Category | Services

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Bank Push to Remove Trails Will Not Include Life Insurance

Efforts by Australia’s banks to end grandfathered payments and trail commission for financial advisers will not include life insurance commissions. (more…)

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3 · October 16, 2018 in Associations, Compliance & Regulation, Products, Remuneration, Services  

BT Waives Policy Fee And Enhances Application Software

BT has announced a series of enhancements to its quote and application software, and will waive policy fees on lump sum cover for the next two months, as part of the launch of the changes. (more…)

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1 · October 16, 2018 in Company News, Products, Services, Technology  

NAB Sets Advice Remediation Costs at $314 Million

NAB has become the third bank, in as many weeks, to release figures outlining the expected costs of remediation related to its financial advice business, and will set aside $314 million for the task. (more…)

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2 · October 16, 2018 in Company News, Compliance & Regulation, Products, Services  
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ANZ Earmarks $374 Million for Advice Remediation

ANZ will set aside $374 million to compensate customers who received inappropriate advice or for services not provided, including for advice provided by the advice businesses it sold to IOOF. (more…)

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0 · October 8, 2018 in Company News, Dealer Groups, Products, Services  
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ClearView Pushes Back on Anti-Hawking Claims

Clearview has pushed back on claims that it breached anti-hawking provisions more than 300,000 times stating that figure was only the number of calls made by its direct life insurance business. (more…)

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0 · October 6, 2018 in Company News, Compliance & Regulation, Products, Services  
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Zurich Revamps Adviser Portal With New Underwriting Engine

Zurich Australia has launched a new adviser portal which has incorporated the quoting, application and client management facilities of its predecessor into a single online tool. (more…)

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0 · October 5, 2018 in Products, Services, Technology  
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MetLife Australia to Re-Enter Retail With Modular Products

MetLife Australia will mark its re-entrance into the retail advised life insurance market with the release of modular life insurance policies. (more…)

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0 · October 2, 2018 in Products, Services  
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Royal Commission Does Not Understand Risk Advice – AFA

The AFA has claimed the Financial Services Royal Commission has not fully understood the nature of financial advice, nor the role of commissions in the remuneration of adviser, and will push to improve the latter’s view of these issues. (more…)

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2 · October 2, 2018 in Associations, Claims, Compliance & Regulation, Products, Remuneration, Services  

Westpac Flags $235 Million For Advice Remediation

The Westpac Bank will spend around $235 million in remediation to clients impacted by fees-for-no-services or inadequate financial advice provided by advisers within the bank’s licensees. (more…)

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0 · September 29, 2018 in Company News, Products, Remuneration, Services  
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Royal Commission Condemns Greed and Inaction Behind Industry Misconduct

The Banking Royal Commission has blamed greed by financial services providers and inaction by regulators for the range of issues it has uncovered during the first four rounds of hearings. (more…)

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3 · September 28, 2018 in Breaking, Compliance & Regulation, Products, Remuneration, Services