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Showing 1 - 10 of 32 results for "BOLR"

QSuper head moves to AMP

ANNABELLE DICKSON  |  MONDAY, 9 AUG 2021
... and the business," she said. The appointment comes after AMP announced it is putting an end to all Buyer of Last Resort (BOLR) arrangements and has created a new service model for its aligned network.

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 ...

No charges in AMP BOLR investigation

JAMIE WILLIAMSON  |  FRIDAY, 16 JUL 2021
... the regulator and Commonwealth Director of Public Prosecutions determining no charges should be brought. Under AMP's BOLR policy, when a financial adviser would exit via BOLR, that adviser's clients were placed into a 'pool' where they ...

Outflows continue at IOOF

KANIKA SOOD  |  THURSDAY, 29 APR 2021
... million net inflows. In F ebruary, IOOF flagged it would drop 140 advisers and readied $32 million Buyer of Last Resort (BOLR) spending in FY21 and FY22 as it pivoted towards the self-employed advice model. In the investment management business, $469 ...

IOOF to spend big on BOLR

KANIKA SOOD  |  THURSDAY, 25 FEB 2021
... leaving its network, primarily from Bridges Financial Services. At its half year results yesterday, IOOF reported an expected BOLR spend of $15 million to $20 million for departing advisers in FY21 and another $8 million to $12 million for FY22. This ...

AMP deed of release bars advisers joining class action

ELIZABETH MCARTHUR  |  MONDAY, 7 SEP 2020
... since AMP Financial Planning advisers brought a class action against AMP in relation to changes made to Buyer of Last Resort (BOLR) agreements, Macdonald said. "We don't think it's ideal," Macdonald said. He added that AMP has told The Advisers ...

AMP does not treat advisers fairly: Poll

ELIZABETH MCARTHUR  |  TUESDAY, 1 SEP 2020
... revealed widespread disappointment in AMP's treatment of its aligned financial advisers in renegotiating Buyer of Last Resort (BOLR) agreements. Financial Standard polled roughly 250 people in the financial services industry, asking them whether AMP ...

Alex Wade leaves AMP

JAMIE WILLIAMSON  |  THURSDAY, 6 AUG 2020
... seen the value of their businesses decimated by the group's decision to no longer honour their Buyer of Last Resort (BOLR) agreements. ASIC currently has five investigations into AMP ongoing and has briefed the Commonwealth Director of Public Prosecutions ...

Advisers file class action against AMP

JAMIE WILLIAMSON  |  WEDNESDAY, 29 JUL 2020
... 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 of 2.5x, Corrs Chambers Westgarth filed an open class ...

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 ...
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