Digital financial advice activity in New Zealand registered significant growth over the past year, with the estimated number of clients receiving digital advice increasing by 90% from around 86,500 in 2024 to more than 164,800 in 2025, according to the Financial Markets Authority.
A report published by the Authority in April 2026, analyses regulatory returns submitted by licensed financial advice providers, providing insight into the trends and themes for the financial advice sector and where regulatory focus is needed. The report covers the periods from 1 July 2023 to 30 June 2024 and from 1 July 2024 to 30 June 2025.
The number of financial advice providers offering advice through digital facilities also increased by 21%, reflecting greater use of digital channels to reach and serve clients. The report revealed that licensed financial advice providers increased 10% year-on-year (1,410 to 1,553) and the number of financial advisers increased almost 9% to 9,197. Half of all providers engage just one adviser, while three providers each have more than 500 advisers.
There were fewer reported complaints to financial advice providers in the 12 months to 30 June 2025 than in the corresponding period ended June 2024. While more complaints were escalated to dispute resolution schemes, the number of complaints upheld fell significantly and almost all complaints were resolved within three months.
FMA Executive Director of Regulatory Delivery Clare Bolingford said, “Complaints give providers critical insights into where things can go wrong, what can be improved, and how firms can strengthen their systems to ensure better consumer outcomes.”