New Zealand's Financial Market's Authority Podcasts

Who actually owns your investments? In this episode Jess is joined by FMA Head of Financial Advice Romil Ghelani and Director of Reporting, Markets and Investments John Horner to unpack investment ownership, custody risk and the protections around client money and assets. They explain the difference between market risk and custody risk, the role of an independent custodian, why investor assets are generally kept separate from a provider’s own money, and what investors can check for themselves. The conversation also covers financial advisers, share-trading platforms, KiwiSaver, crypto assets, cyber risks, scams and lessons from past fraud cases. You’ll learn: what a custodian does and why it matters how managed fund assets differ from money held by a bank what protections apply if an investment provider runs into financial difficulty what reports and assurances investors can ask for the warning signs that should prompt more questions. The key takeaway: understand what you own, who holds it, how it is protected and what happens if something goes wrong. If in doubt, ask questions. This content is general in nature and is not financial advice. Consider seeking advice about investing from a regulated financial adviser.  

KiwiSaver is one of the biggest investments many New Zealanders will ever have, but how often do we stop to check whether it’s working for us?In this episode of Occasional Conversation, FMA’s Paul Patton is joined by Emelie Jensert, Head of Investment Management, and Philip Stevens Chief Economist to unpack the FMA’s KiwiSaver Annual Report 2026. They discuss what the latest figures tell us about the growth of KiwiSaver, record contributions and withdrawals, first-home withdrawals, switching between funds and providers, and why member engagement matters more than ever.Whether you’re just starting out with KiwiSaver, saving for a first home, approaching retirement, or working in the financial services sector, this episode is a useful reminder to take a moment to review your settings, understand your options and think about whether your KiwiSaver is right for where you are now and where you want to be in the future.In this episode you will learn:What the KiwiSaver Annual Report 2026 tells us about the scheme’s growthWhy more people are contributing, switching funds and reviewing their settingsWhat record first-home withdrawals and retirement withdrawals meanHow fees, fund choice and provider communication affect membersWhy fraud prevention, scams awareness and operational resilience remain key prioritiesSimple steps members can take to better understand their KiwiSaverThe FMA’s KiwiSaver Annual Report 2026 and related resources are available at fma.govt.nz.

In this episode, Hannah Chapman (Ngāti Tūwharetoa) references a story that has been shared with permission by Professor Rebecca Bednarek (Te Herenga Waka—Victoria University of Wellington).  The Matangirua team acknowledge Professor Bednarek for her manaaki in sharing insights from her research [National Hazards Commission, Biennial Research Grant, 4535].The FMA has published Experiences of tangata whenua with insurances, new research exploring how Māori experience the insurance system in Aotearoa. The research found that while insurance is highly valued, barriers including affordability, trust, product suitability and accessibility can make it difficult for some tangata whenua to access and maintain cover.  To find out more head to our website.

Join FMA Chief Executive Samantha Barrass as she shares an overview of the Financial Conduct Report (FCR) and what it means for the year ahead.The Financial Conduct Report sets out the FMA’s regulatory priorities for the next 12 months, highlighting the key risks and opportunities we see across financial markets and how we plan to respond. It also reflects on the progress made over the past year to support better outcomes for consumers, investors and businesses. In this episode, Sam discusses why the FCR is an important tool for industry, providing greater transparency on our expectations and helping firms understand where we are focusing our supervision and engagement. She also outlines what boards, executives and leaders should be considering, and how organisations can use the insights from the report to strengthen their approach to conduct and deliver better outcomes for their customers.Watch now for a clear overview of the FMA’s priorities and how industry can engage with us over the coming year. 

