Financial advisers who did not explain their terms of business, in particular their fees, who did not action client requests to change or cancel policies, and issues of disclosure were some of the most common causes of complaints about advisers over the past year, IFSO says.

Commonwealth Bank is selling Sovereign, and its Australian CommInsure life insurance business, to AIA for A$3.8 billion ($4.14b).

The Commonwealth Bank of Australia has confirmed it has sold its insurance business in Australia and New Zealand for A$3.8 billion - the sale include Sovereign.

Peer-to-peer lenders are being told they need to find something other than the “novelty factor” to get investors through the doors – and the answer could be to focus on lending to small businesses.

Private wealth advisory firm Hobson Wealth Partners has made several new appointments to its executive and advisory business.

[UPDATED] AIA Group and Zurich have both made a play for Commonwealth Bank's life insurance business, including Sovereign in New Zealand.

Synergy's business development manager has moved overseas.

Southern Cross says its health insurance membership is growing solidly.

Financial Dispute Resolution Service has made a change at the top.

There should not be a need for finance companies to tap into borrowers’ KiwiSaver accounts when they default on a loan, one provider says.

Triplejump is expecting upcoming changes to the qualification requirements for advisers to boost demand for its new learning platform.