ASIC bans ex-AMP adviser
03 July 2017
The Australian Securities and Investments Commission has permanently banned former AMP adviser David Fong for his dishonest conduct…
Life Insurance
APRA releases reinsurance contracts guidance
03 July 2017
Life insurers need approval from the Australian Prudential Regulation Authority before agreeing “reinsurance contracts that are potentially financial reinsurance contracts”, according to the regulator…
ASIC clarifies position on ‘independently owned’ tag
03 July 2017
The Australian Securities and Investments Commission has clarified its position on the use of restricted terms relating to the independence of financial advisers…
O’Dwyer headlines AFA conference
03 July 2017
Revenue and Financial Services Minister Kelly O’Dwyer will outline her vision for the financial advice profession at the Association of Financial Advisers annual conference…
BT mobile advice app proves popular
03 July 2017
Financial advisers are increasingly servicing clients away from the office, with BT Financial Group reporting use of its BT Panorama app has nearly doubled…
FPA wants advisers’ voice heard in disputes
26 June 2017
The Financial Planning Association says a single external dispute resolution body could harm third parties during a dispute…
Statements of advice must aid consumers: Kell
26 June 2017
The Australian Securities and Investments Commission says life insurance statements of advice are not a compliance tool for advisers, and should benefit consumers…
New cancer treatments cut mortality rates… at a cost
26 June 2017
New cancer treatments shape as a significant cost for life insurers, according to Gen Re Chief Medical Officer John O’Brien…
Lapses continue to fall: Dexx&r
26 June 2017
Individual lump sum life insurance lapse rates continue to fall, with research house Dexx&r reporting a 13.6% rate in the March quarter…
NZ names code of conduct working group
26 June 2017
The New Zealand Government has selected a working group to create its new code of conduct for financial advice…
ASIC bans ex-Guardian adviser for overselling
26 June 2017
A former Guardian Financial Planning adviser has been banned for seven years after persuading clients to buy multiple life insurance policies through their superannuation funds…
Canstar struggles to strike balance on funeral cover
26 June 2017
Financial comparison site Canstar says achieving adequate cover without paying very high premiums is a challenge when seeking funeral insurance products…
FPA names latest Gwen Fletcher Award winner
26 June 2017
Bronnie Abraham from Brisbane advice business Dolfinwise has won the Financial Planning Association’s Gwen Fletcher Memorial Award…
MLC names new claims chief
26 June 2017
MLC Life Insurance has appointed former AIA New Zealand head Natalie Cameron as Chief Claims Officer…
Scor announces senior appointments
26 June 2017
Scor has appointed two key staff members to its Australian life reinsurance business…
AFA manager appointed to international standards board
26 June 2017
Association of Financial Advisers GM Member Services, Partnerships and Campus Nick Hakes has been appointed Vice-Chairman of the Asia-Pacific Financial Services Association’s International Certifications & Standards Board…
RGA warns industry on disability protection losses
19 June 2017
Life insurers have lost $1.1 billion on disability income products over the past five years, based on data from the regulator, according to RGA Australia Head of Underwriting and Technical Services Meredith Barnes…
Annuities ‘mis-sold under FOFA rules’
19 June 2017
Annuities are being sold to clients with minimal advice, the Financial Planning Association warns…
APRA stats show life industry in profit
19 June 2017
Only three life insurers failed to make a profit last year, with the biggest after-tax loss of $139 million recorded by National Mutual, part of AMP…
FOFA changes slash super advice revenue: FPA
19 June 2017
Financial advisers lost 15-30% of their revenue when the ban on life insurance commissions within superannuation took effect under the Future of Financial Advice reform, according to the Financial Planning Association…