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“Insurance semantics misleading clients” March 6, 2014

Posted by Meike Suggars in In the media.
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Meike was featured today, 6/3/2014, in IFA Magazine in an article about Australian’s misunderstanding the insurance they have within their super.

“Poor life insurance terminology by superannuation funds is creating a false impression among clients that they will be covered in the event of an illness, says a risk adviser.

The comments by Suggars & Associates adviser Meike Suggars back up recent Zurich research which show Australians are ‘mis-informed’ about life insurance – and are either uninsured or ‘mis-insured’ as a result.

Ms Suggars said her clients are often misled to believe that the life insurance in their super fund will pay them in the event of illness.

“I think that’s because often a superannuation insurance statement will say that it includes terminal illness,” Ms Suggars said.

“But there is no further explanation in the statement as to what that means,” she said – adding that semantics and terminology are often at the heart of the confusion…”

Meike Suggars in IFA Magazne

IFA Magazine, 6 March 2014

Read full article here.

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“‘Cheap shot’ at upfront commission” November 27, 2013

Posted by Meike Suggars in In the media.
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Meike was quoted today, 27/11/2013, in Wealth Professional in an article about insurer sustainability and commissions.

Ever-savvy customers are shopping around for the best life insurance deals and advisers are getting “blamed” for being greedy with upfront commissions.

Last week, Suncorp managing director Patrick Snowball told a business lunch in Sydney that adviser business models have become reliant on high upfront commissions and this is unsustainable.

But Suggars & Associates risk adviser Meike Suggars, who has been in the risk industry for four years, told Wealth Professional if she had not been able to take upfront commissions she would not have been able to start up her business.

She disagrees upfront commissions are too high, and says although it is easy to blame advisers, the issue of insurance sustainability is much bigger than just commissions…”

Meike Suggars discusses commissions

Wealth Professional, 27 November 2013

Read full article here.

“RiskInfo Case Study: Mentoring” July 27, 2013

Posted by Meike Suggars in In the media.
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Meike was featured in RiskInfo in a case study looking at mentoring within the financial services industry.

“A shared interest in social media and technology led James Sutherland and Meike Suggars to embark on a mentoring relationship. Three years on, having both experienced significant growth in their personal and professional development, they share what they believe is the key to making a mentoring relationship work…

…Suggars and Sutherland met at an Association of Financial Advisers (AFA) Conference three years ago and immediately connected.  After chatting about all things social media, and having realised they could learn from one another’s experiences, they agreed to set up a regular, monthly catch-up.

“Our conversations generally involve bouncing ideas off one-another, and talking through challenges or opportunities within each of our businesses,” says Sutherland…”

Meike Suggars Mentoring Case Study Riskinfo

RiskInfo, July 2013

Read full article here.

“Future of finance is in younger advisers” July 8, 2013

Posted by Meike Suggars in In the media.
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Meike was featured today, 5/07/2013, in the Australian Financial Review magazine in a profile story covering her entry and early success in the financial advice industry.

“Meike Suggars was not initially interested in following her father Jeff Suggars’s footsteps into financial advice.

‘I did marketing at uni and Dad asked me when I was finishing up if I would like to join his business, at which point I quite rudely said, ‘No, I’ve just spent four years studying marketing, so that’s what I’m going to do,’ ’ she says.

After eight or nine years in that line of work, Suggars was ready for a change. She was living in London and wanted to come home.

‘I decided I wanted to explore other options than marketing, so the idea of working with Dad reared its head again,’ she says….”

Read the full article here.

Meike Suggars profile in AFR

Australian Financial Review, 5 July 2013

“Banks shift gears on technology spend” June 3, 2013

Posted by Meike Suggars in In the media.
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Meike was quoted today, 3/06/2013, in the Financial Standard in an article covering the use of technology in the delivery of financial advice.

“There is a role for large players and there is a role for smaller players in the industry, but in terms of providing scaled service and supporting advisers, you actually need to have a strong and robust infrastructure.”

Financial adviser Meike Suggars from Suggars & Associates says that she started using a tablet on December 2011 and has since then doubled the efforts to reduce paper in the office and work through online applications.

“I started in a paper-based business, but I soon wanted to use digital resources,” she says.

“Applications and technology are definitely improving the way we work today.”

 

Read full article here.

