Wednesday, November 14, 2018

Poll

Latest Poll – Consistency of Adviser Standards

Do you agree with Financial Advice NZ in its call for there to be a single minimum qualification for all Kiwis delivering financial advice? This poll stems from the release of the draft Code of...

FMA Calls For More Power Over Bank Conduct 

The Financial Markets Authority has called on the Government to address certain ‘gaps’ in the framework for regulation of banks. In the recently released report on its joint review with the Reserve Bank into bank...

Minimum Qualification For All – Financial Advice New Zealand

Financial Advice New Zealand has called for one minimum qualification, or its equivalent, for all who provide regulated financial advice. The call was made in the association's submission on the Draft Code of Professional Conduct,...

Adviser Associations Band Together on Changes to Draft Code

Five financial adviser associations have jointly submitted their suggestions for changes to the Draft Code of Professional Conduct. The Association, Financial Advice New Zealand, IBANZ, SIFA, and Triple A collectively stated three main changes to...

Partners Life Reports Record Growth, Expands Team

Partners Life has reported that since 1 April 2018, it has paid more claims and received more new business than any other year since it was established. The insurer stated in an adviser update that...

Removal of Commissions in Australia Would Damage Insurance System

The complete removal of life insurance commissions in Australia would inflict significant damage on the life insurance system that would be difficult to reverse, the Association of Financial Advisers (AFA) has claimed. The Association made the...

Aussie Life Insurers Place Halt on Use of Genetic Tests

Life insurers in Australia will introduce a five-year moratorium on the use of genetic test results within life insurance applications but will maintain limits on cover where the halt will apply. The moratorium was announced...

Former PAA Boss CEO Announcement

Former Professional Advisers Association CEO, Rod Severn, has been announced as the incoming Chief Executive Officer for the Professional IQ College (PIQ), commencing in early 2019. PIQ is New Zealand’s only industry owned not-for-profit NZQA...

New Process Sees Early Resolution of Consumer Complaints – FDRS 

Financial Dispute Resolution Service has reported that 99 percent of its complaint enquiries in 2017/18 were closed through its new early resolution process. Earlier resolution of complaints is beneficial for both FDRS members and their customers. Although...

Poll

Poll Results – Offshore Conferences

The results of our latest poll are in and it seems the majority of advisers agree that life companies should no longer offer off-shore conference incentives. As we go to press, 56 percent of those...