Tag Archives | feature

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Fintech Offers Advisers One Hour Risk SoA

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…)

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0 · June 29, 2018 in Products, Services, Technology  
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ASIC Commences Legal Action Against AMP Over Life Insurance ‘Rewriting’

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…)

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6 · June 27, 2018 in Claims, Compliance & Regulation, Products, Remuneration  
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Dover Identified as High-Risk Before Closure

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…)

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7 · June 26, 2018 in Dealer Groups  
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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…)

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0 · June 26, 2018 in Company News, Products, Services  
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Commonwealth Bank to Demerge Advice Businesses

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…)

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0 · June 25, 2018 in Company News, Dealer Groups, Services  
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BTFG to Remove Grandfathered Payments

BT Financial Group (BTFG) has removed almost all forms of grandfathered payments paid to salaried advisers operating under the Westpac/BT advice channels. (more…)

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4 · June 20, 2018 in Company News, Dealer Groups, Remuneration  
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NEOS Life Opens Its Doors

New kid on the block, NEOS Life, has opened its doors to the Australian retail life insurance sector. (more…)

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14 · June 19, 2018 in Company News, General  
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Dover Closure Highlights Licensing Bias Against Advisers

The rapid closure of Dover Financial Advisers has highlighted how the current financial advice licensing regime favours institutions ahead of advisers and clients, an industry consultant has claimed. (more…)

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8 · June 19, 2018 in Compliance & Regulation, Dealer Groups  
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PJC Told Insurer-Funded Rehab Payments Would Increase Trust

Specialist claims management group, AFRM Claims Advocacy (ACA) has thrown its support behind calls for life insurers to be allowed to fund rehabilitation services, claiming it will improve consumer trust in the sector. (more…)

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1 · June 19, 2018 in Associations, Claims, Compliance & Regulation, Services  
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ASIC Begins Court Proceedings Against Westpac Over Poor Advice

ASIC has begun court proceedings against Westpac, alleging that one of its former financial advisers breached best interest duties and provided inappropriate advice. (more…)

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0 · June 15, 2018 in Company News, Compliance & Regulation, Dealer Groups, Services