Relatively few life insurance products are sold via advisers earning high upfront commissions, new research suggests.
Industry commentator Russell Hutchinson, of Quotemonster and Chatswood Consulting, has released statistics indicating that financial advisers likely account for between 40% and 45% of new life insurance sales.
He said that number was arrived at by first deducting from total industry sales all the business from companies that did not deal with advisers, such as BNZ and Cigna.
Then bank business was removed, a calculation made more accurate by recently-published ANZ data that showed far less of its business was being done by advisers than had previously been estimated...MORE»
Tuesday, July 28th, 6:00AM
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Monday, July 27th, 11:59AM
One commentator I read, who happens to be a big fan of robo-advice, talked excitedly about how it solves all those messy compliance problems caused by forgetful – or conflicted – humans.MORE»
A “mini-Trowbridge Report” has been commissioned by the Financial Services Council, to investigate sales incentives in New Zealand’s personal insurance industry.MORE»
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