Life insurance adviser's warning 'a message'
The adviser, who has not been named, was found to have engaged in misleading or deceptive conduct.
He advised his clients of an alternative life cover plan with a different insurance provider but did not tell them about the policy pricing. He then provided a direct debit form to the clients, which they ignored.
He completed and submitted the direct debit form on his clients’ behalf, without authority, and completed and submitted a declaration of good health on his clients’ behalf without authority.
The FMA said the right response to the adviser’s actions was a warning.
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