Insurance companies scrutinised over incentives to externally employed financial advisors
Insurance companies are under scrutiny for its use of soft incentives to externally employed financial advisors to send business their way
16 May 2018
© 2018 Newstalk ZB, NZCity
It includes BMW cars and overseas trips.
The Financial Markets Authority has revealed nine life and health insurance companies, over a two year period, spent 34 million dollars on non-financial incentives.
Spokesman Liam Mason says with large incentives advisors are driven towards the sale of products not towards servicing clients need and giving good advice.