The Government has appointed a member of the Securities Commission to be the first Commissioner for Financial Advisers.
Annabel Cotton will take up the position for a year, rather than the normal five years, because of other commitments.
Commerce Minister Simon Power says one of her first tasks will be to start developing a code that sets how financial advisers should behave.
He says the code will set out minimum standards of competence, knowledge and skills, ethical behaviour, client care, and professional training requirements.
Ms Cotton is a qualified investment analyst and accountant, and has been a member of the Securities Commission for seven years.
She is a director of Carmel Fisher's Kingfish, Barramundi, and Marlin Global investment concerns, and is on the board of Genesis Power.