Financial Standard Comments - AMP scales advice for affordability AMP has announced a new scalable advice model aimed at creating an affordable product to attract investors who would normally bypass advisers. https://www.financialstandard.com.au/feed/latest?story=12114475 Thu, 21 Jul 2011 22:08:17 +1000 Thu, 21 Jul 2011 22:08:17 +1000 en-AU Copyright 2026 Financial Standard 5 Comment by Frank () Hello! Where has everyone been these last few years?
All advice is scoped. It is the very foundation of what the task is for the adviser. Many clients don't know at the outset, but an integral part of the advice process is determining the parameters around the advice required. It may take two or three meetings but at some stage the adviser must ask himself "What is the client asking me to do?"
Once the scope is established then it forms the very foundation for everything else that follows including the advice recommendations. It even determines the amount of information the adviser needs to obtain from the client as well as the costs of providing the advice.
All professional advice processes have a scope - from surgeons to lawyers. Wake up AMP and stop complicating a very simple process that is already in place and has been for decades.

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]]> Frank () Thu, 21 Jul 2011 22:08:17 +1000