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The Advisers Association calls to remove financial adviser exam
At present, Financial Advisers are required to sit an exam to establish a level of professional competence in addition to attaining a tertiary qualification. The Advice Association agrees that the financial adviser exam was necessary initially as not all professionals met the Financial Adviser Standards and Ethics Authority (FASEA) recognised tertiary qualifications. Recent graduates however,...
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Both Insurance and Mortgage Brokers impacted by construction industry instability
The Adviser reports that the recent increase in company liquidations and instability in Australia’s construction industry has had a compounding effect on both Mortgage Brokers and Insurance Brokers. These professionals are now playing a greater role in educating and advising their clients who are impacted by the collapse of a building company. Read more here.
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Insurance policies at risk due to cost-of-living pressures
Insurance companies are at risk of losing customers due to cost-of-living pressures. The publication Insurance News reports that insurance clients are shopping around more, and in the year to June 2023, 66.1% of policies were renewed without approaching another company, down from 66.5% in the previous year and compared to 67.2% in the year to June...
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Inaugural Claims Broker of the Year Award
FAPSTC is pleased to learn that the National Insurance Brokers Association (NIBA) has included an award recognising excellence in claims management in its annual awards program. In acknowledgement of the important role that Claims professionals play in supporting and value-adding to a brokerage’s clients, the inaugural award has been established to honour an NIBA member...
