FMA concerned financial advisers are pushing life insurance policies for commission, issues warnings

Wed, 21 Mar 2018

By Sophie Boot March 22 (BusinessDesk) - The Financial Markets Authority has warned the life insurance sector after a survey raised concerns that some financial advisers are being incentivised to push clients to change their life insurance, but says lack of disclosure obligations mean it can't conclude that definitively. The latest update in the ongoing review of replacement business, or churn, in the life insurance industry surveyed 24 financial advisers, including 17 registered financial advisers (RFAs) and seven authorised financial ad...

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