Financial planning industry stalwart Steve Helmich has been promoted to executive director of financial planning at AMP in a management reshuffle that will see Andrew Waddell leave the company.

Waddell, who was director of advice – strategy and development, will leave AMP on a date to be announced.

The restructuring simplifies the top-level management of AMP’s advice businesses, and eliminates the dual head-of-advice structure that existed with Helmich and Waddell following AMP’s acquisition of AXA Asia Pacific.

As part of the reorganisation, announced yesterday, Michael Guggenheimer will take over responsibility for Hillross in addition to his current role as managing director of AMP Financial Planning. Hugh Humphrey, former managing director of Hillross, has been appointed director of channel strategy and transformation.

Tim Steele will take on responsibility for Genesys, replacing Paul Robertson, in addition to his current role as managing director of ipac. Hugh Humphrey, former managing director of Hillross, has been appointed director of channel strategy and transformation. Kevin Stone will continue in the role of managing director of Charter Financial Planning, which includes the AXA Financial Planning practices that transitioned to Charter in a program that concluded about a year ago.

Each of the heads of the licensees will report directly to Rob Caprioli, AMP group executive in charge of advice and banking.

Helmich was previously director of financial planning, advice and services. His move will enable him to focus on a number of activities both within AMP and externally, including as chair of the global Financial Planning Standards Board (FPSB).

The  changes to the advice division were announced as part of a range of appointments within AMP.