Dealer groups Fortnum and RI Advice Group have agreed on six preferred insurance providers.
Fortnum Financial Advisers (Fortnum) announced its six preferred insurers at the dealer group's inaugural conference in New South Wales yesterday.
The insurers selected include AMP, Asteron, CommInsure, ING, Macquarie and MLC.
RI Advice Group, which provides Fortnum with a number of its dealer services, recently selected the same list of preferred insurers, but consulted with Fortnum management and advisers regarding whether each was also appropriate for Fortnum.
RI Advice Group risk insurance national manager Col Fullagar, who presented at the conference, said Fortnum was happy with the six insurers both as individual companies and due to the balance the collective group would provide to advisers and their clients as a whole.
"The main thing we want from day one is a client-focused resolution process," Fullagar said.
"We don't want to get caught up with insurers that aren't prepared to sit around the table and discuss things with us."
He said while Fortnum and RI Advice Group would not rule out adding more insurers to their preferred lists, they would only do so if it did not compromise the arrangements and understanding both had in place with the original six providers.
"The overall sense I get from advisers at the conference is that they want to work together and work with the resources available to them to move risk forward insofar as how advice is provided, remunerated and how clients are looked after," Fullagar said.
The two non-consecutive alphabetic letters encountered most often last week caused more controversy than the underlying policy they represented, Wouter Klijn writes.... read more »
Home delivered!
Daily news, weekday mornings
Get the day's news delivered direct to your inbox. Register here (it's free!) and choose 'yes' to receive the InvestorDaily newsletter.
