AMP FP

Financial planning

Did AMPFP breach its duty to consult on BOLR change?

The changes brought in to adjust the BOLR policy were ‘simple’ and did not require extended consultation beyond a few days, according to a senior AMPFP executive....

Financial planning

AMPFP fearful of ‘BOLR run’ before policy change

AMP Financial Planning was critically concerned about a possible ‘BOLR run’ of more than 700 practices seeking to exit after the Hayne royal commission, according to Fede...

Financial planning

Court rules AMP ‘went too far’ with disproportionate BOLR change

A failure to provide a valid ‘legislation, economic, or products’ reason to make disproportionate changes to the BOLR policy forms the crux of AMP Financial Planning’s de...

Financial planning

AMP BOLR class action verdict delivered

The verdict in the class action case against AMP Financial Planning has been delivered in the Federal Court by Justice Moshinsky....

Top 100

Adviser numbers reach new lows

Money Management’s 2021 TOP Financial Planning Groups survey has confirmed that the number of financial advisers operating under the umbrellas of the largest groups has d...

Financial planning

AMP to launch new fee model

AMP’s new service model will allow the release of institutional ownership and will cease buyback arrangements, but advisers have until the end of the year to leave the ne...

Financial planning

Advisers exiting, licensees closing down

More than 200 adviser roles have been lost year to date compared to 761 lost roles in the first quarter of 2020, according to HFS Consulting’s analysis. ...

Financial planning

AMP FP falls through 800 adviser mark

AMP Financial Planning has seen its adviser numbers drop below 800 this week, according to HFS Consulting....

Financial planning

Women still largely underrepresented among planners

Almost 80% of financial planners, who are registered under the Australian Securities and Investments Commission’s Financial Adviser Register, are men. ...

Financial planning

AMP FP sees adviser numbers drop below 1,000

The biggest financial planning group in Australia, AMP Financial Planning, has lost 157 advisers so far this year bringing its total adviser complement to less than 1,000...

Financial planning

AMP FP loses MDA license rights

The Australian Securities and Investments Commission has announced that AMP Financial Planning has been required to stop providing managed discretionary account services....