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[The Wrap] And that folks is a wrap for 2018

The end of the year had finally arrived. To celebrate the past 12 months I look back over the stories that made the headlines and shaped the industry.

Sunday, December 30th 2018, 9:39AM

Looking back through the most-read stories on Good Returns you can't help but noticing one company made the biggest headlines. If I asked  you to guess who it was I'm not sure many people would get the answer right.

For the record it was AMP. It's intriguing as AMP is a company, which although it has a long history in New Zealand it doesn't do a lot with advisers other than those who are tied to the brand. (This is AMP Financial Services rather than AMP Capital).

The company made headlines for more than one reason. The list includes a decision to end overseas trips for its insurance advisers, the decision to sell the life business to Resolution Capital and try to list the remaining business which includes its advice channel and KiwiSaver, and then of course, there was the testimony of former AMP New Zealand managing director Jack Regan at the Royal Commission in Australia.

No matter what you think of Regan he probably had one of the toughest gigs of the year fronting up for the behaviour of the company in Australia It's little wonder he has now retired.

Life insurance companies generated plenty of headlines with ANZ selling OnePath to Cigna and AIA finally completing its acquisition of Sovereign.

Regulation has never been far from the headlines either. Besides the passage of the Financial Services Legislation Amendment Bill through Parliament and the development of a Code of Conduct for advisers there have been interesting stories about what you could call financial advice in action.

In this category are Preferred NZ dobs in adviser and shows him the door, and the decision from the IFSO about an adviser's responsibility to service clients.

The original piece, Client ignored for 20 years has a few follow ups to it including one where the IFSO set out to explain its decision, however, it won't allow Good Returns to publish its reasoning.

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And the latest a few days ago asking whether the IFSO Case Manager was the right person to make such an important decision. [Read On]

 

 

Here at Good Returns we would like to thank you for all for being loyal readers of the site and ASSET Magazine.

We would like to thank all those risk companies who have supported the Good Returns and ASSET during the year.

Without that support we wouldn't be able to bring you the news and information we provide.

And finally we would like to wish you and your family all the best for Christmas and the New Year.

- Philip, Susan, Heidi, Amanda and all the team at Tarawera Publishing.

Tags: Opinion

« Naylor explains why a Level 5 qualification is too low for quality financial adviceFisher, Chapman and Crossan all honoured »

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Last updated: 21 November 2019 9:39am

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