June 29, 2018
Advisers will be able to produce a life insurance Statement of Advice (SoA) in around an hour, according to fintech provide AstuteWheel, which has launched a new digital life insurance advice tool. (more…)
ASIC Commences Legal Action Against AMP Over Life Insurance ‘Rewriting’
June 27, 2018
ASIC has begun court proceedings against AMP Financial Planning (AMPFP) alleging some of its advisers engaged in conduct to rewrite life-insurance business to receive higher commissions, and so breached their best interest duty obligations. (more…)
Dover Identified as High-Risk Before Closure
June 26, 2018
Dover Financial Advice was identified as a high-risk licensee earlier this year due to the number of its advisers who had switched between licensees and their low education levels compared to new standards, according to industry research group, Adviser Ratings. (more…)
MLC Life Retention Strategy Reduces Lapse Rate
MLC Life Insurance has reduced the level of lapse rates by a quarter for a cohort of financial advisers, following the introduction of specialised client retention managers a year ago. (more…)
ANZ Extends Large Case Discount Offer
ANZ has extended its OneCare Large Case Discount Service for a further three months and will offer a lifetime 10 per cent premium discount to new applications for life cover until the end of September this year. (more…)
Individual Lump Sum Sales Continue to Fall
The sales of individual lump sum new life insurance business have slumped to their lowest levels in a year and a half, according to new data released by research house, DEXX&R. (more…)
Commonwealth Bank to Demerge Advice Businesses
June 25, 2018
The Commonwealth Bank (CBA) has announced plans to demerge its wealth management business, including its third party financial advice licensees, which will operate under a separate name and listing on the ASX. (more…)
ClearView Updates Electronic Application Tool
ClearView Life has updated its LifeSolutions e-App and improved the classifications for people who do not have a full time job or income. (more…)
TAL Launches Spinal Health Education Initiative
TAL has launched an underwriting education initiative to assist advisers and their clients better understand the process around assessing musculoskeletal health conditions in the spine. (more…)
News in Brief
June 22, 2018
Industry Bodies Name New CEOs Former MLC GM to Head Boutique Advice Group New AMP Chair Steps Into Role (more…)
