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FMA asks for client files

Advisers who received requests for information from the Financial Markets Authority (FMA) in its investigation into replacement business have now been asked to hand over copies of client files.

Wednesday, February 22nd, 3:08PM

As part of its work into churn, the FMA identified 200 advisers who had a high estimated rate of replacement business.

It wrote to them with a section 25 request, asking for a list of all their clients, and all of those who had moved their policies since 2012, including details of the original policy, new policy and any non-standard terms involved.

It also wanted a list of all insurers clients had policies with, and details of the commissions and incentives advisers received...MORE»

nib boosts profit

Monday, February 20th, 12:21PM

nib has reported a 40% increase in underlying profit in its New Zealand operations.

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Partners rejoins FSC

Friday, February 17th, 11:00AM

Partners Life has rejoined the Financial Services Council after quitting the organisation in 2015 amid the fallout of the Melville Jessup Weaver report

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Sovereign: Don't wait for law to change

Thursday, February 16th, 2:00PM

Sovereign’s new distribution boss says the upcoming Financial Advisers Act review is likely to simply make clearer obligations that already exist for insurance brokers.

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Insurers ponder cover for retirees

Thursday, February 16th, 6:00AM

Insurers are wrestling with how to offer insurance to New Zealanders holding larger amounts of debt later in life.

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More Kiwis take out health insurance

Tuesday, February 14th, 6:00AM

New Zealand has experienced the biggest jump in health insurance coverage in a decade, Health Funds Association (HFANZ) figures show.

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Is that really advice?

Monday, February 13th, 3:59PM

What ordinary people think is advice, what we think advice is, and what the law defines as financial advice vary a bit. So what is advice? Does it matter if your client knows?

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Sovereign launches loyalty programme

Friday, February 10th, 6:00AM

Sovereign is changing the way its best-performing advisers are rewarded, with a new loyalty programme that recognises existing and new business.

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