PIS leads life cover sales survey


Robbie Bennetts
Dealer group Professional Investment Services posted the highest insurance sales in Australia during the December quarter last year, according to a survey by NMG Financial Services Consulting (NMG).
The global consultant’s Risk Distribution Monitor survey revealed PIS sales during the quarter were $1.5 million ahead of nearest competitor ING dealer group Millennium3.
PIS chief executive Robbie Bennetts described the result as an “outstanding achievement”, considering insurance had only become part of PIS’ core repertoire after it bought IFMA from Norwich Union in 2000.
“It’s a credit to our team that in such a relatively short time frame we are a force to be reckoned with in the highly competitive life insurance market in Australia.”
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.