How Should a Mortgage Broker Refer a Client for Life Insurance?
Written by Christopher Hall, AdvDipFP | Authorised Representative, AFSL 526688 | August 2026
Last verified: August 2026
A mortgage broker has six realistic ways to handle a client's life insurance — an aggregator's in-house arrangement, a bank or super fund service, leaving the client to go to market alone, a generalist financial planner, a specialist life risk adviser, or doing nothing at all — and the difference between them shows up long after the introduction is made. Three service providers that approached Arrow Equities in July 2026 about partnering on insurance referrals each reported closely similar figures: only around 10 per cent of their enquiries ever became implemented clients, and roughly two-thirds fell over before the insurer had even issued an underwriting decision. Those are the providers' own figures, as reported to Arrow Equities. This article sets out what each referral route actually does for a broker's clients and their trail income, what the adviser Code of Ethics says about reciprocal arrangements, and what to look for in an adviser worth a long relationship.
Why does a mortgage broker need an insurance referral option at all?
A client who has just settled a loan has taken on the largest debt of their life and, in most cases, has not revisited their personal cover since before the application. The broker is the professional standing closest to that moment, and the question of who pays the loan if the borrower cannot is squarely inside the conversation the broker has already been having.
The route the broker chooses is not a neutral administrative decision. Some routes bring a second professional into the client relationship who sells the same services the broker does. Others introduce a service that never reports back. Both outcomes are borne by the broker, not by whoever ran the referral programme.
What are the options for referring a client, and where does each fall down?
Route | What it is | Where it falls down |
Aggregator in-house | The broker's aggregator or credit licensee operates or nominates an insurance referral service | No reporting mechanism and limited transparency; brokers frequently cannot tell whether a client was contacted, where an application reached, or whether they were paid |
Bank or super fund | The client is directed to the insurance arm of their fund or bank | Product range is limited to that institution's own offering; comprehensive advice is usually charged for and often bundled with wider financial advice the broker did not intend to trigger |
Client goes to market alone | Not an avenue the broker provides at all — the client is left to find and assess a direct or comparison-site policy themselves | Minimal underwriting is paid for in the premium; policy terms are generally narrower than adviser-distributed products; nobody is accountable for whether cover is ever put in place |
Generalist financial planner | A full-service advice practice takes the referral | Cross-selling risk — many operate or partner with an in-house mortgage capability |
Specialist life risk adviser | An advice practice writing life, TPD, income protection and trauma only | Narrow by design; it cannot help with anything outside insurance |
Nothing at all | The protection question is never raised | The most common outcome and arguably the worst — see below |
In the experience of Christopher Hall, AdvDipFP, Authorised Representative, AFSL 526688, across more than 500 policy reviews, the failure most often reported by brokers operating under an aggregator arrangement is not a bad outcome but no outcome at all. Brokers describe an online-only process with no feedback loop, no view of where an application sits, and no confirmation that a client was ever contacted. That opacity has become more expensive over the last two years, because the underwriting process itself has lengthened considerably.
What happens when nothing is done at all?
The sixth option is the one that never appears on a list of options, because nobody chooses it deliberately. The protection question is simply never raised, and the client proceeds to settlement with whatever cover they happened to hold beforehand — which, for most people, means default cover inside superannuation, or none.
That is arguably the worst of the six, and it is a loss on three separate accounts at once. The client is left uninsured or, far more commonly, materially underinsured against a debt that has just increased — and if the unexpected happens, they cannot service or maintain the loan. The asset the client has just bought is then at risk. And the broker's trail income on that loan is at risk with it, because a loan that cannot be serviced does not stay on the book.
Nothing about that outcome announces itself. There is no failed application to review and no complaint to answer, which is precisely why it is the easiest of the six to end up with by default rather than by decision.
Can a mortgage broker and a life insurance adviser have a reciprocal referral arrangement?
This is the question brokers ask most often, and the answer has two halves — one regulatory, one commercial.
