About 43% of authorised financial advisers in New Zealand derived income from commissions in the year to last June.

The Financial Markets Authority information shows 38% received bonuses based on a mix of measures including compliance and quality, 34% were paid a fixed fee or hourly rate and 16% were paid based on volume and set targets.

The regulator’s report is based on authorised financial advisers’ annual information returns.

About 1800 authorised financial advisers were operating last financial year, with 80 joining and 110 leaving during the period.

About 36% provided life insurance advice, which was unchanged from the previous year.