The Financial Markets Authority (FMA) has released its fourth statistical report on Authorised Financial Advisers (AFAs) in New Zealand. The requirement of the regulator is year-to-year submission of the annual information return from the financial advisors. The Report is relevant for AFAs and other members of the financial services industry.

The Report provides information on the profile of AFAs, the types of services provided by AFAs, the profile of the AFA's clients, how AFAs are paid, the types of KiwiSaver advice provided, the amount of insurance advice, and the other services provided by AFAs.

The data for the issued report was taken from the questionnaire to provide a snapshot of the sector for the period of 12 months ending June 2017. In order to enable the industry, media and the interested members of public to better cooperate and study the data, the report was published in Tableau.

The majority of AFAs can give personalised financial advice on all categories of financial products. It is important to differentiate AFAs from RFAs and QFEs. Registered Financial Advisers (RFAs) are not licensed or regulated by the FMA. RFAs can give both class and personalised advice on all financial products and non-investment financial products. As to the Qualifying Financial Entity (QFEs) advisers, they do not need to register individually. The y are allowed to give personalised advice only about products provided by the financial services firm that employs them. This firm is responsible for the given advice.Around one third of AFAs work for QFEs.