The regulatory half concerns advisers, not brokers. Financial advisers in Australia are bound by the Financial Planners and Advisers Code of Ethics 2019, which commenced on 1 January 2020. Standard 3 is not a general caution about conflicts — it names referral explicitly:
"You must not advise, refer or act in any other manner where you have a conflict of interest or duty."
— Standard 3, Financial Planners and Advisers Code of Ethics 2019
An occasional introduction is one thing. A standing, repeatable commercial arrangement under which two parties agree to send each other business is a different proposition entirely, and it is the standing arrangement that raises the conflict question. Arrow Equities ended the reciprocal arrangements it held with other licensed advisers when the Code commenced.
That reading was not left to inference. When the Financial Adviser Standards and Ethics Authority — the body that wrote the Code, before its functions passed to ASIC and Treasury — issued draft material for the financial adviser exam in 2019, it included a worked example on exactly this arrangement. The example treated a standing reciprocal referral relationship as a direct breach of Standard 3 — not as a conflict capable of being managed or disclosed away — and drew a second standard in alongside it.
Source note: this example is recorded from Christopher Hall's direct recollection of FASEA's 2019 draft exam material, verified by him. FASEA was wound up at the end of 2022 and that draft material is no longer published at its original location, so it is presented here as an attributed practitioner account rather than as a citation to a currently retrievable document. The wording of Standards 3 and 12 quoted on this page is taken from the Code itself.
That second standard is the one brokers tend not to expect, and it is the one that changes the calculation:
"Individually and in cooperation with peers, you must uphold and promote the ethical standards of the profession and hold each other accountable for the protection of the public interest."
— Standard 12, Financial Planners and Advisers Code of Ethics 2019
That is a positive obligation, and the FASEA example carried it to its conclusion: other advisers and professionals who become aware of such an arrangement are expected to report it. A reciprocal referral deal is therefore not a private matter between the two parties inside it — it is something their peers are obliged to act on.
Once that is explained, most brokers reach the same conclusion without much persuasion. There is no commercial upside in being drawn into someone else's compliance problem, a disciplinary proceeding, or a list of names in the financial press. Declining the arrangement is the more prudent and pragmatic position, and the brokers who understand it treat it as a mark in the adviser's favour rather than a refusal.
What the commercial half looks like when it goes wrong
The regulatory argument is the one written down. The commercial one is the one Arrow Equities has actually watched happen, several times over the past decade, and it follows a recognisable sequence.
An advice practice is taking referrals from a number of mortgage brokers. It then takes a capital injection, changes ownership, or forms a partnership with one of them — sometimes a shared office, sometimes equity, sometimes a new company or subsidiary formed between the two. For the adviser this is a rational move, particularly for someone operating under a dealer group or as an employee who wants a practice of their own: one strong referral relationship becomes the backstop of the new venture.
The cost lands on every other broker who was referring in. Their clients now sit inside a business with an in-house mortgage capability, and in time those clients are offered refinancing through it. The brokers who were never the major referrer are the ones exposed, and they generally find out after the fact.
In Christopher Hall's observation this has happened often enough to read as a standard progression rather than an aberration — it has been a recognisable template among advice practices for more than a decade. It is the specific reason Arrow Equities runs a deliberately narrow, siloed model: many referrers coming in, none going out. A broker referring into a practice that has nothing to cross-sell and no mortgage capability of its own is not exposed to that sequence at all.
It is worth being precise about who this binds. The Code of Ethics applies to relevant providers of personal financial advice. It has never applied to mortgage brokers, whose own obligations sit under the credit legislation. So the reason a compliant adviser declines a two-way arrangement is an obligation on the adviser's side of the introduction, not a rule the broker has breached.
The commercial half is the part brokers find more persuasive.
Why does Arrow Equities not refer clients out to mortgage brokers?
Arrow Equities takes referrals from mortgage brokers and does not send clients out to them. That looks, at first glance, like a one-sided arrangement. In practice it is the opposite.
