Centrepoint takes strides towards new pricing model
01 July 2019
Centrepoint Alliance has persuaded 200 of its 226 adviser businesses to adopt a new pricing model before grandfathered life insurance commissions are removed in two years...
Life Insurance
ASIC bans adviser over dodgy coverage advice
01 July 2019
A Queensland adviser has been banned for five years for pushing clients into more expensive life insurance policies than they needed...
Suncorp faces class action over advice fees
01 July 2019
A class action has been filed against Suncorp’s superannuation trustees over conflicted advice fees charged to super customers over the past six years...
Planners bend under post-Hayne compliance burden
01 July 2019
About 70% of financial planners cite the compliance burden as the leading challenge facing their profession after last year’s royal commission on financial sector misconduct, an Investment Trends survey has found...
AFA and MetLife fund women’s grant program
01 July 2019
MetLife and the Association of Financial Advisers are launching a grant program for female financial advisers to advance their careers...
Industry profit plummets
24 June 2019
The life insurance industry made a total net profit of $924 million last year, a sharp drop from $2.38 billion in 2017, according to Australian Prudential Regulation Authority institution-level statistics...
Wealth managers stall action on inactive super accounts
24 June 2019
Some wealth managers drawing fees from superannuation life insurance policies on inactive accounts are disputing regulatory guidance from the Australian Prudential Regulation Authority that such accounts need to be either confirmed or cancelled by members...
MetLife fills new senior customer role
24 June 2019
MetLife Australia has created a new Chief Customer and Marketing Officer position, promoting chief distribution officer Chesne Stafford to the role...
AFA books keynote speakers
24 June 2019
Former foreign minister Julie Bishop and Thailand cave rescuer Richard Harris will headline the Association of Financial Advisers’ annual conference in August...
Zurich develops wellness app
24 June 2019
Zurich has launched a wellness app to reward life insurance customers who improve and maintain physical and mental wellbeing...
AFA, FPA join forces to map industry’s future
17 June 2019
The Financial Planning Association and the Association of Financial Advisers have formed a joint life insurance taskforce...
Industry steps up super reform awareness drive
17 June 2019
The Financial Services Council and the Association of Superannuation Funds of Australia have launched a joint campaign to encourage people to check their group life cover arrangements ahead of legislative changes...
Challenger feels effects of adviser turbulence
17 June 2019
Disruption in the financial advice market has led to a drop in Challenger’s annuity sales from $1.17 billion to $662 million over six months...
CBA to part with advice arm
17 June 2019
Commonwealth is the latest bank to offload its financial advice arm, selling Count Financial to CountPlus for $2.5 million...
Fidelity appoints new COO
17 June 2019
Fidelity Life New Zealand has recruited Gallagher Bassett’s EGM Claims Katherine Johnson to be its new COO...
Authority green-lights Kaplan diploma
17 June 2019
Kaplan Professional’s graduate diploma of financial planning and other bridging courses have been approved by the Financial Adviser Standards and Ethics Authority...
Adviser slams ‘hijacked’ commissions debate
11 June 2019
The Federal Government and corporate regulator’s “obsession” with conflicted remuneration is blinding them to the need to ensure consumers have access to financial advice, a leading adviser warns…
MLC backdates new medical definitions
11 June 2019
MLC policyholders can claim for past heart attacks or arthritis after the insurer retrospectively updated old definitions…
Canstar reveals smoking gap, names direct winners
11 June 2019
Smokers can pay hundreds of dollars more a month than non-smokers for $500,000 life insurance policies, according to Canstar research…
Legacy systems hamper customer satisfaction drive
11 June 2019
Life insurers must clean up the legacy systems plaguing their administration if they want to provide a better customer experience, a financial consultant has warned…