26 September 2019 13:01
The regulatory journey has just begun for the life risk advice insurance industry, former Australian Labor Party MP Bernie Ripoll, said.
Kenneth Hayne made a recommendation around life insurance and risk but has given the sector the chance to prove its own structures and models, particularly around commissions, Ripoll said.
ASIC’s formal review of the risk advice sector starts in 2021 but the regulator is already gathering information relating to quality and appropriateness of advice.
AIA, ALP, Bernie Ripoll, Comissions, commissions, risk
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The merger of Coastline Private Wealth with fellow WA-based financial advice firm Integro Private Wealth is a vote of confidence by Integro in the value of risk advice, its partner and private wealth adviser Justin Gilmour says. Despite ongoing structural issues in the risk space, Gilmour says sound insurance remains central to every wealth plan.
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