- Zurich Added to HUB24;
- Findex Moves Ahead with Latest Acquisition;
- TASA Latest
Zurich Added to HUB24
Platform provider HUB24 has appointed Zurich as its third individual insurance provider.
Zurich will sit alongside TAL and AIA as the three risk offers available through the platform.
HUB24 CEO, Andrew Alcock, said it was important that advisers and clients have a choice of insurers, given the significant price and feature differences of the products.
“Modern platforms like HUB24 are maturing into broader structures that are committed to providing more choice for advisers. Advisers have always had a choice of insurer for their clients outside of platforms and now seek the same choice for their clients within platforms to take advantage of an end-to-end solution. Typically, platform insurance offers have been limited to the ‘house brand’ denying clients an efficient solution with real choice. Advisers bring their own risk expertise to assist clients, to give them the best options that suit their personal needs,” Mr Alcock said.
“Like our other insurers, Zurich is making a solid commitment to working in partnership with us and dealer groups to provide exceptional service to our advisers and their clients,” he added.
Findex Moves Ahead with Latest Acquisition
Crowe Horwath has agreed to a merger with Findex.
The merger, initially proposed in August 2014 (see: Dealer Group Acquisition News) has been unanimously recommended by the Crowe Horwath Board. It follows the takeover of high net-worth dealer group, Centric Wealth, earlier this year.
Crowe Horwath Chairman, Richard Grellman, said: “After careful consideration, the Board has unanimously concluded that the proposal from Findex is a compelling value proposition offering Crowe Horwath shareholders a significant premium to the market price and fair value.
“The proposed transaction should further strengthen the level of service to our clients and opportunities for our staff.”
Findex CEO, Spiro Paule, added: “Findex has a long-term strategy of growth through acquisition of quality businesses. We believe the Crowe Horwath businesses in Australia and New Zealand are a natural fit to the Findex stable because of the synergies between accounting practices, financial advice and financial services – a mix in which we have considerable experience.”
Mr Paule said the Crowe Horwath brand would be maintained under the merger.
TASA Latest
The Tax Practitioners Board (TPB) is currently seeking feedback on two more exposure drafts on the rules relating to tax (financial) advisers.
The first exposure draft explains the ‘sufficient number requirement’ which will need to be met by partnerships and companies seeking registration, or renewal of registration, as a (tax) financial adviser under the standard option from 1 January 2016.
The TPB will consider whether the partnership or company has an appropriate number of registered individual tax agents and/or tax (financial) advisers to provide tax (financial) advice services to a competent standard and to carry out supervisory arrangements.
The second exposure draft will assist entities to determine what constitutes a fee or other reward for tax (financial) advisers. From 1 January 2016, any entity providing tax (financial) advice services for a fee or other reward will need to be registered with the TPB.
Submissions close on 24 October 2014.
