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What to consider when transferring a book of business

11 October 2016

There are many reasons why a broker may consider transferring a book of business: an insurer may not be able to continue to financially support the book; the insurer may not be providing the level of support required by the clients or the underwriting manager may decide to change underwriters. Whatever the reason, it is advisable that the broker bears in mind that it must ultimately be to the benefit of the client at the end of the day.

Liberty pleased with implementation of effective annual cost measure

10 October 2016

Liberty has successfully implemented the Effective Annual Cost (EAC) measure – a useful tool for customers and financial advisers to compare charges on investment products.

Advising a woman: why a man’s plan won’t fit

10 October 2016

According to the CFA institute, the global income of women will grow from $13 trillion to $18 trillion over the next five years. That’s more than the GDP growth of China and India combined over the same period. Yet research shows most women do not have a financial adviser.

Can brokers use robo-advice to their advantage?

04 October 2016

It seems every year there's a new development that threatens to make traditional financial advisers and insurance brokers obsolete. In the past few years it was the Retail Distribution Review (RDR) and the Protection of Personal Information Act (PoPI). So far, none have disrupted what some refer to as the 'dinosaur' of the traditional insurance industry. But a new foe has emerged in the form of robo-advice: automated algorithms and digital techniques to give consumers the advice and products they need sans advisor.

quick poll

Question

The strongest deterrent against FSP compliance missteps is or should be:

Answer

A criminal conviction Debarment Fine or penalty Any of the above can work

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