Cormann to address Sydney breakfast
The Minister for Finance and Acting Asistant Treasurer, Senator Mathias Cormann will address a Money Management breakfast traversing key issues.
Both the Minister for Finance, Senator Mathias Cormann and Australian Securities and Investment Commission (ASIC) chairman, Peter Kell, will address a Money Management breakfast in Sydney next month debating life insurance advice and the recent highly critical ASIC report dealing with the life sector.
The breakfast, set down for 3 December, will also see debate on the issue by panelists including Association of Financial Advisers chief executive, Brad Fox and Financial Planning Association chief executive, Mark Rantall.
The breakfast will represent one of the first occasions on which Senator Cormann has been able to address the planning industry since the Senate overturned the Government's regulatory changes to the Future of Financial Advice laws.
As part of the breakfast, Money Management will be presenting its annual AdviserChoice Risk Awards judged be research house Dexx&r.
Bookings for the breakfast can be made via www.mmleaderseries.com.au.
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Policy and advocacy specialist Benjamin Marshan has left the Council of Australian Life Insurers after less than a year, having joined in March from the Financial Planning Association of Australia.
The declining volume of risk advisers meant KPMG has found a rising lapse rate for insurance policies arranged by independent financial advisers, particularly in the TPD and death cover space.
The Life Insurance Code of Practice has transferred from the Financial Services Council to the Council of Australian Life Insurers.
The firm has announced it will no longer be writing new life insurance policies in the retail advised and corporate group insurance channels, citing a declining market and risk adviser numbers.
