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Search ResultsShowing 1 - 10 of 35 results for "Buyer of Last Resort"
AMP deed of release bars advisers joining class action
ELIZABETH MCARTHUR  |  MONDAY, 7 SEP 2020
... effect 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 ...
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
... who have 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 ...
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. ...
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