APP UPDATES | 18 APRIL 2017

/APP UPDATES | 18 APRIL 2017
APP UPDATES | 18 APRIL 2017 2017-04-18T16:00:45+00:00

SCAMWATCH: DON’T GET SCAMMED!

Every year scams cost Australian citizens, businesses, and the economy hundreds of millions of dollars and have the ability to cause emotional harm to victims and their families. The best way to protect yourself is through awareness and education.

Therefore – the Australian Competition and Consumer Commission (ACCC) is providing everyone with the edition of ‘The Little Black Book of Scams’. Read it here.

OUR 2017 RISK ROADSHOW

In this Risk Roadshow David Spiteri will provide you with a business update relating to risk insurance.

Our guest speakers include Chris Unwin (proudly sponsored by CommInsure), who will provide you with new strategies to apply when delivering insurance solutions to your clients –  both now and in the future.

We will also be joined by MLC who will guide us through their claims process and provide everyone with valuable information that will assist you in getting your claim paid earlier.

You can view the full agenda for the May Risk Roadshow event series here. Don’t miss out on this exciting opportunity – sign up today to avoid disappointment!

SAVE THE DATES: THE MAY VIRTUAL MASTERCLASS 2017

We are excited to announce that our May Virtual Masterclass event is on again! This innovative program includes a series of one-hour webinars running over two separate days (Tuesday 9 May and Thursday 11 May), and hosted by leading industry experts. Tailor your educational journey – on your terms.

Keep an eye out for your invite – arriving in your inboxes soon!

INDUSTRY REGULATORY FUNDING MODEL INTRODUCED IN PARLIAMENT

On 30 March 2017 the ASIC Supervisory Cost Recovery Levy Bill 2017 (Bill) was introduced in parliament.

The bill imposed a levy on entities that are regulated by ASIC during the prescribed year, allowing ASIC to recover its regulatory costs for that same financial year. If the bill is passed, and commences on 1 July 2017, all leviable entities will have to pay an annual levy and submit an annual return to ASIC.

Read more on this this development here.

RISK HOT SPOT

TAL PRODUCT UPDATE

TAL have made various changes to the Accelerated Protection product – taking effect on 1 April 2017. The changes relate to the following:

  • The health sense discount applied to critical illness.
  • Implementing clearer definitions across the product range, including full payment on clinical diagnosis for heart attack.
  • A review of premium rates

For additional information click here.

AMP PRICING CHANGES

Taking effect from 29 April 2017 – AMP will implement a series of pricing changes to its AMP Elevate and AMP FLP product ranges.

The purpose of this is to align with competitor pricing and achieve the delicate balance between competitive market rates and ongoing sustainability.

Read more about the pricing changes here.

ASTERON LIFE PRODUCT UPDATE

Asteron Life has released a set of enhancements to its Healthy Life Option discount offer. Effective from 10 April, the Healthy Life Option will deliver a premium discount based on various health and lifestyle criteria that apply to the insured person.

For additional information click here.

REVIEW OF ADVICE COLLATERAL

To ensure that our advice collateral remains relevant and up to date with legislative changes we are currently in the process of reviewing the strategy content and education guides (which form part of the Statement of Advice [SOA]).

WHAT HAS CHANGED?

The below table outlines the documents that have changed in the last fortnight:

 DOCUMENT TITLE  CATEGORY  DOCUMENT TYPE  PREVIOUS VERSION  NEW VERSION  CHANGES
Commuting a pension – Transfer balance cap rollback  Superannuation  Strategy Content  –  V1.0 New strategy
Understanding Diversification  Investment  Strategy Content  V 2.1 V 2.2 Historical returns updated to include 2016
Understanding Risk and Return  Investment  Strategy Content  V 2.1  V 2.2 Historical returns updated to include 2016

We will continue to review the remaining pieces of strategy text over the coming weeks, and will provide updates when additional changes are completed.

WHEN?

