Monthly Archives: May 2018
AMP Points Finger at Advisers
AMP has used two public statements within a single day to lay the blame for failures within its advice businesses at the feet of advisers, claiming its licensees were not to blame.
The company used...
Mental Health Treatment Should be Mainstream
The life insurance sector must continue to develop its focus on mental health issues to the extent it is treated similarly to other insurable conditions, according to ANZ Wealth Head of Mental Health and...
News in Brief
Labor Names New Shadow Minister for Financial Services
AFA Awards Nominations Open
Labor Names New Shadow Minister for Financial Services
The Federal Opposition has named Shadow Treasurer, Chris Bowen as Acting Shadow Minister for Small...
ANZ Receives First Proceeds from Life Insurance Sale
ANZ has received the first tranche of proceeds from the sale of its life insurance business to Zurich receiving around $1 billion of reinsurance proceeds.
The proceeds make up part of the $2.85 billion dollar...
AFA Restricts Advice Practice From Promoting Award
The AFA has taken steps to prevent advice practice Henderson Maxwell promoting itself as a winner of one of the Association’s flagship awards, following concerns raised at the Royal Commission about advice provided by...
ASIC Moves to Stop Adviser Providing Services
ASIC has taken legal action to prevent an adviser, whom it alleges submitted illegitimate life insurance applications to receive commissions, from providing any further advice.
The regulator stated it had commenced proceedings in the Federal...
Group Life to Become Opt-In for All Younger Members
All group life insurance will be offered on an opt-in basis for members under the age of 25 as part of new Federal Budget measures to prevent the erosion of superannuation balances by insurance...
Latest Poll – Two Strikes and You’re Out
As the fallout from the Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry continues, our latest poll references ANZ's announcement this week that it will terminate the contracts of advisers...
Zurich Offers Lifestyle Program to Retail Clients
Zurich has rolled out a mobile app-based lifestyle program to retail life insurance policyholders which provides discounts on a range of lifestyle and entertainment offers.
Membership to the new program, called ‘Loving Life’, will be...
Royal Commission Triggers Interest From NZ Regulators
The Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry appears to be having a direct flow-on effect into the New Zealand financial advice sector.
Rob Everett, Chief Executive of the NZ...