If the practice ran a two-way programme, it would over time be sending one broker's client to a different broker for a refinance. Across a national referral network that outcome is close to arithmetic: the practice would eventually be cannibalising the book of the person who made the introduction in the first place, and taking with it the trail income attached to that loan.
The practice is built around holding a client for ten to fifteen years, which makes the referring broker's relationship worth more than any single reciprocal deal. When a client raises a refinance, an accounting question or another financial need at an annual review, they are sent back to the broker who introduced them — and told that broker is the person to go to for that part of their financial life.
For a broker, that turns a life insurance adviser into something other than a lead source. It becomes a service line the broker never has to put on payroll, working to protect the trail income rather than compete for it.
When should the referral be made?
After settlement, not during the loan application.
Once the loan is done there are fewer moving financial variables, and an adviser can build a more accurate picture of what the household actually needs. A referral made mid-application adds an underwriting process to a client who is already assembling documents for a lender, and the insurance work is the one that gets abandoned.
The questions worth asking a broker before settlement sit in the same conversation; the protection question simply comes immediately after it rather than in the middle of it.
Why do so many insurance referrals never become policies?
Applications rarely fail at the loading or exclusion stage. They fail earlier — at the first or second obstacle, when nobody is chasing the blood test, the specialist's letter or the underwriter's unanswered call.
The underwriting environment has become materially more thorough than it was in prior decades, as insurers responded to a changed claims picture — more mental health claims, and more income protection and TPD claims — and repriced accordingly. An application with a complicated medical history can now run nine to twelve months, often waiting on a scheduled medical procedure.
In Christopher Hall's experience across more than 500 policy reviews, the underwriting landscape has inverted over the past decade: where once 10 to 20 per cent of applications carried exclusions or loadings, today only 10 to 20 per cent proceed without them. Most are routine and not worth contesting — a build-related loading, for instance. The ones that matter are where an adviser who knows how to present a case to an underwriter can change the terms materially. On an adult ADHD diagnosis, Arrow Equities has had broad mental health exclusions significantly narrowed by taking the case to the underwriter directly, though what is achievable always comes down to the individual's own circumstances.
The relevance to a broker is structural rather than technical. An employee working to a completion metric has every reason to let a twelve-month application go. A practice owner whose next referral depends on the outcome does not.
What are the limits of insurance advice from a superannuation fund?
Advice bundled with an industry super fund membership is generally confined to that fund's own products — a much smaller universe than the retail market. It is not in the nature of any business to volunteer what it does not sell, so the limits are rarely stated at the outset.
Three of those limits are structural rather than commercial, and they come from the Superannuation Industry (Supervision) Regulations rather than from any fund's preference. Since 1 July 2014, a trustee has been prohibited from providing insured benefits that are not consistent with the conditions of release for death, terminal medical condition, permanent incapacity and temporary incapacity (ATO and APRA guidance on the SIS Regulations). In practice that means:
TPD inside super is written on an any-occupation basis. For a specialist doctor or a tradesperson, that is a materially different promise from own-occupation cover — a difference explored in detail in the TPD definition a policy is written on.
Income protection inside super is similarly constrained, which matters most for anyone whose income rests on years of specific training.
Trauma cover generally cannot be held inside superannuation at all for cover commencing after 30 June 2014. Members who joined a fund and held that cover before 1 July 2014 are grandfathered.
The third is the limit most people have never heard. Heart attack, stroke and cancer are precisely the events most Australians now survive — and surviving still costs months of appointments and time away from work. That is the gap trauma cover fills, and it is the one a super fund generally cannot.
There is a fourth limit that is not structural at all. Where a fund does offer comprehensive personal advice, it is usually charged for and often delivered as broader financial advice rather than insurance advice alone — which can cut directly across what the referring broker intended.
For clients who want to test whether their existing arrangement is adequate, how much default cover a super fund actually provides is the starting point.
