03 October 2022
The Financial Planning Association and other peak bodies representing the advice profession have come out mostly in support of the Quality of Advice Review consultation paper...
03 October 2022
Life Insurance Code of Practice subscribers may not be fully reporting significant breaches after the 2021/22 year registered 33% fewer non-compliance cases, the code compliance committee says...
03 October 2022
Adviser numbers declined by 38% in the last three years, from 26,500 in 2019 to 16,671 this year, according to a report from financial services industry researcher Rainmaker Information...
03 October 2022
Financial planners say they do not support a Treasury proposal to introduce an “experienced” pathway for advisers, cautioning the recommendation may not achieve its intended aim of easing the cost of providing advice...
03 October 2022
AIA will pay a pecuniary penalty of $NZ700,000 for false and/or misleading representations it made to affected customers in New Zealand, after the insurer filed a court notice last year admitting “all the facts and causes of action alleged” in proceedings taken by the Financial Markets Authority...
03 October 2022
MLC Life has announced that its Vivo health and wellness service will be open to financial advisers to address increased reports of stress from industry professionals...
03 October 2022
NAB-owned Bank of New Zealand has completed the sale of its life insurance business to Partners Life...
03 October 2022
The Financial Planning Association says it has commissioned research to highlight the difference in quality of life between advised and unadvised Australians...
26 September 2022
Association of Financial Advisers CEO Phil Anderson provided an update on the profession last week at the peak body’s national conference, touching on adviser numbers, education requirements as well as the Quality of Advice Review...
26 September 2022
The Financial Planning Association and other members of the Joint Associations Working Group are starting research soon to determine the cost of providing advice as part of their submission to the Quality of Advice Review...
26 September 2022
A complainant who was receiving partial disability payments for depression caused by workplace bullying for more than a year until the insurer decided to stop them, citing medical information suggesting she can return to her pre-injury work capability, has lost her dispute to have the benefits reinstated...
26 September 2022
A 12-member working group that includes independent economists and academics has been established to work alongside Treasury’s ongoing review of Your Future, Your Super reforms...
26 September 2022
The Financial Services Council in New Zealand has named its award winners across seven categories in recognition of their contributions and achievements as individuals and teams...
19 September 2022
A life insurer has prevailed in a dispute over its decision to avoid a policy and deny a claim on grounds the insured “fraudulently misrepresented” his history of schizophrenia when he applied for the cover...
19 September 2022
Compensation law firm Shine Lawyers is investigating a possible class action against Aussie Home Loans for allegedly selling “unnecessary insurance” to customers who may already have had similar or better life coverage...
19 September 2022
Consumer advocate Choice is renewing its push for an “enforceable” code of conduct after flagging last week the case of a supermarket worker who was not able to claim for disability insurance benefits despite having paid the premiums for years from her super fund...
19 September 2022
The Financial Planning Association will hold its Professionals Congress from November 23-24 in Sydney, with many sessions scheduled to discuss the issues facing its members after more than two years of pandemic disruption...
19 September 2022
MetLife Australia has expanded its 360Health Virtual Care digital offering with the addition of Fitness and Recovery features...
12 September 2022
The financial services industry has broadly welcomed the tabling of legislation for the planned compensation scheme of last resort in parliament last week...
12 September 2022
The Financial Planning Association has refreshed its Professional Code after an “extensive” consultation with members...