When are these companies going to get it?? Risk is going to be unprofitable to write. Why would anyone go through the regulatory and qualification requirements to stay in an industry that will not make them a wage? It's not that advisers "are not fully aware" its that advisers are very fully aware but the companies don't want to accept there won't be a lot of new business for them in the future. The FSC con job may have delivered a very short term profit but the future is very bleak for everyone.

So some insurers are realizing there is a distinct threat to New Business from LIF. Well all FSC members went along with the radicals at the FSC and stayed quiet, apparently ignoring that the facts that the protagonists for LIF were those insurers looking to sell soon, pumping up their sale value with reduced distribution costs.

The writing is on the wall. Go back and read the comments by ASIC and the FSC. When the review is done in 2021(?) the push will be on for level commission . That’s what there comments imply

43 Pages - not including Research or copies of quotes

How long will the doubling of renewal commissions last before that gets called "excessive" and the next fight starts?

Trade body and professional association support for advisers is absolutely essential. Both groups can do a very great deal to ease the nerves, get rid of uncertainty, and allay fears by discussing all the study and business options in a balanced and supportive way.

everyone will find out by 30 March 2018 he he gonski

ABSOLUTE ROT ANZ! How dare you lump advisers in with YOUR inability to show consumers transparency. Get the hell out of OUR insurance industry immediately and leave this to REAL insurance people to manage. You're a waste of shelf space. Go on, get out . . .NOW!

nope don't think so

Most recent was 98 pgs. Basic super, insurance & cashflow advice for couple.

Do I win?... no, nobody wins except the guy that owns the printing ink company

good one

excellent comment. banks love heavy regulation

I don't often agree with current ALP officials, but Bowen seems more sensible than most. He's absolutely right that the ASIC chair needs to be beyond reproach. ASIC needs to recover trust and credibility from the damage inflicted by Medcraft and his band of sycophants. The new chair needs to be someone free of personal biases, who will act with fairness and common sense, in the best interests of consumers.

"ex cathedra"? I had to Google it, but I've learned something new today. Thanks NZ adviser.

Why would any industry/professional association put up with this rubbish..... Just imagine what would happen if the FPA didn't get $60,000 plus, from ANZ this year via there professional partner program...They'd be able to come out and say get real ANZ. ....but you can't bite the hand that feeds it can you. So we're yet again an easy target for a bank to write what ever it wants and buck shift...

Transparency on clients fees...what a pathetic joke. Let me set out the arrangement now in addition to FDS and Opt in. Sign this Mr Consumer it's a form to pay me $xyz, and again....another form to have those same fees directed to the dealer group... another form for the dealer group to pass on that same fee to the adviser, another form to consent to ongoing fees. Plus a letter of engagement setting out the fees .... Sorry Mr Consumer you want to talk about your goals, your insurance your investments I'm sorry time is up. Yes we need greater transparency ANZ.

How dare ANZ stand up and make statements like this when their own advisers services recommend that clients cancel their cover with other insurers and move to them. I have come across this so many time where these bank advisers are encouraged to have their customers move their cover to the bank when it is not in the best interest of the client or the industry.
I remeber year ago when the banks started getting into insurance the comment was " just watch how the banks f..k this up" and they have.

Not really. Gold, oil, commodities, shares and many other items of value are priced in dollars. Why should Bitcoin and Cryptocurrencies be any different?

only 38 pages? mine are at least double yours. let's see who has the longest (no of pages)

well it would be confusing to quote their value as the number of goats they can purchase