Category | Associations

Commission Concerns Overlook LIF and Best Interest Duty

The AFA has written to members informing them that large figures quoted at the Banking Royal Commission related to life insurance commissions overlooked legal obligations for advisers and equate to only $65,000 a year per adviser. (more…)

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0 · September 25, 2018 in Associations, Products, Remuneration, Services  

Insurers Report Code Breaches But No Sanctions

The body tasked with enforcing the FSC’s Life Insurance Code of Practice (LICP) made no sanctions against any life insurer in its first year, despite being aware of 25 breaches of the Code and receiving more than 700 breach allegation referrals. (more…)

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0 · September 25, 2018 in Associations, Claims, Compliance & Regulation, Products, Services  

FSC Head Unclear on Breakdown of Adviser Commissions

The head of the Financial Services Council has struggled to clearly articulate the relationship between financial advisers and life insurers as well as the role of commissions in the purchase of life insurance products. (more…)

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0 · September 24, 2018 in Associations, Products, Remuneration, Services  

Ross Vanderwolf Takes MDRT Reins

Queensland adviser, Ross Vanderwolf, has commenced his one-year term as the global President of the Million Dollar Round Table organisation. (more…)

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0 · September 13, 2018 in Associations, General  

AFA Appoints Alliances Manager

The AFA has recruited a former Suncorp executive manager to the oversee the development of alliances with business partners that benefit members of the Association. (more…)

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0 · September 7, 2018 in Appointments, Associations, Conferences and Events, Products, Services  

AFA Announces Award Finalists

The AFA has announced the finalists for its Adviser of the Year and the Practice of the Year Awards with three states featured highly among those named. The Association also released the names of the finalists for its Rising Star of the Year Award and will announce the winners of all its annual awards at the AFA 2018 […]

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0 · September 3, 2018 in Associations, Conferences and Events, Services  

Government Renews Push for Financial Literacy

The Federal Government has renewed its commitment to greater financial literacy with the launch of the latest stage of its financial capability strategy. (more…)

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1 · August 21, 2018 in Associations, General, Services  

AFA Opens Nominations For Six Board Positions

The AFA will ask it members to choose six new directors for its Board with nominations open for the position of President, Vice-President and Director in four states. (more…)

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0 · August 14, 2018 in Associations, Conferences and Events  

O’Dwyer to Relay Exam Concerns to FASEA

The Minister for Revenue and Financial Services, Kelly O’Dwyer will relay adviser concerns about the lack of details in the National Exam proposed by FASEA, after the issues was raised in a meeting with the AFA. (more…)

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1 · August 10, 2018 in Associations, Compliance & Regulation, Training  

FSC Life Code Will Extend to Super Trustees

The Financial Services Council (FSC) will extend its mandatory Life Insurance Code of Practice (LICP) to cover superannuation trustees in a move which tackles criticism about the effectiveness of a voluntary code released an industry working group last year. (more…)

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1 · July 27, 2018 in Associations, Compliance & Regulation, Products, Services, Superannuation