Labor May Ban All Risk Commissions

The Federal Opposition has confirmed it would ban all risk commissions if ASIC’s 2021 review of the impact of the Life Insurance Framework reforms offers no clear justification for retaining them. (more…)

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16 · February 25, 2019 in Compliance & Regulation, Remuneration  

ASIC Bans Insurance Broker

ASIC has permanently banned a general insurance broker for dishonest conduct. (more…)

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· February 25, 2019 in Compliance & Regulation  

Scale Remains Key Factor in Advice Business Profitability

Scale continues to be a critical benchmark in determining the ongoing profitability of Australian advice practices, according to Business Health. (more…)

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0 · February 21, 2019 in General  

ASIC Response to Royal Commission – Grandfathering and Risk Commissions

ASIC has has released an update on its intentions to implement the recommendations of the Banking Royal Commission, which includes its approach to grandfathered investment and superannuation product commissions and to life insurance commissions. (more…)

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1 · February 19, 2019 in Compliance & Regulation, Remuneration  

Level Commission Poll Results

Advisers are divided on whether they think their business will remain viable if forced into a level commission remuneration model for life insurance advice after 2021. (more…)

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3 · February 19, 2019 in Compliance & Regulation, Polls, Remuneration  

Post Royal Commission Risk Advice – What Needs to Change?

Passionate risk advice specialist, consultant and author, Chris Unwin**, has penned a brief article on what he thinks needs to change for the world of risk advice following the release of the Royal Commission recommendations. (more…)

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3 · February 19, 2019 in General  

More Insurers Step up for Flood, Bushfire Victims

AIA Australia and TAL have both stepped up to the plate to offer premium waiver support for Queensland and Tasmanian drought, flood and bushfire victims. (more…)

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0 · February 19, 2019 in Company News, General  

Errors, Misunderstandings, Bias in Royal Commission Recommendations on Risk Commissions – AFA

The Association of Financial Advisers has released a scathing analysis of the Banking Royal Commission’s recommendations on the future of life insurance commissions, arguing that Commissioner Hayne’s risk commission recommendations contain errors, misunderstandings and are based on an ideological bias. (more…)

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13 · February 19, 2019 in Compliance & Regulation, Remuneration  

PPS Mutual Expands Team

Niche provider, PPS Mutual has announced the appointment of Shadia Kouzma to the new role of State Manager Victoria and Tasmania. (more…)

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0 · February 18, 2019 in Appointments  

Level Commissions – Really?

Our latest poll has been driven by the Government’s statement that it will mandate level commissions for life insurance advice if ASIC’s 2021 review finds that the Life Insurance Framework remuneration reforms have not had the desired impact on ‘aligning the interests of advisers and consumers’. (more…)

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26 · February 12, 2019 in Compliance & Regulation, Polls, Remuneration