Why those limits are almost never mentioned in the conversation
The limits above are legislative, and they are published. What a client actually experiences is narrower than that, and the cause is licensing rather than legislation.
A person giving general advice inside a fund or an insurer is frequently not authorised to discuss the products their employer does not offer — and that is a reasonable position rather than a criticism. Personal advice on trauma cover, on own-occupation TPD, or on income protection held through a superlinked structure requires specific qualifications, authorisations and licensing. Someone without them cannot raise it, so they do not. No rule obliges a business to tell a client that the missing piece exists somewhere else, and no business volunteers what it does not sell.
What that leaves is a client who believes they have had a comprehensive insurance conversation when they have had part of one. The absence is invisible, because the person on the other end of it was never in a position to describe it.
In Christopher Hall's experience across more than 500 policy reviews, this gap is almost never discovered at the point of advice. It is discovered at claim. A client is diagnosed with cancer, or survives a heart attack or a stroke, mentions it to a friend who was paid out on a trauma policy, calls their fund or insurer to make the same claim — and learns the cover was never there.
At that point the position is usually permanent. Someone who has just been diagnosed will not now be underwritten for the cover they believed they already held. That is the difference a broker is actually choosing between: not two referral partners, but whether the client's protection question is answered by someone licensed to describe the whole of it.
What has the regulator found about super funds and insurance?
Accountability is easier to assess against a public record than against a brochure. ASIC's enforcement and review work over the past decade provides one.
In March 2025 ASIC published Report 806, Taking ownership of death benefits, following a review of ten superannuation trustees. Not one of the ten was monitoring how long its own death benefit claims took from end to end. ASIC also found that 27 per cent of the claim files reviewed involved poor customer service, that 78 per cent of delayed claims were delayed by trustee-controlled processing issues, and that the fastest trustee closed 48 per cent of claims within 90 days against the slowest at 8 per cent (ASIC, 2025, REP 806).
Enforcement outcomes in the same period include a $27 million Federal Court penalty against AustralianSuper for failing to merge multiple member accounts, affecting approximately 90,700 members at a cost of around $69 million (ASIC, 2025, 25-017MR), and a $23.5 million penalty against United Super Pty Ltd, trustee of Cbus, for failures in processing death benefit and insurance claims affecting 7,402 claimants and members (ASIC, 2025, 25-286MR).
One outcome is directly about insurance a member thought they held. In September 2025, Retail Employees Superannuation Pty Ltd paid $37,560 to comply with two ASIC infringement notices after issuing annual statements and emails telling more than 2,000 members they held active death, TPD and income protection cover — when those members had cancelled it, declined it, or lost it. ASIC alleged Rest represented a right to activate cover and deduct premiums "in circumstances where Rest had no such right" (ASIC, 2025, 25-218MR). Payment of an infringement notice is not an admission of guilt or liability.
A second is directly about how bundled advice is described. In 2019, HostPlus Pty Ltd paid a $12,600 infringement notice after a recorded telephone message described advice available to members through an Industry Fund Services planner as "independent" — while Hostplus staff were authorised representatives under the IFS licence, Hostplus paid IFS service fees, and Hostplus held a shareholding in the IFS parent company (ASIC, 2019, 19-106MR). The conduct concerned ran to March 2018 and the notice is not an admission of liability, but it illustrates why the word carries a restriction under section 923A of the Corporations Act 2001.
These are matters of public record about specific entities on specific conduct. They are not a statement about how any fund operates today, and the list is not exhaustive — it reflects releases located in research, not a complete survey of ASIC's enforcement database.
What the regulator's findings look like to one family
A regulator describes systems. An adviser sees what those systems produce.
In 2015, Arrow Equities dealt with a death benefit inside superannuation that was still unpaid more than a year after the death certificate had been provided — while the same family's adviser-arranged policy had paid within weeks of that identical certificate. On a death claim the certificate settles the question; there is nothing further to establish, and no assessment of occupation, capacity or medical history stands in the way.
