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Weekly Life Insurance News Roundup

April 2nd, 2012 | Posted by Editor in News

Get ready for ‘FoFA on steroids’ if you’re an accountant and adviser
The Accounting Professional and Ethical Standards Board (APESB) plans to forge ahead and introduce a new mandatory standard ‘APES 230 Financial Advisory Services’ once the dust settles surrounding FoFA.

ASIC survey results strengthen need for FoFA reforms
Just days after the reforms’ passage, the Australian Securities and Investments Commission released its anonymous “shadow shopping” survey of financial planners, and its lacklustre results highlighted the need for improved financial advice.

Insurance specialists chasing broad product lists
The days of dealer groups restricting the insurers on their approved product lists to those with the most generous software, training and support offerings may be coming to a close as advisers demand broader policy offerings.

Boyden appoints financial services professional
Boyden Australia has extended their executive search services to the financial services industry, appointing business strategy and financial services professional, Peter Dale as executive director.

ClearView expands distribution footprint
Clearview Wealth has appointed Tony Smith state manager of Queensland and Tony Schiavello state manager of Victoria and Tasmania. The pair will promote ClearView’s life advice and wealth product suites launched in December 2011 to independent financial advisers in their respective states.

Beware risks of super switch
“If you have life insurance, total permanent disability insurance in your current super fund and your health has changed and you roll it over, (to another fund) you don’t get to keep it. “So there’s a lot of reasons an adviser will leave a super fund where it is.”

A good policy for DIY super
Make sure to get expert advice on life and income protection insurance before starting your own fund.

This material is not intended to constitute personal advice, and must not be relied on as such. This information has been prepared without taking into account your objectives, financial circumstances or needs. Before making a decision based on this material, you should consider the appropriateness of this material having regard to your own objectives financial circumstances and needs. You should consider obtaining independent advice before making any decision.

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