licensed financial advice provider, and to operate under a code of conduct. It will apply to both the financial advice arms of banks and to independent adviser firms.

Source: Stuff April 23, 2018 03:33 UTC