Financial Advice New Zealand Out of the Box Tour

We are pleased to confirm that the premium changes for Chubb Life, effective 26 June 2023 are live on Quotemonster.

For more information on these changes, please click here.

Happy Crunching!

Financial Advice New Zealand Out of the Box Tour

Financial Advice NZ Out of the Box Tour is back this August - coming to a region near you

We know how important it is to connect, share experiences and forge meaningful relationships with advisers in your region, so Financial Advice NZ is hitting the road again this August with part 2 of their Out of the Box Tour.

Stopping at Auckland, Cambridge, New Plymouth, Wellington, Napier and Christchurch, get ready to think outside the box again and expand your knowledge to set yourself up for success in the ever-evolving financial landscape. 

Here’s why this is a must-attend event:

1. Important FMA update - find out what they're seeing on monitoring visits
   Members of the FMA are coming along for the ride and will be sharing the good, the bad and the ugly of what they're seeing on their monitoring visits. Find out how your processes and compliance measures stack up - you don't want to miss this! 

1. Unpack AML and vulnerable clients
   Regardless of whether you're a reporting entity or not, understand your specific requirements as per legislation and regulatory interpretations - this is relevant to all advice streams.

1. Valuable economic and political insights 
   Gain a comprehensive understanding of the markets and future outlook from our economic experts and political debate - this is a great opportunity to get your questions answered.

1. Connect with advisers in your region
   Forge meaningful relationships and share experiences with industry peers that will elevate your business to thrive in the new regime. Get the latest updates from sponsors and product providers and stay ahead of the curve in the ever-changing financial landscape. 

Whether you’re a seasoned professional, a young adviser starting your career, a mortgage adviser, an insurance adviser, an investment adviser, or a financial planner, the Out of the Box tour is tailor-made to meet your specific needs. For more info, visit www.financialadvice.nz/out-of-the-box-tour/.

Limited-time early bird special - $100 per person (rrp$140) +gst until 30 June
Don't miss out on this exclusive opportunity to elevate your business to thrive in the new regime - register today and share with your fellow financial advisers so they can come along too.

Get up to $100 credit with our mate’s rates

Work events are more fun with friends, so refer a colleague to join you at our August Out of the Box tour for our special 'mates rate' of $100 (RRP $140).

Plus, you'll earn $25 credit towards our 2024 conference registration fee for every friend you refer.* 

Get 4 friend referrals and earn $100 off our 2024 conference registration fee. (Ts and Cs apply – see below)

We can’t wait to see you and your friends there!

Terms and conditions: 1. The referrer must already be registered for the August Out of the Box Tour. 2. A referral name must be added to the friend's registration form to qualify for the special $100 registration fee. 3. Friend must pay the Out of the Box Tour registration fee before credit is applied to the referrer. 4. Credit can only be used for Financial Advice NZ 2024 Conference registration fee. 5. * Earn up to a maximum credit of $100 to be used for Financial Advice NZ 2024 Conference registration fee from referrals. 

Quotemonster: Scheduled maintenance on Freshdesk

A courtesy reminder that on Sunday, 18 June, Quotemonster's helpdesk provider, Freshdesk may be inaccessible from 2:30 PM to 5:30 PM for database upgrades. 

Apologies for any inconvenience this may cause. 

Chubb Life Launch

David Haak, GM Distribution interviews Bryce Johns at the Chubb Life product launch. Bryce Johns is Senior Vice President, Chubb Group and President of Chubb Life. 

The FSC has released details of the Conference 2023 panels and sessions

The Financial Services Council (FSC) has released details of some of the key events of interest to those in the life insurance and health insurance sectors at the Building Consumer Confidence Conference 2023.

Of interest to the Health Insurance sector:

• 15 August – Member only session - The great Genetics Debate – creating a win-win for customers

• 16 August - Breakout session - The future of the Health System in NZ: Public and Private innovating together?

• 16 August - Breakout session - Equity and Fairness in the Health System

Of interest to the Life Insurance sector:

• 15 August – Member only session - The great Genetics Debate – creating a win-win for customers

• 16 August - Breakout session - Be Confident, Be Courageous: what insurance do customers really need?

