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Last Article Uploaded: Thursday, November 26th, 10:47PM
Latest Headlines

Cautious approval for options paper

There is tentative support for the Ministry of Business, Innovation and Employment’s options paper, which will guide the Financial Advisers Act review.

Thursday, November 26th, 6:00AM

The paper outlines three packages of potential changes.

The first includes small-scale improvements on the current model, such as requiring all advisers to meet ethical obligations to put consumers’ interests first.

The other two packages introduce things such as an “expert financial adviser” who can deal with complex matters and rules for salespeople that allow them not to put customers’ interests first as long as they inform their customers of that ...MORE»

Commissions report gets no traction with MBIE

Wednesday, November 25th, 1:51PM

[UPDATED] The contentious Melville Jessup Weaver report into insurance adviser remuneration structures might have been an expensive waste of money.


RFA standards set to lift

Wednesday, November 25th, 8:37AM  3 comments

[UPDATED] An options paper that will guide the review of the Financial Advisers Act has been released. It seems virtually certain that RFAs can expect their regulatory obligations to increase - although a ban or restriction on commissions is not a "preferred option".


New group may replace FSC

Work is under way to form a new industry body that would represent life insurers who distribute product via advisers.

Wednesday, November 25th, 5:00AM

Partners Life, AIA, Asteron Life and Fidelity Life have all resigned from the Financial Services Council in protest at the recently-released Melville Jessup Weaver report, which was highly critical of life insurers’ commissions.

Their departure followed the resignations of AMP and Sovereign.

Fidelity Life boss Milton Jennings said his firm was among a number trying to form a group that would represent those insurers operating with an adviser model ...MORE»

FSC report a missed opportunity: Naylor

Tuesday, November 24th, 6:00AM  3 comments

Advisers would see their incomes and business values slashed if recommendations made in a new report on the industry were enacted, one academic says.


MJW missed their chance

Tuesday, November 24th, 6:00AM  14 comments

Michael Naylor, of Massey University, unpicks the Melville Jessup Weaver report into life insurance distribution.


Fidelity joins FSC exodus

Fidelity Life is the latest insurance company to resign from the Financial Services Council.

Monday, November 23rd, 3:27PM  4 comments

Fidelity Life chief executive Milton Jennings said his organisation was committed to building an alternative forum to bring about positive change for the industry.

Partners Life, Asteron Life and AIA have already quit over the MJW report into life insurance commissions, released today. Sovereign and AMP earlier tendered their resignations.

Jennings said the company was committed to working to advisers and for the future of the industry but the past week had forced him to take stock of Fidelity's FSC membership ...MORE»

MJW report scores a D

Monday, November 23rd, 6:44AM  12 comments

[OPINION] Despite all the money spent on the MJW report and all the discussion the authors had with people in the life insurance industry its conclusions are flawed. Unfortunately though some may take the findings seriously.


Report slams life insurance conflicts of interest

Monday, November 23rd, 5:00AM  3 comments

The highly-contentious, MJW report into life insurance advisers’ remuneration is out. It has seven key recommendations including slashing commissions and banning overide payments to dealer groups. 


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Commissions report gets no traction with MBIE

Wednesday, November 25th, 1:51PM

[UPDATED] The contentious Melville Jessup Weaver report into insurance adviser remuneration structures might have been an expensive waste of money. MORE»

Mortgage Centre Sponsored by: 

Big drop in investor lending

Thursday, November 26th, 6:00AM

New tax and loan-to-value (LVR) ratios seem to have significantly dented bank lending to investors. MORE»

Insurance Centre Sponsored by: 

Southern Cross tackles fraud

Wednesday, November 25th, 6:00AM

Southern Cross has launched a phone line for people to dob in those they suspect of insurance fraud, but it says it does not have any concerns about advisers. MORE»

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Hundreds offer FAA review input

Monday, October 12th, 6:00AM

Hundreds of people have made their views on the Financial Advisers Act heard. MORE»

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Sovereign boss quits

Tuesday, November 24th, 11:15AM

Symon Brewis-Weston is standing down as chief executive of Sovereign. MORE»

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Turners looks to boost MTF stake

Monday, September 14th, 4:35PM

Turners is making an offer to buy shares in Motor Trade Finances (MTF) through its subsidiary Turners Finance Limited. MORE»


FMA raises KiwiSaver bar

Wednesday, November 18th, 6:00AM  5 comments

KiwiSaver providers are focusing more on pushing products than providing advice to ensure their members are in the right funds, the Financial Markets Authority says. MORE»

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Latest Comments
  • MJW missed their chance
    “Let me summarise the argument: MJW (and banks): Commission paid to non-tied advisors is too high. Advisors: If MJW...”
    13 hours ago by b p
  • RFA standards set to lift
    “The other elephant in the room is the QFE's and their advisers (be they AFA'a or staff) (mis-)selling their products and...”
    14 hours ago by R1
  • MJW missed their chance
    “Excellent comments Michael Naylor. I often agree with your insights and analysis, although do hold different views occasionally...”
    1 day ago by Tony Vidler
  • MJW report scores a D
    “Justalifeinsurancesalesman this is the type of detail the Minister would like to see. If you add some further details to...”
    1 day ago by AdviserMan
  • RFA standards set to lift
    “I do not want to hear anything Neilson might say, until the FSC takes a position on the MJW report. Quite frankly he...”
    1 day ago by Dirty Harry
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