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Showing 1 - 10 of 44 results for "Buyer of Last Resort"

QSuper head moves to AMP

ANNABELLE DICKSON  |  MONDAY, 9 AUG 2021
... advisers 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 sued over corporate super misconduct

JAMIE WILLIAMSON  |  FRIDAY, 30 JUL 2021
... however, with the regulator confirming it was dropping a criminal investigation related to the group's Buyer of Last Resort Policy and the way in which AMP continued to charge orphaned advice clients despite having no adviser.

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
ASIC's criminal investigation into AMP's fee-for-no-service conduct related to its Buyer of Last Resort Policy has wrapped up, with the regulator and Commonwealth Director of Public Prosecutions determining no charges should be brought. Under ...

Outflows continue at IOOF

KANIKA SOOD  |  THURSDAY, 29 APR 2021
... period's $180 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 ...

IOOF to spend big on BOLR

KANIKA SOOD  |  THURSDAY, 25 FEB 2021
IOOF expects to spend up to $32 million on paying out Buyer of Last Resort arrangements with financial advisers leaving its network, primarily from Bridges Financial Services. At its half year results yesterday, IOOF reported an expected BOLR spend ...

AMP adviser numbers shrivel

ELIZABETH MCARTHUR  |  TUESDAY, 12 JAN 2021
... Financial Planning advisers filed a class action against the institution in July 2020 over its revaluing of Buyer of Last Resort agreements.

AMP appoints advice transformation manager

ELIZABETH MCARTHUR  |  TUESDAY, 8 DEC 2020
... action was filed in July against AMP by its own advisers in relation to the institutions decision to slash Buyer of Last Resort valuations. AMP is also in the midst of a portfolio review, with a takeover bid from Ares Management valuing the company at ...

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 ...
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