[Weekly Wrap] TOWER sales start

First up TOWER has sold its health business to an Australian firm which does quite a bit of direct sales. The story is here and we will have an update later on (all going to plan). If you have any questions for the new owners flick an email to editor@goodreturns.co.nz and we will see if we can get answers.

A source suggested earlier this week that this deal was imminent - seems they were correct. The other tip was that Fidelity are talking to TOWER about acquiring its life insurance business, and maybe KiwiSaver. Watch this space.

Also in the news we have a "Life Insurance company of the Year" from last night's insurance industry awards - not to be confused with the NZ Music Awards which were just down the road.

This week saw SIFA members debate the future of the organisation, which brought up the wider issue of what will happen to owner-operator financial adviser businesses over the next few years.