The updated content has been loaded into Compass and is available to download on your relevant adviser intranets.

WHAT COMES NEXT?

No action is required for Compass users at this stage as the content will update via your completed SOA when produced using the wizard.

For non-Compass users, the advice and technical content library is available through your adviser intranets where you can find copies of these amended documents for download.

Get it here.

UPCOMING EVENTS: APRIL – MAY 2017

THE ONE PER CENT OF A LIFE INSURANCE POLICY

In this webinar we will go through the built in and optional benefits of retail life, total and permanent disablement, trauma, and income protection insurance policies. These benefits will be explained as to how they work and if they are really worth it.

Presenter:  David Spiteri, Life Insurance Specialist, Centrepoint Alliance

Suitable for:  Financial Advisers, Tax (Financial) Advisers, Accountants and Paraplanners

Knowledge Area: Life Insurance

THE ONE PER CENT OF A LIFE INSURANCE POLICY
 Tuesday, 18 April 2017  10.30 am – 11.30 am (AEST)  Click here to register. 

 

THE PENSION BALANCE TRANSFER CAP: A THREE – PART WEBINAR SERIES

As a supplement to the March Masterclass presentations Peter Kelly will be offering a series of three webinars designed to delve further into the mysteries of the transfer balance cap.

Each webinar will go into more detail than was covered in the Masterclass, and will be supported with case studies and practical examples to clarify the practical application of key learnings.

Presenters:  Peter Kelly, Superannuation, SMSF and Retirement Planning Specialist, Centrepoint Alliance

Suitable for: Financial Advisers, Tax (financial) advisers, Accountants, Paraplanners and support staff

To register please follow the links below:

WEBINAR 1: THE PENSION BALANCE TRANSFER CAP

KNOWLEDGE AREAS COVERED: SUPERANNUATION AND SMSF

 Tuesday, 18 April 2017 2.30 pm – 3.30 pm (AEST)  Click here to register. 

 

WEBINAR 1: WHAT HAPPENS ON THE DEATH OF A MEMBER – TRANSFER BALANCE CAP IMPLICATIONS

KNOWLEDGE AREAS COVERED: SUPERANNUATION AND SMSF

 Tuesday, 2 May 2017 2.30 pm – 3.30 pm (AEST)  Click here to register. 

 

MARKETING TO MILLENNIALS – WHAT DO THEY WANT FROM OUR INDUSTRY?

This session busts some myths or preconceived notions about this demographic, and explores what they’re all about. Who are millennials, how do they think, what do they want to learn?

In this one hour session we use Zaptitude’s research to discover what millennials are looking for from the finance industry and what type of ‘expert’ they prefer. In addition, we uncover what we need to do better as an industry and what opportunities there are for individual practices to better serve this generation.

Presenter:  Peita Diamantidis, Co-Founder, DeltaPlan Holdings Group

Suitable for:  Financial Advisers, Tax (Financial) Advisers, Accountants, Paraplanners, and Support Staff

Knowledge Area: Practice Management

MARKETING TO MILLENNIALS – WHAT DO THEY WANT FROM OUR INDUSTRY?
Wednesday 19 April  2017 10.30 am – 11.30 am (AEST)  Click here to register. 
Friday 21 April 2017 2.30 pm – 3.30 pm (AEST)  Click here to register. 

CLIENT RESOURCES

REALISE YOUR DREAM BLOG

Real estate investment – not that simple?

In this week’s Realise Your Dream blog Mark Teale explores the treatment of real estate investment under the Social Security Act. You can read his post here.

PREPARE FOR LIFE: ISSUE 25!

Our March edition of Prepare for Life has arrived! Our first edition for 2017 includes our cover article on happiness – does it in fact help you live longer? The superannuation changes coming into effect on 1 July 2017 are the most significant in a decade – so we take a look at the issues that you need to know – now, and planning for Aged Care – it’s not as easy as you once thought!

Get your copy here.