Monthly Archives: June 2018
ASIC Reveals Reason For Dover Closure as McMaster Exits Industry
ASIC has revealed the closure of Dover Financial Advisers was triggered by concerns it had around the ability of the group to comply with financial services laws, and owner and director, Terry McMaster would be...
MDRT Heading to Sydney
More than eight thousand financial advisers from around the world will be visiting Australia next year, following the announcement that the MDRT organisation will be bringing its new annual global meeting to Sydney in...
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.
The tool, Astute...
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.
In...
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...
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.
The life insurers appointed seven...
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...
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.
In its quarterly Life...
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.
Under the plan...
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.
In a note sent to advisers from ClearView Life General Manager Distribution,...