That case is a decade old, and that is the point of including it. ASIC's 2025 review found that none of the ten trustees examined were monitoring how long their own death benefit claims took. The 2015 experience says the delays that review documented are not a recent development. The fund is not named, because the argument is not about one fund's conduct — it is about what a broker should weigh when deciding where a client's protection question goes, and about who is accountable for chasing a claim that has stalled.
What should a broker look for in a life insurance adviser?
An adviser who owns their own practice is a sound starting point. It lowers the risk that the adviser leaves the industry, that the book is sold with the clients inside it, or that a new in-house mortgage offering appears and the referring broker's own clients are quietly routed into it — something Arrow Equities has observed repeatedly since 2016.
Specialisation is the second marker. There are relatively few specialist life risk advisers in Australia. A more focused practice tends to hold better working access to insurers; the products do not change, but the client's experience of getting through the process does. Arrow Equities advises across a panel of leading Australian insurers including TAL, Zurich and OnePath, among others.
Continuity is the third. A complicated medical history can take nine to twelve months to underwrite. A client should not have to repeat that history to a new person because the last one moved on after eighteen months — and personal medical information is not a subject anyone wants to re-explain to a call centre.
What does a broker actually get back?
Where the client consents, Arrow Equities works from the fact find the broker has already completed, so the client is not asked to assemble their financials a second time — and the broker gets the credit for having saved them the work.
From there the broker is kept informed of where the application stands, without any medical information being disclosed. When a policy is in force and paid, the broker is told immediately and issued a recipient-created tax invoice listing the clients implemented and the premiums, with payment made into the broker's account. Brokers who do not want referral payments simply receive confirmation that their client has been looked after. Brokers referring consistently are given a shared view of the pipeline so their administration staff can see where each client sits.
How should a broker introduce the conversation?
The introduction that works is the one straight after settlement. The broker congratulates the client on the approval and the move, then puts the position plainly: the client has taken on a significant debt that has to be repaid, and life insurance is what keeps the assets behind it in the family's hands if the unexpected happens. The broker then offers to put the client in touch with an adviser for a review of what they hold.
That framing works because it is continuous with the conversation the broker has already had, rather than a new sales approach appended to it.
What actually determines whether a referral relationship lasts?
The variables that decide this are not the ones usually discussed at the point a referral arrangement is set up.
The first is whether the adviser's business model competes with the broker's. A practice that writes insurance only has nothing to cross-sell; a practice with a wider offering has a commercial reason to look at the loan at the first or second annual review.
The second is whether anyone is accountable for finishing the work. An application that stalls costs the broker a client relationship that was warm at the point of introduction and is cold three months later. The question worth asking is not what the conversion rate is, but who chases the outstanding medical evidence when the client does not.
The third is where the client goes when the next financial question arises. A referral partner who routes that question back to the broker is reinforcing the relationship; one who answers it themselves, or hands it to a colleague, is not.
Roughly 90 professionals refer clients to Arrow Equities — mortgage brokers, accountants, SMSF specialists, buyers agents and real estate agents — and the longest of those relationships has been running for more than eight years. Brokers considering how insurance referrals fit alongside how brokers build revenue and retain clients may also find the wider context in the cover that sits behind a new mortgage useful, and the practical starting point for any existing policy is the insurance premium review process.
Frequently Asked Questions
Can a mortgage broker and a financial adviser have a reciprocal referral arrangement in Australia?
An occasional introduction differs from a standing arrangement to exchange business. Standard 3 of the Financial Planners and Advisers Code of Ethics 2019 states that an adviser must not advise, refer or act in any other manner where they have a conflict of interest or duty — referral is named in the standard itself. FASEA's 2019 draft exam material included a worked example treating a standing reciprocal arrangement as a direct breach, with Standard 12 obliging other advisers to report it. The Code binds advisers, not brokers, so a broker declined a reciprocal deal has not breached anything.
Does a mortgage broker get paid for a life insurance referral?