Join Michael Hewes, Director of Deposit Taking, Insurance and Advice, as he discusses the risks incentives can pose to fair consumer outcomes.Why non‑monetary benefits and sales campaigns can create conflicts of interestWhat insurers need to consider under CoFI and Fair Conduct ProgrammesWhere the FMA is seeing gaps in incentive design, governance and oversightListen now for a practical overview.Read the full paper here: Insurer benefits and campaigns insights

Feeling unsure about your KiwiSaver right now? You’re not alone.With rising costs and market ups and downs, many New Zealanders are asking whether they should be making changes to their KiwiSaver.In this episode of Jess Learns to Invest, Jess speaks with John Duffy from Consumer NZ about what’s happening  and what to think about before making decisions.In this episode, we cover:✅ Why KiwiSaver can feel harder to prioritise during cost of living pressure ✅ What it means when your balance drops ✅ Why reacting in the moment can lock in losses ✅ Why it pays to know what fund you’re in ✅ How fees impact your savings over time ✅ What to watch out for with financial advice online ✅ Where to go for trusted KiwiSaver informationIf you’ve ever wondered whether you should make changes to your KiwiSaver, or just want to feel more confident about your long-term savings, this episode is a great place to start. 

We’ve released updated guidance to help issuers clearly and accurately disclose sustainability‑related characteristics of financial products.As products are increasingly marketed as ethical, sustainable, ESG or green, good disclosure matters. Our updated Sustainability‑related disclosure guidance:✔ explains how existing fair‑dealing and disclosure obligations apply ✔ outlines what good practice looks like ✔ is built around four core principles — clarity, substantiation, consistency and effective management of third‑party involvement ✔ brings earlier guidance together in one placeListen to the latest 5 Minutes with the FMA podcast to hear Acting Head of Specialist Supervision, Marcus McMillan, talk through what’s changed and why it matters.Find the guidance and listen to the podcast on our website: https://www.fma.govt.nz/assets/Guidance/Sustainability-related-disclosure-guidance.pdf 

Kiwis are increasingly turning to social media for money advice from finfluencers and online forums to podcasts. Some of this content can be genuinely informative, but other posts can be misleading, heavily promotional, or even linked to scams.In this episode of our Occasional Conversation podcast, Jess is joined by Anna Godfrey from our Financial Advice team and Elizabeth Asmerom Asfaha from our Regulatory Services team to unpack what to look out for when engaging with money content online.They discuss:What “finfluencers” are and why their content is so popularThe difference between general financial information and regulated financial adviceCommon red flags, including guaranteed returns, pressure tactics and flashy lifestyle marketingWhat to look for in paid promotions, referral links and sponsored contentSimple steps you can take before acting on money advice they see onlineThe risks for financial advisers and firms using finfluencers or influencer-style contentIf you come across money content that feels high pressure, too good to be true, or unclear about incentives, slow down and do your research.Find our finfluencer guidance here: Staying Safe with Online Money Advice | Financial Markets Authority

Financial advice can make a real difference to people’s financial wellbeing but not everyone in New Zealand is able to access it.In this episode of 5 mins with the FMA, we talk with Romil Ghelani, Head of Financial Advice at the FMA, about the findings from the FMA’s Access to Financial Advice Review.The review looks at:How many New Zealanders are accessing financial adviceWhy some groups are under‑representedWhat consumers think financial advice is — and what stops them from using itThe role of technology and innovation, including AIOpportunities for the sector to improve access and outcomesThe review is based on research with 1,000 New Zealanders and extensive engagement with the financial advice industry. It forms the basis for the FMA’s ongoing conversations with industry about how we can collectively improve access to financial advice for New Zealanders.Find the full reports and more information on our website: https://www.fma.govt.nz/library/reports-and-papers/access-to-financial-advice-in-new-zealand/

In this episode of Jess Learns to Invest, Jess sits down with Tom Hartmann, Personal Finance Lead at Sorted, to unpack one of the most important concepts in investing: portfolio diversification.Together, they break down what a portfolio actually is, why diversification matters, and how spreading your investments across different assets, industries and regions can help manage risk over time. They also explore how diversification works inside managed funds and KiwiSaver, the difference between diversification and asset allocation, and why “set and forget” doesn’t mean “never check”.In this episode, you’ll learn:• What a portfolio is (and why it’s more than just one investment)• What diversification really means and how it helps manage risk• The difference between diversification and asset allocation• How managed funds and KiwiSaver can help you diversify from day one• Why rebalancing matters and how fund managers do it for you• Common diversification mistakes and how to avoid them• Why fees matter over the long term🎧 Jess Learns to Invest is a podcast helping New Zealanders understand investing in a clear, practical way.🔗 Find tools mentioned in this episode at sorted.org.nzThis podcast is general information only and is not financial advice.