tmmonline.nz  |   landlords.co.nz        About Good Returns  |  Advertise  |  Contact Us  |  Terms & Conditions  |  RSS Feeds

NZ's Financial Adviser News Centre

GR Logo close ad
tmmonline.nz  |   landlords.co.nz        About Good Returns  |  Advertise  |  Contact Us  |  Terms & Conditions  |  RSS Feeds

NZ's Financial Adviser News Centre

GR Logo
Last Article Uploaded: Wednesday, October 27th, 3:34PM

Insurance

rss
Latest Headlines

[GRTV] The future of insurance commissions

Commerce Minister Kris Faaoi talks to Philip Macalister on Good Returns TV about the future of commissions, law changes planned and churn.

Wednesday, April 18th 2018, 10:40AM 3 Comments

Tags: Churn

« Kepa takes stake in member businessQuotemonster branches into advice »

Special Offers

Comments from our readers

On 23 April 2018 at 9:37 pm kmacnz said:
Its a laugh that Faaoi has already decided that high upfront commissions is not an issue. Australia has already done the hard work for us, cap commissions so the advisers stopped ripping us all off! Humans are humans, ridiculous incentives drive terrible outcomes.
On 24 April 2018 at 9:51 am Dirty Harry said:
How, exactly, will they 'hear from consumers"? Genuine question. Track record on this is not great.

@kmacnz you need some good evidence regarding your statements. If you look, you might find that in Australia churn has got worse, not better. Australia is also showing us right now with their Royal Commission that it's the providers who are the rip, not not advisers. Our FMA report into replacement and incentives showed that out of thousands of advisers, all of whom are subject to your alleged incentives, just 24 needed action over replacement business.
On 26 October 2018 at 9:10 pm JPHale said:
Agree DH, sitting in the meeting last week with MP, CWG members and Advisers the clear message is commission isn't the issue.

How the conflicts and conduct are managed yes, but how you are getting paid for doing the work is immaterial, everyone expects their adviser to get paid.

It's how that works and what the conflicts are that need clarity.

A salary and bonus's in a vertically integrated organisation with only one product is more of a risk to clients from inappropriate replacement than commission, yet people don't question that.

Sign In to add your comment

 

print

Printable version  

print

Email to a friend
Insurance Briefs

Partners Life rebrands
To mark its recent 10th anniversary in business, Partners Life has rebranded revealing a new logo and website.

Asteron launches promo to support local business
Asteron Life has launched a promotion to thank its new customers for signing up by giving them some money to put back into their local economies.

New Southern Cross CLT hospital finished by Christmas
A new independent hospital for the South Island's Central Lakes region is on track to be finished before the end of this year and be operational by the end of January.

Tower enlists AI partner to bust claims fraud
Tower has partnered with Dutch AI-based solution FRISS to automate and accelerate its claims process and help detect genuine and suspicious claims in real-time.

News Bites
Latest Comments
Subscribe Now

Cover Notes - Specific news aimed at risk advisers

Previous News

MORE NEWS»

Most Commented On
About Us  |  Advertise  |  Contact Us  |  Terms & Conditions  |  Privacy Policy  |  RSS Feeds  |  Letters  |  Archive  |  Toolbox  |  Disclaimer
 
Site by Web Developer and eyelovedesign.com
x