BOSS expands its research
Life insurance research group BOSS has expanded the scope of its re-search service to include factors which give advisers insight into the sustainability of products and their pricing.
Life insurance research group BOSS has expanded the scope of its re-search service to include factors which give advisers insight into the sustainability of products and their pricing.
Under a deal with Plan for Life managing director Simon Solomon, BOSS will hold exclusive rights to research on reserve strengths, expense ratios and profitability of life insurance groups.
BOSS managing director Daryl Curie says the move is the first move by a research group to measure the sustainability of risk products.
He says the research will be aimed at high end financial planners who are used to receiving information on the structure of funds manage-ment companies when making decisions on which funds to recommend to clients.
"We are now in an era where dealer groups are looking at risk prod-ucts as an integral part of a financial plan," Curie says.
One of the drivers of that trend is the upcoming CLERP legislation which is expected to motivate dealer principals to offer both re-search on risk products as well as the traditional funds management research as advisers will tend to look for a dealer group which is licensed for both risk and securities trading.
Curie acknowledges there has been rumblings from some quarters within the life insurance industry that research in the past has focussed solely on pricing and features.
"There is a feeling that if you are truly going to compare apples with apples, there are a number of factors outside pricing and features to comprehend," he says.
Recommended for you
ASIC has released the results of its first adviser exam to be held in 2025, with 241 candidates attempting the test.
Quarterly Wealth Data analysis has uncovered positive improvements in financial adviser numbers compared with losses in the prior corresponding period.
Holding portfolios that are too complex or personalised can be a detractor for acquirers of financial advice firms as they require too much effort to maintain post-acquisition.
As the financial advice profession continues to wait on further DBFO legislation, industry commentators have encouraged advisers to act now in driving practice efficiency.
