LIF

Financial planning

The AFA board has rejected a call from within the LICG for an EGM to pass a special resolution imposing limits to the AFA board’s discretionary powers....

Financial planning

Regulatory change to cost $3b

The financial services industry had already spent $2.75 billion on implementing various regulatory changes, and should prepare to spend more on LIF, education standards, ...

Financial planning

O’Dwyer signals discretion on adviser education standards

The Federal Government will allow its expert standards setting body discretion to issue exemptions on a case-by-case basis....

Financial planning

LIF short-termism cost government

Engaging in short-termism through the Life Insurance Framework cost the Government in the Federal Election, the Life Insurance Consumer Group said. ...

Editorial

New Parliament, more uncertainty

Financial planners should brace themselves for a further period of political and policy uncertainty and possibly rue the lost opportunities of 2013-16. ...

Financial planning

LICG slams direct carve-out

The Life Insurance Customer Group has taken aim at the FSC once again for its role in achieving a carve-out for direct insurance in the Life Insurance Framework. ...

Financial planning

FSC acted in haste on churn: LICG

The FSC has been accused of acting in haste on churn in the Life Insurance Framework, with a group saying it wants ASIC to justify LIF by proving the churn issue after th...

Financial planning

FSC defends value of LIF amid cartel claims

Financial Services Council chief executive, Sally Loane, has defended her organisation's role in pursuing the Life Insurance Framework pointing to the unsustainability of...

Financial planning

Why did the government get involved in LIF?

There was nothing to be gained for the Government by mandating the LIF, and the FSC must have initiated the changes to the framework, a financial planner said. ...

Financial planning

FSC’s LIF approach dubbed ‘cartel’ behaviour

A group of risk advisers have labelled FSC’s positioning on LIF as cartel behaviour, and said the industry should have gone to the ACCC with its life insurance propositio...

Financial planning

FSC direct insurance carve-out calls condemned

The AFA expressed disappointment over the FSC’s continued calls for a carve-out for direct insurance sales from LIF where no advice was given, and said this loophole must...

Financial planning

Shift focus to other FSI recommendations

Industry groups are urging the Government to turn its attention to other recommendations cited in the FSI such as simplifying statements of advice even as election fever ...

Life/Risk

LIF prompting life/risk consolidation

The new Life Insurance Framework appears to be causing consolidation in the life/risk sector as single adviser operations feel the squeeze....

Life/Risk

Adviser group rebukes FSC level commission stance

A life/risk adviser group has hit out against the FSC’s call for level commissions in the LIF, and accused it and the big banks of having undue influence on the Governmen...