[UPDATED]The investment advice industry needs to prepare itself for the pending retirement of the baby boomers by providing suitable generic products that provide a Retirement Income Stream says investment adviser Peter Hensley.

Lenders have rapidly followed the lead of ASB, increasing floating and six-month mortgage rates while cutting longer term fixed rates after the last Official Cash Rate (OCR) increase at the end of last month.

Tower Health & Life has hit the road for the first time in two years, announcing enhancements to its Trauma cover and Income Protection cover. Good Returns writer Jenha White went along to the Hamilton session last Friday and heard about the changes.

The Investment Savings and Insurance Association has decided not to use the international standard for measuring fund performance, but develop its own one.

The University of Waikato has cancelled its Postgraduate Diploma in Personal Financial Planning this year and re-directed financial advisers to other courses because of the government's university capping restrictions.

AON has written to insurance customers suggesting they should switch their cover to Sovereign, provoking outcries that this is a "blatant" case of churning.

The Code Committee has formally recommended that the Commissioner for Financial Advisers David Mayhew consider and approve the Draft Code of Professional Conduct for Authorised Financial Advisers (AFAs).

The latest version of the Draft Code includes some significant changes with boundaries added to three code standards, written provisions removed to allow for oral advice and more alternative designation options added for Chartered Life Underwriters (CLUs).

The ISI says it has not flip flopped on policy, but it has made a simple suggestion to consult on the new Business Replacement Rules and Reinstatement guidelines because they didn't reflect the right intent, engagement and communication.

It's only a matter of time before commissions are banned and advisers need to decide whether they would prefer to jump or be pushed according to professional service firm pricing consultant Richard Burcher.

There are now six education providers offering training and assessment of the National Certificate in Financial Services (Financial Advice) (Level 5) (NCFS-5) which is providing fierce competition in the industry.

Jenha White attended the Code Committee's Auckland consultation meeting and reports on some of the changes advisers would like to see made to the draft Code.

Economic recovery or not? Looming inflation problem or not? Perhaps we really need Paul the Octopus to settle the debate, says ASB. But unless he says something different, the bank's view remains that the economic recovery will continue steadily, not spectacularly.

Two attempts have been made to fraudulently access the accounts of AXA customers who reside overseas in the last two months.

Macquarie and its subsidiary Brook Asset Management have issued proceedings against its previous executive director Mel Firmin and his new employer Devon Funds Management, following the resignation of three of its key staff to take up positions at Devon.

Three public meetings are being held next week to give consumers and financial advisers a final opportunity to comment on the draft Code released last Friday.