Companies called to lend a hand

Institute of Financial Advisers (IFA) president Lyn McMorran is urging companies to provide advisers with the information they need to meet standards set by the IRD.

She says a handful of companies have already indicated they are prepared to step up and provide their advisers with comprehensive information in relation to GST on their income from insurance products, “But I would like to call on all companies to do the same.

“All advisers are under a great deal of pressure at this time with the ongoing economic crisis, having to reassure clients and try to anticipate the impact of legislation. While I realise that many companies are also suffering under these conditions, it just makes sense that most of them are far better resourced and have better access to database information that could make everybody’s life a great deal easier.”

Chair of the IFA’s Insurance Specialist Interest Group, Kathy Jarret, supports the initiative.