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Russell Hutchinson
I'm the principal the Chatswood Consulting Limited, live and work in New Zealand.
Interests: Family, financial services management consulting, living a good life in New Zealand. I love to read, run, work out, and soon I may admit to gardening.
Recent Activity
There is a connection between regulation, remediation of clients that may have received poor or insufficient advice, and digital advice process. Good digital services, either no-advice or advice can be a powerful way to resolve the challenges of meeting conduct... Continue reading
Posted yesterday at moneyblog
Interesting: AIA Living has no minimum premium. Of course, there is a policy fee, effectively creating a minimum, but this ends a trend which started perhaps 30 years ago towards higher minimum premiums. A tactical reason for no minimum is... Continue reading
Posted 2 days ago at moneyblog
I plan to be there bright and early on Thursday morning and I am looking forward to the programme which includes the following keynotes: Hon Kris Faafoi Hagai Segal – Being Brave in an uncertain world Dominick Stephens – Economic... Continue reading
Posted 3 days ago at moneyblog
In Australia adviser business values have fallen from an average of a multiple of four times renewals to 2.5 times. Their new advice regime is different to ours, but the direction of travel for New Zealand is similar. Is a... Continue reading
Posted 3 days ago at moneyblog
The FSC have launched the full programme for the upcoming Towards Wellbeing conference on the 11th and 12th of September. It is going to be an outstanding event, bigger and better than last year. The content selection has grown considerably... Continue reading
Posted 4 days ago at moneyblog
You can find the analysts presentation for the nib full year results at this link. Continue reading
Posted 4 days ago at moneyblog
The FMA have released an announcement regarding the new financial advice regime exemptions, stating: This consultation considers three matters where we think it may be useful to continue existing Financial Advisers Act exemption relief to support effective operation of the... Continue reading
Posted 5 days ago at moneyblog
I'm going to use this one in a 'know your regulatory landscape' question at a workshop sometime. Name the members of the Council of Financial Regulators... In summary, as follows: The Council of Financial Regulators (CoFR) announced a new vision... Continue reading
Posted 5 days ago at moneyblog
On August 18 2004 this blog was started and since then I have learned a lot and enjoyed a lot more interesting conversations with you. Often something I write is found to be useful, controversial, or though provoking. Even the... Continue reading
Posted 6 days ago at moneyblog
From a disgruntled bank client, it isn't so much the error - a relatively minor one - its the inability to fix it: I am sure that everyone has their own story of an issue dealing with their bank. In... Continue reading
Posted Aug 15, 2019 at moneyblog
We have just distributed the new version of the Chatswood Premium Comparison database. This is version 10.5, which includes: Added new 'AIA Living' range as a new company for all benefits Updated Fidelity YRT Life, TPD, Trauma and Mortgage Protection... Continue reading
Posted Aug 14, 2019 at moneyblog
It has been announced that Suncorp New Zealand’s general and risk insurance businesses generated $261 million in net profit after tax (NPAT) for the year ended 30 June 2019 . The life insurance division made $44 million, a 12% increase... Continue reading
Posted Aug 13, 2019 at moneyblog
Asteron Life will increase direct communication with policy holders under a new plan to ensure more engagement. See this release: Onboarding communications will be a two-year programme of regular touchpoints with customers to help keep them engaged and informed about... Continue reading
Posted Aug 12, 2019 at moneyblog
Updating the life premium comparison database is a big job right now as we are creating the option to include or not the new AIA Vitality fee and discounts. Interaction between these and the multiple benefit discounts are essential to... Continue reading
Posted Aug 12, 2019 at moneyblog
Insurance products called "harmful", "worthless" and "extremely poor value for money" by Australian regulators are being sold in New Zealand according to this report by Nikki Mandow, posted on Newsroom. Mostly, these are policies are general insurance offered by finance... Continue reading
Posted Aug 11, 2019 at moneyblog
Why is this article about the Amazon relevant to insurance? Insurers in New Zealand list extreme weather events and the impact of climate change on low-lying coastal areas as a significant concern. If we chop down the rest of the... Continue reading
Posted Aug 9, 2019 at moneyblog
AMP's vision of the future appears to include fewer advisers and much more technology. The AFR reports on the strategic choices of the wealth manager in Australia. What this means for the wider advice sector it is hard to say... Continue reading
Posted Aug 9, 2019 at moneyblog
Congratulations to Partners Life, who received a 5-star rating on the Lewers Life Insurance survey. The annual survey is dedicated to studying the major Life Insurance companies that work alongside intermediaries and advisers both in Australia and New Zealand. Partners... Continue reading
Posted Aug 8, 2019 at moneyblog
William McInness writing at the Australian Financial Review, is reporting that AMP has just announced a new agreement with Resolution Life, as expected. Link. Key statement from the article: The firm also announced a revised agreement to sell AMP Life... Continue reading
Posted Aug 7, 2019 at moneyblog
This morning the FMA announced that it is offering seminars to SMEs on transitional licensing. The seminars are advertised on the main FMA webpage at With the seminar registration form available at Continue reading
Posted Aug 7, 2019 at moneyblog
AIA has announced additional commission to help push its new AIA Living range with Vitality. It has also clarified that commission is paid on the premium before applying the AIA Vitality discount. Asteron Life have announced that from the 19th... Continue reading
Posted Aug 7, 2019 at moneyblog
CIGNA's recent announcement: Since Cigna Corporation acquired the OnePath Life business at the end of November 2018 from ANZ Bank, OnePath has continued to provide cover to its policyholders as part of Cigna. Please be advised that we are intending... Continue reading
Posted Aug 6, 2019 at moneyblog
We are not done yet, and I don't mean in the strategic sense, that there is plenty left to achieve, although that remains true. There is plenty more opportunity in financial services. I mean in this specific case: on the... Continue reading
Posted Aug 4, 2019 at moneyblog
Tony Vidler has a series of challenge questions for advice suitability in this piece. His list is focused on an investment advice situation, below is my version, focused on an insurance advice situation. Does the advice address the scope agreed... Continue reading
Posted Aug 4, 2019 at moneyblog
The commission comparison for institutions that subscribe has been updated (to version 129) reflecting the changes made by AIA, Asteron Life, and Southern Cross. Please contact me for further information. Continue reading
Posted Aug 4, 2019 at moneyblog