Sunday, May 27, 2018

AMP Royal Commission Latest

AMP has rejected claims that it may have breached the Australian Corporations Act in its handling of an independent report into ‘fee for no service’ practices within its financial advice business, and that breaches...

Soft Commissions Continue to Fall Among AFAs

The percentage of AFAs who said they received ‘soft commissions’ continues to fall, according to the Financial Markets Authority’s (FMA) latest statistical snapshot on AFAs in New Zealand. The report found that commission and bonus...

AMP Delays Decision on NZ Business

AMP is yet to decide the future of its New Zealand operations, AMP Interim Executive Chairman, Mike Wilkins’, indicated at its AGM held last week. Wilkins said, “…whilst we continue to progress the portfolio review, we...

New CEO Announced For Financial Advice New Zealand 

Financial Advice New Zealand has revealed its new Chief Executive. Katrina Shanks will lead the new association, commencing her role on 5 June 2018. Financial Advice New Zealand Chair, Sue Brown, said most importantly, they searched...

Poll

Advisers Favour ‘Critical Illness’ Terminology

The results from our latest poll indicate the majority of advisers favour a move that would see the term 'Critical Illness Insurance' adopted across client conversations and products in preference to 'Trauma Insurance'. As we...

Insurtech – Friend or Foe to Advisers?

Insurance is experiencing a technological revolution throughout its entire value chain, says FinTechNZ General Manager, James Brown. Insurtech refers to types of new technology that are disrupting the insurance industry. Brown says insurtech can impact many...

Blockchain to Speed up Adviser-Insurer Processes

ANZ and IBM have announced they are developing a blockchain solution for the insurance industry, in conjunction with Suncorp New Zealand. The solution aims to speed up and increase transparency for data transfer and payment...

Three More Resign at AMP

AMP has announced a further three resignations from its Board. Holly Kramer will step down ahead of AMP's Annual General Meeting. Vanessa Wallace will also resign at this time and has also stepped down as Chairman...

Advisers to Have Stronger Say in Draft Code 

Financial Advice New Zealand has revealed it is forming an adviser panel in association with the Code Working Group (CWG), to ensure the adviser’s voice is heard as the development of the draft Code...

News in Brief

National Advisory Group Expands AMP Appoints New Chairman National Advisory Group Expands  Plus4 Insurance Solutions has expanded its presence in Southland with two new advisers joining the Group, bringing the total to 44 across 18...