BT grabs advisers in market tussle
16 July 2012
BT Financial Group has grabbed $500 million in funds under management in three months as part of a financial planning turf war in which 14 practices formerly aligned with Commonwealth Bank-owned…
Life Insurance
Life market up 11.8%
16 July 2012
Australia’s life insurance industry is performing strongly despite signs of weakness in the general economy, with premium income rising 11.8% to $10.6 billion in the year to March 2012…
AFA wants clarity on FOFA conflict rules
16 July 2012
The Association of Financial Advisers has called for clarity about how conflict of interest rules relating to volume bonuses will be dealt with under Future of Financial Advice laws that are being applied…
MySuper insurance deductions allowed
16 July 2012
Insurance premiums can be deducted from members’ accounts by providers of the new default MySuper superannuation option that will be available from next July, according to the…
IOOF set to buy Plan B
16 July 2012
IOOF looks set to add $2.2 billion to its funds under management with the board of its latest acquisition target, Plan B, recommending shareholders accept the 60c a share offer…
Financial Planning Week looms
16 July 2012
The 12th Financial Planning Week will be staged between August 20 and 27 this year by the Financial Planning Association…
Australian life rating maintained
09 July 2012
Australia’s life insurance industry is holding its rating level while key Asia-Pacific markets have been downgraded by Standard & Poor’s as a result of weakening economic conditions and volatile…
Insurance sales move online
09 July 2012
Life insurance sales are migrating to the internet, with direct business accounting for 25% of the market in 2010/11 and expected to climb to 40% within 10 years, according to a new report by research group…
It isn’t always churn…
09 July 2012
The Financial Services Council’s proposals on preventing insurance churn could have negative consequences for clients, according to a pool of independent financial advisers…
Trans-Tasman adviser deal shouldn’t dilute standards, says AFA
09 July 2012
Recognition of qualifications that allow financial advisers to operate in both Australia and New Zealand should not be allowed to dilute standards in the Australian market, Financial Planning Association CEO…
Count appoints development executive
09 July 2012
Commonwealth Bank-owned Count Financial has its first Head of Practice Development with the appointment of Judy Clark to the role last week…
AFS appoints regional manager, still seeking CEO
09 July 2012
Dealer group Australian Financial Services Group has appointed Danielle Nugent as Regional Manager for Victoria and Tasmania…
Advisers get trans-Tasman recognition
02 July 2012
Qualified financial advisers will be able to operate on both sides of the Tasman from next Monday following the completion of a deal between the Australian Securities and Investments Commission…
FOFA could leave consumers unprotected
02 July 2012
Financial planners’ clients may be unprotected by industry-specific consumer laws for a year following the partial adoption of the Future of Financial Advice regulatory system this week, according to…
Advisers resist FSC measures on churn
02 July 2012
Most financial advisers oppose the Financial Services Council’s proposed measures to prevent insurance “churn”, a Guardian Advice survey shows…
Low awareness of TPD in super
02 July 2012
Australians risk missing out on millions of dollars of potential benefits due to a lack of awareness that total and permanent disability cover is a feature of most superannuation accounts…
MySuper legislation still before Parliament
02 July 2012
Some efficiency measures that create common standards for processing and reporting superannuation transactions are now law after passing the Senate before Parliament went into its six-week winter…
Advisers want platform choice
02 July 2012
Financial services licensees have been warned they will need to offer advisers choice of platform on approved product lists in order to attract and retain advisers…
AIA boosts rehab team
02 July 2012
AIA Australia has doubled its specialist rehabilitation team to six to boost its effort on return-to-work education for employees who have suffered illness or injury…
FOFA implementation: confusion reigns
25 June 2012
The passing of the Future of Financial Advice legislation by the Senate has not cleared up the confusion surrounding its implementation and timing…