Just 115 advisers – 3% of the total adviser population – were responsible for 25% of all new life and risk business in the last financial year, and that top 3% were also the least satisfied with their insurance providers

Conferences would cease to exist in their current form if TNP director of development Dr Dave McMillan’s argument on linking structured credits with NZQA content was “taken to its ultimate conclusion.”

Professional adviser body claims to be able to offer structured credits are “dubious” and may not stand up to scrutiny, according to TNP director of development Dr Dave McMillan.

Three insurance companies are reportedly considering refusing to work with advisers whose persistency rates fall below certain levels, and one insurer is considering invite-only roadshows – with 15% of their current advisers excluded.

The number of New Zealanders with health cover fell by 10,000 in the June quarter, down to 1.367 million, a fall of 22,000 from a year earlier, according to the latest Health Funds Association (HFANZ) report.

Institute of Financial Advisers (IFA) president Nigel Tate is to use the launch of Financial Awareness Week to call for a portion of KiwiSaver cash to be set aside to fund financial advice for savers.

Sovereign and AXA are the only two New Zealand insurers to achieve a five-star rating in the Beaton Benchmarks 2011 survey of life insurance intermediaries.

Just over a month since new adviser regulations came into force, and FMA advertising aimed at increasing consumer awareness began, and disputes resolution schemes have yet to see an increase in complaints.

Ginger Group and Special Risk Insurance are to examine establishing a team of clinical nurses to support insurance brokers and clients struggling with insurers over complex health, occupation and lifestyle claims.

Ginger Group is in the process of finalising an alliance with Forsyth Barr to provide wealth management services to its advisers and their clients.

Sovereign is looking to grow its home loan business and has reached out to brokers with a number of initiatives.

Advisers could pay either $40 or $275 to fund the Financial Advisers Act (FAA) and Financial Markets Authority (FMA) if the Ministry of Economic Development (MED) adopts proposals outlined by adviser bodies.

New financial advice regulations have created a shortfall in quality financial advisers, though those left will be providing advice of a higher standard, according to Tower chief executive Sam Stubbs.

A $40 levy on all market participants to fund both the Financial Markets Authority (FMA) and the Financial Advisers Act (FAA) is the preferred option for the majority of submitters to the Ministry of Economic Development’s (MED) discussion document on regulatory funding.

The latest BNZ-REINZ Market Survey suggests first home buyers are active in the market and investors are staying put.

FMA chief executive Sean Hughes yesterday acknowledged the ill feeling caused by the  ‘cowboy’ advertising campaign, and offered to turn down his invitation to open the IFA conference.