AAP WEEKLY UPDATE | 1 SEPTEMBER 2016

/AAP WEEKLY UPDATE | 1 SEPTEMBER 2016
AAP WEEKLY UPDATE | 1 SEPTEMBER 2016 2017-03-16T15:03:40+00:00

IMPORTANT UPDATE: SPRING MASTERCLASS

IMPORTANT INFORMATION

With the forthcoming Spring Masterclass events we wish to clarify that AAP members, your staff, and Centres of Influence (COI), for example: Accountants, are not being charged for attendance. We have had to apply a fee for our education program for future events as a number of non-affiliated Centrepoint Alliance advisers have wanted to attend.

You will note at the bottom of the invitation there is a VIP code (MCOCT16) for you to enter when you register (please note that this is the registration format moving forward as well). We have had to do this to identify non-APP members who may register.

Also – please note that for our education program (masterclasses, professional development days, responsible manager training, webinars, and so on) there is no charge now – or in the future – for your attendance, your staff’s, and your COI’s.

We apologise for any confusion this may have caused you. If you would like to discuss then please contact your local business consultant.

REGISTER FOR THE SPRING MASTERCLASS TODAY!

We look forward to seeing you at one of our exclusive Spring Masterclass events.

TECH UPDATE

Daniel Butler and William Fettes from DBA Lawyers have kindly provided us with this fortnight’s Tech Update on automatically reversionary pensions and super reform.

Read more here.

RISK HOTSPOT

PREMIUM RATE INCREASE FOR CLOSED ACCELERATE AND TOWER PROTECTION POLICY PRODUCTS

From 1 October 2016 TAL will increase premium rates for the closed Accelerate (2007) and TOWER Protection Policy (2002 – 2009) products. Only Income Protection and Critical Illness Insurance premium rates will be impacted.

This is the result of a review conducted to ensure the sustainability of the products and to make sure that the rates remain competitive and fair for all customers. Claims paid under these products have been higher than expected, and the premiums have not been adjusted for some time. These increases are generally in line with the market and our current on-sale products.

There are no changes to Life Insurance or Total and Permanent Disability Insurance premiums. The following Income Protection and Critical Illness Insurance premium rates will apply on the policy anniversary:

ACCELERATE (2007)

  • Critical Illness (CI) Insurance premiums will increase by an average of 4.4%.
  • Income Protection premium increases will range between 7.5% to 15%.

TOWER PROTECTION POLICY (2002 – 2009)

  • Critical Illness Insurance premiums will increase by an average of 5.2%.
  • Income Protection premiums will increase by an average of 14.5%.

ADVISER COMMUNICATION

Any advisers with clients who are impacted by the increase have been sent an email communication.

CLIENT COMMUNICATION

Clients will be advised of the increase to their premiums in their annual renewal letter. The increases will roll out over 12 months at the time of the policy anniversary, and this will conclude during policy anniversaries in September 2017.

UPCOMING CPD EVENT

NAVIGATING COMPLEX INVESTMENT MARKETS WITH MORNINGSTAR AND vMAP’S CLIENT REPORTING; MAKING THE MOST OF MANAGED ACCOUNTS

Economic and geo-political events continue to deliver complex and dynamic investment markets; both here in Australia and around the world. To gain insight from Morningstar’s views, and to get the latest on portfolio positioning for vMAPs – please join us to hear more from Brad Bugg, Head of Multi-Asset Income, Morningstar Investment Management.

Stay with us following Brad’s talk to take a brief look at how vMAPs client reporting can deliver massive efficiencies to your advice firm, and increase client engagement.

PRESENTER: BRAD BUGG, HEAD OF MULTI-ASSET INCOME, MORNINGSTAR INVESTMENT MANAGEMENT

SUITABLE FOR: Financial Advisers, Paraplanners and Support Staff

KNOWLEDGE AREAS: Managed Investments, Direct Equities and Practice Management

NAVIGATING COMPLEX INVESTMENT MARKETS WITH MORNINGSTAR AND vMAPS WITH CLIENT REPORTING; MAKING THE MOST OF MANAGED ACCOUNTS
Tuesday, 13 September 2016 2.30 pm – 3.30 pm (AEST) Click here to register.

