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
Having the answer to a client’s problem isn’t always the same as being helpful. Nicole Bendeich writes that simply providing clients with more information is not the same as understanding their fears and what gets in the way of making a decision.
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