Monthly Archives: April 2018
AMP, Banks May Face Criminal Charges Over Advice Failings
AMP, and the four major banks may all face criminal charges for breaches of the Corporations Act related to their financial advice businesses, the Royal Commission into Misconduct in the Banking, Superannuation and Financial...
AMP Chair Resigns Following Royal Commission Revelations
The Chair of the Board of AMP, Catherine Brenner has resigned, effective immediately following revelations at the Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry that the company misled ASIC...
Premium Inflows Continue to Post Modest Growth
Overall life insurance risk premium inflows have grown at an annual rate of 2.6 per cent and continue to remain below the double digit growth average experienced over the previous two decades, while overall...
Award Winning Practice May Face Criminal Charges
High profile financial adviser, Sam Henderson and his business may be open to criminal charges for failing to meet best interest duty obligations, according to evidence presented to the Banking Royal Commission.
As part of...
AMP Pricing Changes
AMP has initiated a series of pricing adjustments for its AMP Elevate product series.
The changes include a 10 per cent reduction in life insurance stepped premium rates and increases to income protection and trauma...
AMP Yet to Notify Clients Over Poor Life Insurance Advice
AMP has yet to notify clients they may have received inappropriate life insurance advice as it was still reviewing the files of a number of advisers, a senior AMP executive has told the Royal...
The Future of Vertical Integration
The revelations coming out of the Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry have caused us to ask you about the future of institutional ownership of distribution in the...
Pacific Life Revamps Claims Engine
Pacific Life Re will revamp elements of its UnderwriteMe digital platform as part of new partnership with occupational rehabilitation experts, Thrive Re Consulting.
Under the partnership, Thrive Re Consulting will conduct a research to identify...
AMP Offers Apology as CEO Steps Down
AMP has offered an unreserved apology, and announced its Chief Executive Craig Meller will step down immediately, after the revelation of misconduct and lack of disclosure in its advice business at the Banking and...
News in Brief
FPA Claims Members Better Educated;
AFA Excellence in Education Award Nominations Open
FPA Claims Members Better Educated
Around 60 per cent of FPA members hold a degree qualification which is well above the industry standard...