FOFA disallowance vote falls in Senate
06 October 2014
Labor’s attempts to overturn the Future of Financial Advice regulations in the Senate have failed for the second time in three months…
Life Insurance
Split manufacturers from advice: standards council
06 October 2014
Product manufacturers should be banned from holding financial services licences for advice, the Professional Standards Council says…
Advisers surrender AFSLs as regulations stack up
06 October 2014
Increased regulation is forcing more advisers to give up their individual Australian financial services licences and move to non-institution dealer groups such as ClearView, according to…
Endless inquiries no good for consumers, says AMP chief
06 October 2014
The financial advice industry is bogged down by reviews and inquiries that ignore what is best for consumers, AMP CEO Craig Meller says…
Government dismisses FSC standards board plan
29 September 2014
Finance Minister Mathias Cormann has joined a chorus of criticism of the Financial Services Council’s proposed adviser standards board, labelling its plan a “cop-out”…
FPA questions TPB education proposals
29 September 2014
The Financial Planning Association has called for clarity on proposed education standards for financial tax advisers…
Group life counts cost of suicide and mental illness
29 September 2014
Suicides have cost group life insurers more than $200 million over a five-year period, at an average cost per claim of $120,410, a new study shows…
New CEO for TAL
29 September 2014
TAL Life CEO Brett Clark is to replace Group CEO Jim Minto, who will retire next April after eight years in the role…
FOFA: Industry calls for return of group life commissions
22 September 2014
The ban on group life commissions is distorting the market and stopping specialist advisers being paid, according to the Corporate Super Specialist Alliance…
AFA seeks dispute resolution change
22 September 2014
The Association of Financial Advisers says charging consumers to lodge complaints for external resolution would deter frivolous and vexatious claims, as members…
FOFA causes compliance concerns
22 September 2014
Compliance issues pose the main challenge for advisers under the Future of Financial Advice reforms, according to an Australian Securities and Investments Commission study…
FSU calls for action on conflicts of interest
22 September 2014
The Finance Sector Union has called for the “removal of all conflicts of interest” in the financial services industry…
Zurich, TAL top Canstar life rankings
22 September 2014
TAL and Zurich have shared Canstar’s annual award for outstanding value in life insurance…
Super members struggle with insurance
22 September 2014
About 40% of super fund members do not understand the life insurance offering in their funds, according to the Association of Superannuation Funds of Australia…
Senate turns up heat on advice industry
15 September 2014
The financial advice industry is to face further scrutiny, with two new Senate inquiries launched last week…
AFA female excellence award finalists
15 September 2014
The Association of Financial Advisers and TAL have announced the finalists for this year’s female excellence in advice award…
TAL holds onto market lead
15 September 2014
TAL’s share of the life new annual premium market grew to 20.5% in the year to June 30, up from 15.9% the previous year, according to research by Dexx&r…
Adviser education standards ‘won’t stop rogues’
15 September 2014
Raising education standards will not provide a “silver bullet” against rogue advisers, but change is nevertheless required, according to the Association of Financial Advisers…
IOOF adds to platform’s insurer panel
15 September 2014
IOOF has chosen AIA, TAL and Zurich as preferred insurers for its Pursuit adviser platform…
Lapse rates rise as life pool shrinks: ANZ
08 September 2014
The shrinking pool of people holding life insurance is pushing up premiums, ANZ says in its submission on the Financial System Inquiry’s interim report…