The man behind the merger of Guardian Trust and Perpetual Trust is causing waves in Australia with a site that pays commissions to customers rather than advisers, and essentially encourages churn.
Australasian Wealth Investments (AWI), which is headed by Andrew Barnes, has established a website, YourShare.com.au, that promises to give Australian consumers their share of $3 billion paid in commissions to advisers every year.
Barnes most recently came to prominence in New Zealand after buying Perpetual Trust for $12.3 million from George Kerr’s company Pyne Gould. Before that he established Australian Wealth Management, a spin off from TOWER Australia...MORE»
Friday, November 14th, 6:00AM
OnePath Life has introduced two new income protection covers and a new redundancy cover to meet adviser and consumer demand.MORE»
Thursday, November 13th, 6:00AM
New Zealanders could slash their life insurance premiums by up to 75% if they were able to access cover via their KiwiSaver accounts, the chief executive of a transtasman advice firm says.MORE»
Asteron Life has been named life insurance company of the year, for the second consecutive year, by the Australian and New Zealand Institute of Insurance and Finance.MORE»
If 200% upfront commissions are still producing healthy profits for life companies, it’s questionable whether they’ll come down, one industry expert says.MORE»
Falling rates of health insurance in New Zealand appear to be stabilising, the latest Health Funds Association figures show.MORE»
Russell Hutchinson's guide on how to have a real input into the Financial Advisers Act Review.MORE»
Fidelity Life’s record profit result shows its acquisition of TOWER’s life insurance business has been a success, its chief executive says.MORE»