The LIF hub will provide advisers with information regarding “ongoing technology and service enhancements” that will assist them provide value to clients, ANZ Wealth said in a statement.
Advisers will also be able to access guidelines on how OneCare commission payments will change following the introduction of the reforms from 1 January 2018.
ANZ Wealth head of life insurance Gerard Kerr said preparing advisers for the reforms was among the business’ primary concerns.
“We know our advisers have many questions about the changes the LIF reforms will bring and we have made it a priority to provide them with the right tools and information to prepare for the new environment,” he said.
ANZ’s “Support” is to stop paying commission on CPI increases and they are reducing level commissions as well because that would be good for retention.
They are also with the other FSC cartel members increasing premiums on existing customers and reducing premiums on new business as they are up for sale. This of course will also encourage “churn” which was what the LIF was supposed to be fixing.
ASIC need to start investigating why these companies are reducing new business rates and applying huge premium increases on existing customers which is the one thing that will encourage existing customers to move companies. Its corrupt.