Macquarie Private Wealth expands its insurance business
Macquarie Private Wealth has doubled its wealth protection team with the appointment of three new insurance specialists, expanding its insurance advice business in Victoria and Queensland.
Nancy Peat and Lee Aylward bring nearly 35 years of collective experience to Macquarie Private Wealth and will join the team in Melbourne. Rayya Afkhami joins the company from LEA Insurance Brokers and will be based in Brisbane.
The team of risk specialists are responsible for providing advice services to clients on asset and income protection, life cover, estate planning and business succession.
Patrick Dieter, head of insurance advice for Macquarie Private Wealth, said the volatility experienced in financial markets during the past two years resulted in investors placing a stronger emphasis on insurance.
“While previously investors were concentrating on wealth accumulation and building their investment portfolios through direct equities, what we are hearing from clients now are more requests for holistic wealth protection strategies,” Dieter said.
Recommended for you
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.
