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The proposed deal between AMP and AXA Asia Pacific could see AMP as the dominant force in the financial planning marketplace, with the number of AMP-aligned planners doubling to 4,000 across Australia and New Zealand.
AMP chief executive Craig Dunn said the strength of both companies would create a new force in Australia and New Zealand, with financial advice at its heart.
“In addition to doubling the number of aligned AMP planners to more than 4,000 across Australia and New Zealand, this proposed transaction would substantially increase the number of relationships with non-aligned financial advisers.”
He added that the deal could strengthen AMP’s competitive capability, enabling it to offer an even stronger competitive wealth management alternative to the big four banks.