• 16 August - Breakout session - Is there a Golden Egg? Balancing of technology, legislation and innovation

More daily news:

FSC release the Climate Scenario Narratives for the Financial Services Sector

Lawyer sues Asteron Life in the Court of Appeal for alleged life insurance contract breach

Southern Cross awarded top 10 in the Kantar Corporate Reputation Index

ACC's latest Innovation Fund for recovery at work projects is now open

New ruling from IRD regarding GST and Directors' and board members' fees

AIA NZ has been awarded the Accessibility Tick

The Co-operative Bank announce full-year profit before tax of $18.8m for the period ending March 31

Tomorrow, Today, Event Series: The AI Revolution – Sustainability event on Jun 27

Stats NZ confirms NZ dipped into recession

Data for Australia shows overall life insurance inflows saw a modest increase of 2.5%

Government to increase the number of funded medical students from 2024

Good Returns has six marketing tips for mortgage advisers

Government announces a five-year focus on tackling rheumatic fever and rheumatic heart disease

Partners Life rates are now live!

We can confirm that the rate changes for Partners Life effective 19 June 2023 are now live on Quotemonster.

Happy Crunching!

Compliance Refinery Compliance Officer Training Programme starting end of June

Compliance Refinery has designed a Compliance Officer Training Programme, starting at the end of June. The programme aims to equip senior support staff or compliance personnel with the tools, skills and implementation capabilities necessary to support Directors in your business.

The programme runs over a year and consists of:

• 10x monthly 1-hour group training sessions with a case study. These focus on the technical aspects, responsibilities and knowledge of a compliance officer.

• Setting the scene: being an effective compliance officer

• FAP standard conditions

• FAP licensing guide

• The code of professional conduct

• The purpose of conduct

• Three lines of defence and common compliance structures

• Compliance assurance and testing, and reporting to the board

• Six step advice process and file reviews

• Marketing and advertising; vulnerable customers

• How to maintain a licence

• 11x individual 1-hour coaching sessions. These are real-world coaching sessions on issues specific to your business, whether regulatory events, pain points or internal issues that help you conceptualise solutions.

• Compliance Refinery help desk. Staffed by experts, you can call or email to get personal responses.

• Additional training sessions on relevant topics

For more information visit www.ComplianceRefinery.co.nz

More daily news:

David Boyle questions whether kiwis are recession-ready

Study finds Covid-19 restrictions had a real impact on some young people’s wellbeing

Calls to move immunisations away from GPs to better reach Māori children

Medical centres across the country struggle with a funding model that is ‘not fit for purpose’

This week is Men's Health Week

Katrina Shanks writes about how to reduce work stress and improve productivity

With recent research finding that employees are stressed and under pressure to work beyond their regular hours, Katrina Shanks has some advice for managers around reducing stress in the workplace and improving productivity.

First up, you need to recognise stress when it happens.

Common signs include unexplained fatigue, headaches, stomach upsets, difficulty sleeping, being moody and irritable, being angry or panicking in situations that normally wouldn’t bother you, avoiding other people.

Shanks suggests four ways for managers to reduce their stress:

• Take regular breaks – taking a time-out – have a coffee, go for a walk around the building - can mean you return refreshed and ready to be productive.

• Delegate – trust your staff and have them share the workload.

• Upskill your staff – when you know they have the skills to do more on their own there’s less need for you to step in.

• Provide clear guidance – help keep employees informed and engaged by ensuring organisational priorities and changes are clear.

More daily news:

Westpac life insurance’s formal integration into Fidelity Life set to be end of June

63.3% of New Zealanders with a mortgage say they are ‘worried about interest rates at the moment’

Partners Life Premium Changes - June 2023

Dear Quotemonster users,

We are working hard to finalise Partners Life recent premium changes on our platform and you may notice price discrepancies between Quotemonster and their software until these are completed.

We will post up a notification once premiums have been updated.

Apologies for the inconvenience

Legal and regulatory update for the life and health insurance sector

15 Jun 2023 - The Reserve Bank of New Zealand is consulting on a new risk assessment framework proposed to evaluate applications to bank with it directly. https://www.rbnz.govt.nz/hub/news/2023/06/reserve-bank-considers-eligibility-changes--for-its-settlement-accounts

15 Jun 2023 - The Australian Prudential Regulation Authority (APRA) has released the annual life insurance supplementary statistical tables and biannual life insurance institution-level statistics for December 2022. https://www.apra.gov.au/news-and-publications/apra-releases-life-insurance-supplementary-statistical-tables-and-2