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Insurance Business | 28 Mar 2013, 12:00 AM Agree 0
The FPA admits it has received examples of brokers fraudulently using the term ‘financial planner’ to entice the consumer.
  • Charles | 28 Mar 2013, 11:29 AM Agree 0
    There appears to be a planned attack on "general Insurance Brokers " by the "life " side of the Industry, probably in an endeavour to divert attention from their industry which has been renowned for poor consumer acceptance.
  • Robert Cooper | 28 Mar 2013, 11:56 AM Agree 0
    I cannot imagine what advantage there would be for any General Insurance Broker to call themselves a Financial Planner unless of course they have a licence in that area. To me being an "Insurance Broker" is just as prestigious term as Financial Planner. Where is the advantage?
  • Ian J | 28 Mar 2013, 12:42 PM Agree 0
    Forget the prestige Rob, I'd say the IB sector has a better reputation than FP's and on the whole we are mostly considered to be of greater benefit to the community at large. Many (not all, or most, but many) FP advisers are only ex life insurance sales people who used to sell trumped up 'savings plans', 'childrens education plans' etc under the guise of regular premium investment plans with huge contractual terms. Why would a GI Broker want to be tarred with that brush?
  • Peter | 28 Mar 2013, 01:17 PM Agree 0
    Perhaps Dante can publish some examples, and his notification to ASIC, because it would be an active breach of the brokers AFSL. I bet he's heard it 5th hand and Im calling codswallop. The vast majority of general insurance brokers wouldn't know where to start
  • Just a thought | 30 Mar 2013, 09:05 AM Agree 0
    What about Financial Planners calling themselves Insurance Brokers ?
    I challenged one who was advertising they were an Insurance Broker in a major paper. When challenged they stated they didn't know they could not do that without a licence. There are still cowboy's out there,
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