“Financial advisers recognised for social media strategy” November 16, 2012

Posted by Meike Suggars in In the media.
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Meike was mentioned today, 16/11/2012, in the Financial Standard in an article covering the first SMILEYS Awards.

“…’The Conversationalist’ Prize went to Sutherland, a self-confessed technology buff who’s behind the Association of Financial Advisers (AFA) social media push, alongside another financial adviser Meike Suggars…”

Read the full article here.

“AFA announces Rising Star finalists” October 3, 2012

Posted by Meike Suggars in In the media.
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Meike was mentioned today, 3/10/2012, in Money Management in an article announcing the finalists of the AFA Rising Star Award

The Association of Financial Advisers (AFA) has announced five finalists for its annual Rising Star of the Year Award, with the winner to be announced at the AFA National Conference on the Gold Coast on 28 October.

According to AFA the award, which is sponsored by OnePath and has been running since 2005, “recognises the best new advisers who provide quality, holistic advice; demonstrate a commitment to education and make a valuable contribution to their industry and to their community”.

AFA chief executive Richard Klipin said the commitment and capability of this year’s finalists demonstrated that the future of the profession was in good hands…”

Meike Suggars Rising Star Money Management

Money Management, 3 October 2012

Read full article here.

“2012 AFA Rising Star Finalists Announced” October 3, 2012

Posted by Meike Suggars in In the media.
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Meike was mentioned today, 3/10/2012, in RiskInfo in an article about the AFA Rising Star of the Year award finalists.

The Association of Financial Advisers (AFA) has announced the finalists for its 2012 Rising Star of the Year Award.

Four out of five finalists hail from Victoria, with Western Australia the only other state represented in the shortlist.

This year’s AFA Rising Star of the Year Award Finalists are:

  • Angus Gallagher – Knightcorp Life Insurance & Wealth Management (Western Australia)
  • Cameron Forbes – Forbes Financial Planning (Victoria)
  • Matt Hale – Financial Design for Life (Victoria)
  • Meike Suggars – Suggars & Associates (Victoria)
  • Scott Mitton – RI Advice (Victoria)…”
Meike Suggars Riskinfo

RiskInfo, 3 October 2012

Read full article here.

“AFA names Rising Star finalists” October 3, 2012

Posted by Meike Suggars in In the media.
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Meike was featured today, 3/10/2012, in the Financial Standard in an article covering the finalists of the AFA Rising Star Award 2012.

“The Association of Financial Advisers has named the five finalists in the 2012 Rising Star of the Year Award.

The Award is particularly about finding, showcasing and celebrating talent in advisers who are at the start of their careers and who have made a valuable contribution to their community and industry.

The 2012 finalists include Angus Gallagher at Knightcorp Life Insurance & Wealth Management, Cameron Forbes at Forbes Financial Planning, Matt Hale at Financial Design for Life Meike Suggars at Suggars & Associates and Scott Mitton at RI Advice.

Richard Klipin, chief executive of the Association of Financial Advisers said the Award continues to uncover great talent across Australia…”

Meike Rising Star in Financial Std

Financial Standard, 3 October 2012

Read the full article here.

“Financial advisers attack FSC, insurers, over commission clawbacks” August 13, 2012

Posted by Meike Suggars in In the media.
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Meike was quoted today, 13/08/2012, in Wealth Professional in an article about churn and commissions.

The financial planning community has come out in force to slam the FSC’s “ridiculous” plans to claw back life insurance commissions for policies that lapse within three years.

The FSC’s latest proposed anti-churning measures have opened up a can of worms amongst Australia’s financial planning community, many of whom are despairing at the potential financial punishment that they could face simply for doing their job properly…

…Commenting on Synchron director Don Trapnell’s suggestion that – should the FSC proposition to have a three-year responsibility period be universally adopted – Synchron will consider making a formal complaint to the ACCC for anti-competitive behaviour, Meike – Suggars & Associates, said the following:

“I’d support the complaint to ACCC. How are we meant to run a viable business if we can’t bank on income until 3 years after the work was done? That’s completely unrealistic and certainly does not work in the best interest of the client. They’ll be sent off to ‘direct insurers’ who are purely transactional and don’t offer the ongoing service that often results in a policy upgrade. Without this ongoing service, the client is likely to be left with a policy that no longer protects their circumstances the way it should…”

Meike Suggars on commission clawbacks

Wealth Professional, 13 August 2012

Read the full article here.