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Key insurance group, ClearView has warned a Parliamentary Committee that a push for standardised policy terms being led by the Financial Services Council could amount to a “race to the bottom”.
The ANZ Banking Group has told its financial planners that if they fail two audits of their advice they’ll be terminated.
While there is talk of higher levels of inquiry from AMP financial planning clients, the degree to which that translates to an exodus to independent financial advisers will depend on the relationship between AMP planners and their clients.
National Australia Bank has confirmed its intention to exit its wealth businesses including MLC but excluding JB Were and nabtrade.
New survey data suggests life insurance industry executives fear the Life Insurance Framework will act as a disincentive to university graduates considering becoming life/risk advisers.