GLOBAL TRENDS AND THEIR IMPACTS ON THE AUSTRALIAN FINANCE ADVICE MARKET

There are a range of factors driving significant change in various industries across the globe. We hear about these everyday but what does it really mean for you, your business, and your clients? In this presentation the Colonial First State Strategy team bring together insights from global thought leaders to identify eight megatrends. We will provide a look into these trends, and discuss how they may impact the retail wealth value chain in Australia – including your clients and advice business models.

PRESENTER: GERARD BAILEY, NSW PLATFORM SALES BDM, COLONIAL FIRST STATE

SUITABLE FOR: Financial Advisers, Tax (Financial Advisers), Paraplanners, Accountants, and Support Staff

KNOWLEDGE AREAS: Generic Knowledge and Ethics

GLOBAL TRENDS AND THEIR IMPACT ON THE AUSTRALIA FINANCIAL ADVICE MARKET
Wednesday, 14 September 2016 10.30 am – 11.30 am (AEST) Click here to register.

ASIC REQUIREMENTS FOR LAPSE REPORTING FOR LIFE INSURERS

In this webinar our Life Insurance Specialist, David Spiteri, will give an update for where we are at with the LIF Reform, what lapse reporting required by ASIC is, and how it will be calculated.

PRESENTER: DAVID SPITERI, LIFE INSURANCE SPECIALIST, CENTREPOINT ALLIANCE

SUITABLE FOR: Financial Advisers, Tax (Financial Advisers), Paraplanners, Accountants, and Support Staff

KNOWLEDGE AREAS: Life Insurance

ASIC REQUIREMENTS FOR LAPSE REPORTING FOR LIFE INSURERS
Tuesday, 20 September 2016 10.30 am – 11.30 am (AEST) Click here to register.
Thursday, 22 September 2016 2.30 pm – 3.30 pm (AEST) Click here to register.

INTERGENERATIONAL ADVICE

To stay relevant today it is important to become a trusted family Adviser. Becoming a family Adviser is about trust – but more so – it is about understanding the deep emotional connections within families.

It is about appreciating that no-one wakes up in the morning and says, “this is the day I’m going to get my financial plan, insurances, and will done”. It is about being able to articulate to clients that you understand the challenges in living well and looking after their families.

PRESENTER: JESSICA BRADY, BUSINESS DEVELOPMENT MANAGER, ZURICH

SUITABLE FOR: Financial Advisers, Paraplanners, and Support Staff

KNOWLEDGE AREAS: Generic Knowledge and Financial Planning

INTERGENERATIONAL ADVICE
Tuesday, 27 September 2016 10.30 am – 11.30 am (AEST) Click here to register.
Thursday, 29 September 2016 2.30 pm – 3.30 pm (AEST) Click here to register.

 

View the Events section of their website to see all the upcoming CPD webinars scheduled for 2016.

CLIENT RESOURCES

REALISE YOUR DREAM BLOG

ACCOUNT-BASED PENSIONS: DON’T BURY YOUR HEAD IN THE SAND!

On 1 January 2015 the official social security assessment process of account-based pensions (ABP) for the purposes of establishing a person’s age pension entitlement was changed. Mark Teale looks into this a little further; so you don’t have to.

Read more here.

PREPARE FOR LIFE: ISSUE 22 NOW AVAILABLE!

Issue 22 of Prepare for Life is now available! Peter Kelly takes a look at change and how this applies to the latest outcome from the 2016 federal election, rental assistance is explored in depth by Mark Teale, and we take a look at the top finance bloggers making waves online.

Issue 22 also features a fresh new look! So what are you waiting for? Check it out below:

Get your copy here.

Have any story ideas from your clients? Let us know! We would be keen to hear them for future editions – please contact marketingandcomms@cpal.com.au.