Newspaper icon
The latest issue of Financial Standard now available as an e-newspaper
READ NOW

Search Results

Showing 1 - 10 of 16 results for %22Buyer of Last Resort Valuations%22

AMP challenges BOLR court ruling

KARREN VERGARA  |  WEDNESDAY, 27 SEP 2023
AMP is appealing the Federal Court's Buyer of Last Resort (BOLR) ruling that determined in favour of AMP Financial Planning advisers who saw the valuations of businesses slashed by 40%. AMP filed a Notice of Appeal in the Federal Court yesterday ...

Munich Re targets AMP over alleged reinsurance misconduct

ANDREW MCKEAN  |  WEDNESDAY, 23 AUG 2023
... Meanwhile, AMP recently earmarked $50 million in response to a Federal Court decision regarding its contentious adjustment to Buyer of Last Resort (BOLR) terms. Its changes caused a marked reduction in the practice valuations of AMP Financial Planning ...

AMP provisions $50m in response to class action

ANDREW MCKEAN  |  THURSDAY, 10 AUG 2023
... later than the end of the year." In July 2023, the Federal Court ruled against AMP over its controversial change to the Buyer of Last Resort (BOLR) rules, backing AMP Financial Planning advisers who protested against the decline in their business valuations ...

AMP loses BOLR changes class action

KARREN VERGARA  |  WEDNESDAY, 5 JUL 2023
... Planning advisers who saw the value of their practices deteriorate after the parent company controversially changed its Buyer of Last Resort (BOLR) rules. In handing down its decision, the Federal Court found in favour of authorised representatives of ...

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 appoints advice transformation manager

ELIZABETH MCARTHUR  |  TUESDAY, 8 DEC 2020
... network. A class 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 ...

AMP does not treat advisers fairly: Poll

ELIZABETH MCARTHUR  |  TUESDAY, 1 SEP 2020
... A new poll has 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 ...

Lazard dumps AMP shares

ELIZABETH MCARTHUR  |  TUESDAY, 4 AUG 2020
... AMP Financial 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 ...

Advisers file class action against AMP

JAMIE WILLIAMSON  |  WEDNESDAY, 29 JUL 2020
A class 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 ...

AMP extends adviser deadline

JAMIE WILLIAMSON  |  WEDNESDAY, 30 OCT 2019
... filed before year 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 ...
PAGE:
1
PREVIOUS
NEXT