Podcast News Wrap For 29 September 2020


Free insurance

AIA New Zealand is offering free life insurance policies in a promotion aimed at encouraging customers to talk about insurance. Customers who take out an eligible policy by 28 February 2021, will be able to gift one AIA Everyday – Life cover to someone they know. Each free policy will offer $50,000 of cover for six months.

Compliance Refinery

Steve Burgess, CEO of the Compliance Refinery, has worked with financial adviser businesses for more than 15 years and in a special opinion column for RiskInfoNZ covers off the various stages advisers should now be at as they prepare for the incoming regime. He says advisers should either be in a FAP, creating their own FAP, or be preparing to exit the industry.

Poll result

The issue of managing conflicts of interest appear to be well in hand among most of those who have voted in our current poll. Last week we asked if you have any concerns about meeting your future conflict of interest obligations. The results so far show that 85% of you have no concerns, 12% are concerned and 3% are not sure.

The Adviser Platform

The Adviser Platform has launched a training and development academy to help support business owners recruiting new advisers. Ryan Edwards, the company’s Managing Director, says his academy – which will welcome its first intake in February next year – will help firms wanting to take the next step and bring on new advisers.

Suncorp New Zealand

Suncorp New Zealand has appointed Grant Willis to the newly-established Head of Life role. Willis, who was previously the firm’s Executive Manager – Life, will oversee the core functions of Asteron Life, including sales, operations, product, pricing, claims and client servicing.

Partners Life

Partners Life is running a three-day online training course for advisers who have worked in the industry for less than 24 months on October 19, 20 and 21. Advisers will need the approval of a Partners Life agency to take part.

Financial Markets Authority

A Financial Markets Authority (FMA) report on its supervision activities over the past 18 months says large parts of the financial services sector are working hard to meet its expectations, but expects to see more widespread improvements to governance and compliance.

Rob Everett, the FMA’s CEO, says some of the issues identified in its monitoring are concerning and anticipates taking action where deficiencies are not remedied appropriately or in a timely manner.