James Green from LifeHealthPro writes "Independent financial advisors constitute a young profession, but they and their partners over the past 35 years have always helped shape societal trends, technology and regulation. For this profession to thrive in the years ahead, it must harness five major transformative trends already in process." Click here to read the full article.
LifeHealthPro Senior Editor Warren S. Hersch recently interviewed Doug French, a New York-based managing principal of the Insurance and Actuarial Advisory Services of Ernst & Young LLP. The interview explored initiatives identified in EY's “2015 U.S. Life Insurance Outlook” report the professional services firm believes should be top priorities for life insurers in 2015.
Click here to read the interview in full.
This goodreturns article, albeit based on Australian experience, does have something useful to say about the difference between the product provider compliance requirements in the sales process (fundamentally limited to disclosure) and the requirements of advisers.
The problem for advisers is that whether or not something is 'suitable' is nearly always arguable. It is often hard to argue that something was suitable when the manager has gone bust leaving the client with nothing. Yet it may well have been suitable at the time it was sold.
Article by Susan Edmonds at Goodreturns at this link.
To check the latest product and pricing changes on your mobile phone or tablet is easy, follow these steps:
1. Install the LinkedIn application on your smart-phone (Android and iOS versions exist)
2. Follow Quality Product Research Limited
Now you are organised, and to refresh your memory about recent product or pricing changes open your LinkedIn app, type quality into your search function, and click on Quality Product Research - Immediately a list of all the recent updates and news appears.
Quotemonster is now three years old and is the number one place to go for pricing and research. We are thrilled with this response and are committed to continuing to be your first choice.
As part of this we are holding another round of regional road shows which are ideal for you to attend if you are new to Quotemonster or if you are an old hand but want to learn about what’s new.
- New Research tools (Business, IP Claims, Insurer Selector, Funeral Plan and Head to Head)
- Policy Document Library
- New poster - Why You Need Insurance: The Financial Facts
- New quote options and products
- Tips and tricks
- The latest news on more than a dozen price and product changes since you last joined us
As always these sessions will be jam-packed full of good ideas and something to take away with you.
It is on Thursday the 19th of February at The Crown Hotel at 11am. Click here to register.
Although the first half of the year usually involves very little product change activity we think this year will be different. Partly that is because of a general speeding up of product development cycles and a broadening of product ranges - more products reviewed more often means that the traditional process of review in the first part of the year and launch in the second half is breaking down.
Also, we think that new channels and greater competitive pressure in all channels: adviser, bank, commercial, and direct are pushing insurers to make changes. In addition to that profitability problems are often fixed with a combination of price changes and product restructuring.
It is going to get busier, faster, in 2015.
LifeHealthPro writes "Financial advisors needn’t fear the ravages of disruptive technology. They can grab the bull by the horns and ride it themselves." Click here to read more.
John Pierce, an industry insider for more than 20 years, realized the problem facing advisors and wrote a book: Sell More and Sleep at Night. Here are five topics from Pierce's book:
- Building Relationships Family
- Common Sense Activities
- Negative Self Talk - STOP IT!
- Time to Think
Click here to read these points in more detail.
Australian website Money Management writes "Many commentators have overlooked the fact that the Australian Securities and Investment Commission’s surveillance of life insurance advisers was not random and actually targeted licensees with the highest activity levels, according to an analysis published by Tria Investment Partners."
Click here to read the full article.
Southern Cross Health Society's annual health survey found that 63% of the just over 2,000 respondents believe they should consume less sugar, and 73% believe it to be a contributing factor to our obesity problems. But there was only moderate support for further government regulation of food (27% agreeing) or drinks (34% agreeing).
There was also only moderate support for the government taxing food and drink:
- 39% agree that sodas and other sugar-sweetened drinks should be taxed
- 34% agree that high sugar foods should be taxed
- 26% agree that high fat foods should be taxed
- Just over half believe that unhealthy foods and drinks should not be taxed
Southern Cross Health Society CEO, Peter Tynan, says the results show that while people hear the ‘eat less sugar’ message, many are yet to act on it and they don’t want change forced on them either.
“New Zealand is seeing a rise in chronic conditions such as diabetes, stroke, cancer, heart disease, and sugar intake is linked to all these, as well the obvious dental conditions such as gum disease and tooth decay.
While sugar is only one contributing factor to these conditions, it’s clear that in the main, we do need to limit our intake of foods and drinks with added sugar,” he says.