A referral payment is possible where the arrangement is properly documented and disclosed. Arrow Equities issues a recipient-created tax invoice once a policy is in force and paid, listing the clients implemented and the premiums, with payment made to the broker. Brokers who do not want referral payments receive confirmation of implementation instead. The commercial arrangement is separate from the advice the client receives, which is given on its own merits.
When is the best time for a broker to refer a client for life insurance?
After settlement rather than during the loan application. Once the loan is complete there are fewer moving financial variables, and an adviser can assess what the household actually needs more accurately. A referral made mid-application adds a second document-gathering process to a client already assembling material for a lender, and it is usually the insurance work that is abandoned.
Why do aggregator in-house insurance referral services frustrate brokers?
The complaint reported to Arrow Equities is not usually about a bad outcome but about the absence of one. Brokers describe an online-only process with no reporting mechanism, no visibility of where an application has reached, and in some cases no confirmation that the client was contacted at all. That opacity has become more consequential as underwriting has lengthened, because an application that stalls is invisible until the client has moved on.
What is the biggest risk of relying on the insurance inside a super fund?
Not the cover amount — the risk is discovering the gap at claim, when it can no longer be fixed. Trauma cover generally cannot be held inside super, TPD is written on an any-occupation basis, and the person who explained the cover was often not licensed to mention what was missing. Someone diagnosed with cancer who then learns trauma was never there cannot be underwritten for it now. The second risk is time: ASIC's 2025 review found none of ten large trustees monitored how long their own death benefit claims took.
Why did my super fund never mention trauma insurance?
Usually because the person giving the advice was not authorised to. Personal advice on trauma cover, own-occupation TPD or superlinked income protection requires specific qualifications, authorisations and licensing, and someone without them cannot raise a product their employer does not offer. No rule requires a business to say that the missing piece exists elsewhere. The result is a client who believes they have had a comprehensive conversation when they have had part of one — and who usually finds out at claim.
What happens if the adviser a broker refers to partners with another mortgage broker?
Arrow Equities has watched this sequence several times over the past decade: an advice practice taking referrals from several brokers takes a capital injection, an ownership change, or a partnership with one of them, sometimes through shared premises, equity or a new company. Every other referring broker's clients then sit inside a business with an in-house mortgage capability, and in time are offered refinancing through it. The brokers who were not the major referrer are the ones exposed, and they generally find out afterwards.
Can trauma insurance be held inside superannuation?
Generally not for cover commencing after 30 June 2014. Since 1 July 2014 the Superannuation Industry (Supervision) Regulations have prohibited a trustee from providing insured benefits inconsistent with the conditions of release for death, terminal medical condition, permanent incapacity and temporary incapacity, and trauma is not among them. Members who joined a fund and held that cover before 1 July 2014 are grandfathered. Trauma cover is generally held outside super instead.
Is the insurance advice from a super fund limited to that fund's own products?
Advice bundled with fund membership is generally confined to the fund's own offering, which is a smaller universe than the retail market. There are also structural limits set by legislation rather than commercial choice: TPD inside super is written on an any-occupation basis, and trauma cover generally cannot be held inside super for cover commencing after 30 June 2014. Where a fund offers broader personal advice, it is usually charged for.
What proportion of life insurance referrals actually result in a policy?
Three service providers that approached Arrow Equities in July 2026 about partnering on insurance referrals each reported closely similar figures: only around 10 per cent of their enquiries became implemented clients, and roughly two-thirds fell over before an underwriting decision was issued. Those are the providers' own figures as reported to Arrow Equities, not an industry measurement, and they describe those providers' processes rather than the market as a whole.
What happens if a broker never raises the insurance question at all?
The client proceeds to settlement with whatever cover they held beforehand — for most people, default cover inside superannuation, or none. That leaves them uninsured or materially underinsured against a debt that has just increased, unable to service or maintain the loan if the unexpected happens. The asset is then at risk and so is the broker's trail income on that loan. It is the easiest of the six options to arrive at by default rather than by decision, because nothing about it announces itself.
