Advisers to bear brunt of AMP failingsBY JAMIE WILLIAMSON | FRIDAY, 9 AUG 2019 12:27PM
AMP advisers planning to exercise their Buyer of Last Resort (BOLR) arrangements look set to have their business valuations slashed as part of the institution's new strategy.
Read more: AMP, Financial Standard, Francesco De Ferrari, AMP Bank, Rainmaker
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The managing director of an AMP-aligned dealer group is exiting the business to take on a new role.
BT Financial Group has shut down a $670 million global property fund and a $293 million Asian shares fund, as it sees them unsuitable for retail investors.
Perpetual has confirmed the appointment of a head of risk, promoting from within to fill the newly created role.
A $5.6 billion industry superannuation fund is revamping its MySuper option, which will see default members' exposure to growth assets and fees rise.
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