Will we decline a quarter of IP applicants on their income source?
In the United Kingdom it has been found that 28% of adults with complex incomes are denied a home loan.¹
What is complex? That includes some on zero hours contracts and many self-employed people. For people on zero hours contracts the acceptance rate was worst of all: 46% would have a mortgage application declined.
That would severely penalise a household where an application was for a couple, one of whom is on a zero hours contract, not uncommon for someone who is on call – think of...MORE»
Life insurance products MIATuesday, July 9th, 11:26AM
Russell Hutchinson asks: What’s missing from the life insurance picture and comes up with a good list. MORE» |
KiwiSaver and Insurance: Assessing lifetime financial needsTuesday, April 9th, 6:00AM
As we approach a significant debate on whether insurance should be integrated into KiwiSaver, I personally feel we should shift our focus towards a more fundamental and engaging topic: the assessment of financial needs for one's entire life. MORE» |
The AI revolution in financial advice: A reality check
Russell Hutchinson looks asks whether artificial intelligence (AI) is a threat or a help to financial advisers.
MORE»I would do anything for life, but I won’t do that
The Financial Advice Association of Australia (FAAA) addressed a letter to the Australian Prudential Regulation Authority (APRA) concerning the Life Insurance Data Transformation consultation. What does this have to do with the New Zealand market? A lot, in fact. Australian regulation has been an exemplar, perhaps, of what not to do.
MORE»How to handle clients during the cost of living crisis
My favourite current quote is about averages. Something I picked up at MDRT recently: in one hand you hold a burning hot coal, straight out of the fireplace. In the other hand you hold a freezing block of ice, from a commercial deep freeze – very cold. On average you are fine!
MORE»Which is the riskier business? Advice or Product?
Russell Hutchinson ponders what is more risky: Giving advice or making products.
MORE»Why sales is more relevant than ever in an era of increased regulation
This question started when I heard Tony Gribble talk about the value of the Million Dollar Round Table, or MDRT, at an adviser meeting recently.
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