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Showing 21 - 30 of 53 results for "Buyer of Last Resort"

Lazard dumps AMP shares

ELIZABETH MCARTHUR  |  TUESDAY, 4 AUG 2020
... Planning advisers also filed their own class action against the company last week over its decision to slash Buyer of Last Resort Valuations. AMP was already facing class actions in relation to superannuation and alleged fees for no service from Maurice ...

Advisers file class action against AMP

JAMIE WILLIAMSON  |  WEDNESDAY, 29 JUL 2020
... action has been filed against AMP by its own advisers in relation to the institution's decision to slash Buyer of Last Resort valuations last year. Almost one year on from the news BOLR valuations would be cut from 4x recurring revenue to a maximum ...

AMP advisers low priority for ASIC

ELIZABETH MCARTHUR  |  WEDNESDAY, 15 JUL 2020
Senator Deborah O'Neil has revealed she was told by ASIC that AMP's Buyer of Last Resort (BOLR) agreements being altered and subsequently slashing the value of advice businesses was not a priority for the regulator. In a letter to the chair of the Parliamentary ...

Calls to investigate treatment of AMP advisers

ELIZABETH MCARTHUR  |  FRIDAY, 26 JUN 2020
... pressure from a Senator to look into AMP's treatment of financial advisers, including reducing the value of its Buyer of Last Resort (BOLR) agreements. Labor senator for NSW Deborah O'Neill has written to ASIC chair James Shipton, urging him to investigate ...

ASIC mainly concerned with media releases: Lawyer

ELIZABETH MCARTHUR  |  TUESDAY, 9 JUN 2020
... find their livelihoods in a strangle hold by big business. He points to platforms turning off fees and AMP's Buyer of Last Resort changes as examples of this and, he added, the Royal Commission's focus on advisers and licensees ignored the ways product ...

AMP defends hefty remuneration bill

ELIZABETH MCARTHUR  |  FRIDAY, 8 MAY 2020
... service clients." Again, when asked how many business and clients were impacted by AMP's decision to slash Buyer of Last Resort agreements De Ferrari chose not to get too specific. He confirmed about 260 practices are seeking to enact their BOLR ...

Advice practices urged to contact ombudsman

ELIZABETH MCARTHUR  |  WEDNESDAY, 6 NOV 2019
... and family enterprises being pushed out by financial advice licensees. Recent news about changes to AMP's Buyer of Last Resort agreements and a class action mounted against AMP Financial Planning appear to have gotten the attention of the ombudsman. ...

Adviser moves show industry upheaval

ELIZABETH MCARTHUR  |  TUESDAY, 5 NOV 2019
... Hewitt lost a significant proportion of its headcount, dropping from 149 advisers to just 44. Despite news of Buyer of Last Resort changes and advisers mounting a class action, AMP Financial Planning only lost 37 advisers over the last three months. ...

AMP extends adviser deadline

JAMIE WILLIAMSON  |  WEDNESDAY, 30 OCT 2019
... end. Following on from AMP's decision earlier this year to restructure its advice business and slash Buyer of Last Resort (BOLR) multiples, financial advisers who were given their notice by the institution have been given an additional month to consider ...

ASIC using intimidation tactics on grandfathering: AIOFP

ELIZABETH MCARTHUR  |  WEDNESDAY, 16 OCT 2019
... representing the AMP Financial Planners Association in its fight following AMP's decision to alter its Buyer of Last Resort policy. Johnston said Corrs Chambers Westgarth has indicated to him that the High Court action could assist the AMPFPA in ...