Why do life insurance applications stall before the insurer decides?
Because the outstanding items are not chased. An application with a complicated medical history can run nine to twelve months, frequently waiting on a scheduled medical procedure, a specialist's letter or a blood test. Applications rarely fail at the loading or exclusion stage — they fail earlier, when nobody is following up the evidence the underwriter has asked for.
How many life insurance applications come back with a loading or an exclusion?
In Christopher Hall's experience across more than 500 policy reviews, the position has inverted over the past decade: where once 10 to 20 per cent of applications carried exclusions or loadings, today only 10 to 20 per cent proceed without them. Most are routine. The cases where an adviser's involvement changes the terms are those where the underwriter's initial position can be reconsidered on further medical evidence.
What should a mortgage broker check before choosing an adviser to refer to?
Whether the adviser owns the practice, whether the practice is specialised in life risk insurance, and whether it has anything to cross-sell. Practice ownership reduces the risk that the adviser leaves, that the book is sold with the clients in it, or that an in-house mortgage capability appears later. Specialisation affects how well the practice navigates underwriting. A practice writing insurance only has no commercial reason to look at the client's loan.
Does Arrow Equities refer clients out to other mortgage brokers?
No. Across a national referral network, a two-way programme would eventually send one broker's client to a different broker for a refinance, cannibalising the book of the person who made the introduction. When a client raises a refinance or another financial need at an annual review, they are sent back to the broker who introduced them.
What has ASIC found about superannuation funds and insurance claims?
In March 2025 ASIC published Report 806 after reviewing ten superannuation trustees, finding that none monitored end-to-end death benefit claims handling times and that 78 per cent of delayed claims were delayed by trustee-controlled processing issues. Separate enforcement outcomes include a $27 million penalty against AustralianSuper over multiple member accounts and a $23.5 million penalty against the Cbus trustee over claims processing failures. These are matters of public record about specific entities and specific conduct.
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About the author
Christopher Hall, AdvDipFP, is the principal financial adviser at Arrow Equities and an Authorised Representative under AFSL 526688. He has completed more than 500 life insurance policy reviews for Australian families, with a specialisation in life risk insurance.
Sources
# | Source | Type | Year |
1 | Financial Planners and Advisers Code of Ethics 2019 (F2019L00117), Standards 3 and 12, in force 1 January 2020 — Federal Register of Legislation | Legislative instrument | 2019 |
1a | Financial Adviser Standards and Ethics Authority, draft financial adviser exam material — worked example on standing reciprocal referral arrangements. Recorded from Christopher Hall's direct recollection and verified by him; FASEA has since been wound up and the draft material is no longer published at its original location | Attributed practitioner account | 2019 |
2 | ASIC, REP 806 Taking ownership of death benefits: How trustees can deliver outcomes Australians deserve (25-049MR) | Regulator report | 2025 |
3 | ASIC, 25-017MR AustralianSuper fined $27 million after ASIC investigation into failing to merge multiple superannuation accounts | Regulator media release | 2025 |
4 | ASIC, 25-286MR Cbus ordered to pay $23.5 million penalty for serious failures in processing members death benefits and insurance claims | Regulator media release | 2025 |
5 | ASIC, 25-218MR Rest pays two infringement notices in relation to insurance failures | Regulator media release | 2025 |
6 | ASIC, 19-106MR Super fund removes 'independent' financial advice message and pays penalty | Regulator media release | 2019 |
7 | Australian Taxation Office and APRA guidance on the Superannuation Industry (Supervision) Regulations 1994 — insured benefits and conditions of release from 1 July 2014 | Regulator guidance | 2014 |
8 | Corporations Act 2001 (Cth), section 923A — restrictions on use of the term "independent" | Legislation | 2001 |
9 | Christopher Hall, Arrow Equities — 500+ life insurance policy reviews | Practitioner dataset | 2026 |
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