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Showing 1 - 10 of 33 results for "AMPFP"

AMP shakes up advice service model

KARREN VERGARA, JAMIE WILLIAMSON  |  MONDAY, 26 JUL 2021
Among the changes announced this morning, AMP is putting an end to all Buyer of Last Resort (BOLR) arrangements at the end of the year and giving advisers the freedom to leave the network with their clients from 2022. As part of a new service model ...

AMP, BT and CBA to face class action

ELIZABETH MCARTHUR  |  FRIDAY, 31 JUL 2020
... defend. The proceedings relate to financial advisers aligned with AMP Financial Planning and Hillross Financial Services. "AMPFP and Hillross are committed to complying with their obligations relating to ensuring their advisers act in the best interests ...

Advisers file class action against AMP

JAMIE WILLIAMSON  |  WEDNESDAY, 29 JUL 2020
... other class actions. Speaking to Financial Standard, The Advisers Association (TAA) chief executive Neil Macdonald said its AMPFP members are relieved the action has been filed. "A lot of our members are just shattered, essentially. It's taken a ...

Almost 2000 advisers gone so far in 2020

ELIZABETH MCARTHUR  |  TUESDAY, 21 JUL 2020
... added to the ASIC FAR in the same period. AMP Financial Planning lost the most advisers, with 153 leaving the licensee. AMPFP now has 1011 financial advisers remaining after starting the year with 1164. Charter Financial Planning lost a further 77 advisers ...

Calls to investigate treatment of AMP advisers

ELIZABETH MCARTHUR  |  FRIDAY, 26 JUN 2020
... grandfathered commissions in January 2020, 12 months ahead of the legislated ban on grandfathered commissions. "Furthermore, AMPFP has issued notices of termination to an estimated 250 planners that were assessed as being of 'lower profitability', forcing ...

De Ferrari unaware of legal action

ELIZA BAVIN  |  THURSDAY, 13 FEB 2020
AMP chief executive Francesco De Ferrari has said he is not aware of any impending legal action in relation to the group's financial advice business. Speaking to media after the release of the group's financial results, De Ferrari said that while he ...

AMPFPA action progresses, associations merge

JAMIE WILLIAMSON  |  WEDNESDAY, 12 FEB 2020
The AMP Financial Planners Association is anticipating a class action to be filed on behalf of its members later this month, as it gears up to merge with the Hillross Advisers Association. Speaking to Financial Standard, AMPFPA chief executive Neil ...

AMP to pay $5m for churn

JAMIE WILLIAMSON  |  WEDNESDAY, 5 FEB 2020
... of an effective response is an illustration of how badly things had gone wrong within the organisation." "Persons within AMPFP knew about the conduct and yet did not take, or even attempt to take, immediate steps to stop it. This occurred notwithstanding ...

What you read in 2019: Financial advice

JAMIE WILLIAMSON  |  THURSDAY, 19 DEC 2019
There wasn't a dull day to be had in Australia's financial advice industry in 2019, but unfortunately it was rarely a good thing. We are bidding farewell to the year that is likely to be remembered as one financial advisers would rather forget. ...

AMPFP ceases MDA services

ELIZABETH MCARTHUR  |  WEDNESDAY, 18 DEC 2019
... ASIC. ASIC tailored AMPFP's MDA licence conditions in March this year - the extra conditions meant a senior executive of AMPFP was required to provide an acceptable attestation to ASIC by 30 September 2019 confirming that AMPFP had complied with ...
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