Monthly Archives: November 2019
FPA Releases Evolution of Advice Discussion Paper
The Financial Planning Association of Australia has released a new discussion paper on the evolution of advice over the next five years and opened consultation on its proposed new policy platform, which it expects...
‘Breaking Paper’ With Future Digital SoA – FPA
Digital Statements of Advice are key to improving the advice experience, says Financial Planning Association of Australia CEO, Dante De Gori, following the release of research findings conducted by its Future of the Statement...
Decline in Life Insurance Industry Performance Continues
Australia’s life insurance industry’s performance continues to decline, according to the Australian Prudential Regulation Authority’s latest Quarterly Life Insurance Performance Statistics publication for the September 2019 quarter.
Industry net profit after tax (NPAT) was $0.2...
Life Industry Sustainability – The ClearView View
Riskinfo thanks ClearView Wealth and its MD Simon Swanson for permission to reproduce an open letter penned by Simon to the adviser community.
Simon questions the merits of introductory premium discounts on new business cases...
WA Adviser Banned for Five Years
ASIC has banned financial adviser, Peter Jianchao Xu, from providing financial services for five years following a surveillance of Xu’s advice.
The Perth adviser was an authorised representative of Westpac Banking Corporation, Commonwealth Financial Planning...
Court Finds Dover Client Protection Policy False, Misleading or Deceptive
The Federal Court of Australia has found Dover Financial Advisers engaged in false, misleading or deceptive conduct.
In a release, ASIC stated the conduct in question involved publishing false, misleading or deceptive statements in a...
ASIC to Take ‘Facilitative Approach’ to Adviser Code Standard 3
In what has been welcomed as a victory for common sense, ASIC has announced it will take a facilitative approach to compliance with the controversial Standard 3 in FASEA's proposed Adviser Code of Ethics...
OneCare Update
OnePath has broadened access to its OneCare Extended Terminal Medical Condition feature.
In its latest update to advisers, the insurer has noted this feature, which pays the OneCare Life Cover sum insured when the life...
APRA Proposes Changes to Improve Insurance Outcomes for Superannuation Members
The Australian Prudential Regulation Authority has released for consultation proposed revisions to Prudential Standard SPS 250 Insurance in Superannuation.
In a release earlier this week, APRA stated that the proposed changes are aimed at improving...
AFA Calls Out FASEA ‘Inconsistencies’ in Recognition of Prior Learning for Advisers
The AFA has called out what it says are inconsistencies in FASEA's approach towards recognition of prior learning applicable for existing advisers.
In the most recent policy update sent to its members last week, the...