We are undertaking a thematic review to better understand the use of artificial intelligence (AI) in financial advice across New Zealand.
Advances in AI technologies, including generative AI, machine learning, AI-powered decision-support tools and emerging agentic AI systems, are creating new opportunities and challenges for financial advice providers, technology firms and consumers. The FMA’s Access to Financial Advice in New Zealand review identified a significant opportunity for technology-enabled and hybrid advice models to expand access to advice and serve more people.
Through this thematic review, the FMA aims to develop a practical understanding of how AI is being adopted and used in practice, the benefits and risks being observed, and any legal, operational or regulatory questions arising within the sector.
This thematic review is exploratory and fact-finding in nature. It is intended to help the FMA and industry build a shared understanding of how AI is shaping financial advice and how good consumer and market outcomes can continue to be supported in an evolving technological environment.
We encourage all relevant stakeholders to share their views and contribute to this important conversation about the future use of AI in financial advice in New Zealand.
Please read the Engagement Overview document [PDF 250KB].
Share your views
As part of this engagement, the FMA is seeking input through four targeted surveys.
The surveys are open until 04 September 2026.
Please complete the survey that best aligns with your organisation, role, expertise or perspective. To access the surveys, visit the FMA Portal and select the relevant AI in Financial Advice survey.
Financial advice providers and advisers survey
For financial advice providers, advisers, prospective market entrants and firms using, developing or considering the use of AI in connection with financial advice. The survey asks about governance, oversight, suitability, record-keeping and consumer outcomes.
Technology service providers survey
For technology firms and service providers that supply software, platforms, tools or AI-enabled services to the financial advice sector. This survey seeks insights into AI-enabled products, operating arrangements, data practices and market observations.
Financial services legal advisers survey
For legal advisers, in-house legal teams and law firms that advise participants in the financial advice sector. This survey asks about legal and regulatory matters, governance considerations, contractual arrangements and emerging areas of regulatory uncertainty associated with AI use in financial advice.
Industry associations and stakeholders survey
For industry associations, professional bodies, consumer representatives, dispute resolution schemes and other stakeholder organisations with an interest in the financial advice sector. This survey seeks broader perspectives on AI adoption, opportunities, risks and future developments.
What are the next steps?
Once survey responses have been reviewed, the FMA may undertake follow-up engagement with selected participants who have indicated they are willing to be contacted. Follow-up engagement may include interviews, workshops or meetings to better understand particular themes, experiences or emerging issues identified through the survey responses.
