Monthly Archives: December 2018
Greater Recognition of Experience Needed in Education Model – AFA
The education pathways for existing advisers proposed by FASEA need to take into greater consideration the experience of older advisers as well as any Continuing Professional Development (CPD) they have attained, according to the...
AIA Australia Extends Fee Waiver and Lump Sum Discount Campaigns
AIA Australia will extend two adviser campaigns, offering a policy fee waiver and initial lump sum discount, by a further three months to the end of March 2019.
The life insurer will extend its ‘Take...
Landmark Joint Code Monitoring Initiative Announced
In what has been described as a 'defining moment' for the financial advice profession in Australia, six major professional associations have announced the establishment of a joint code monitoring cooperation agreement.
A joint release this...
Latest Poll – Life Insurance Framework Update
As the life insurance industry forges head-long into uncharted territory next year, we'd like to know where you stand after twelve months into the three-year Life Insurance Framework reform transition period.
Is your advice business...
ASIC Seeks Court Order Over AMP Fee Documents
ASIC has taken legal action against a major law firm which has refused to hand over documents relating to the regulator’s investigation into fees for no service (FFNS) conduct carried out by AMP.
The regulator...
Advisers Will Have Limited Feedback on Exam Performance
Financial advisers will be given three hours to answer 70 questions in the proposed FASEA Adviser Exam but will only be provided with limited feedback on their answers if they fail.
Advisers will also be...
AMP Life Announces Closing Date for New Business
AMP Life has confirmed the closing date for new business into its AMP Elevate range but has indicated it will continue to accept new applications from advice clients who pay premiums via one of...
Associations Must Apply For Designation Accreditation – FASEA
The Financial Adviser Standards and Ethics Authority (FASEA) has invited industry associations to apply for accreditation of their professional designations so advisers can gain credits for the recognition of prior learning.
In a short statement...
NEOS Introduces Online Alteration Capability
NEOS Life has launched an online alteration capability to its services and in its first phase will provide the ability for advisers to transfer the ownership of an existing policy inside, or outside of superannuation,...
AFA Questions FASEA View of Advisers
FASEA’s view of financial advisers has been questioned by the AFA which has asked the education body why new Continuing Professional Development (CPD) standards have ethics training occupying nearly twice the time allocated to...