AMPFP embraces aggressive growth plan
“We added 27 new practices to our dealer group in 2007-08 and more than 200 planners, and that’s the sort of scale we are hoping to achieve again this year.”
To meet this objective, AMPFP is “going just as hard this year in pursuing growth in our scale and distribution as we would have done in any other time”, he said.
“To me, shrinking in these times is counter-intuitive because we are well positioned in the context of our performance.
“It’s also our view that there are currently many more consumers who wish to seek financial advice than there are financial planners available.”
Guggenheimer said it has “become very clear to us is that clients want to engage with financial planners in uncertain times".
“They are seeking advice on a [range] of things, such as their investments, insurance, retirement planning, and accumulation considerations.”
He said there’s a “real opportunity for us to benefit from this increased demand for advice in uncertain times, if we can manage our cost base".
"Accordingly, we’ve been very careful, we are only spending on things we need to spend on while continuing to invest in the future.”
Recommended for you
AMP CEO Alexis George has said addressing Australians’ retirement concerns should be "front and centre for policymakers” after its research revealed only half of Australians are confident about their retirement.
LGT Crestone has announced a rebrand, marking a “decisive milestone” following its acquisition of Commonwealth Bank’s high-net-worth financial advisory business in June.
The launch of a low-cost menu for BT Panorama will allow advisers to service a wider range of clients from one platform and potentially run a more profitable business, according to specialist Recep Peker.
Retail investment into private credit funds could surpass that of sophisticated investors, according to ASIC, but the regulator admits it is unsure how and where these individuals are first being introduced to the vehicles.
