Ombudsman reveals AMPFP tactics against advisers
Non-existing clients were included in books purchased by AMP advisers from AMPFP, but when it came to BOLR time those clients were marked as invalid, the ombudsman says. It comes amid a raft of tactics AMP’s flagship dealer group allegedly used against advisers, detailed in questions taken on notice at a recent PJC hearing.
August 05, 2021
Scale by independence: The Koda Capital model
“I stopped counting my direct reports at 35,” Paul Heath says. In a revealing fireside discussion, the Koda Capital co-founder and CEO explains the group’s remarkably flat structure, its unconventional scale game and why he and Steve Tucker are giving away half the firm’s equity.
August 04, 2021
Retiree needs are in ‘acute conflict’: Magellan
A regular fixed income, growth of assets to ensure they last, along with access to capital to meet unexpected and large expenses rank among the essential needs of retirees which brings complexity to retiree portfolio solutions, a panel has discussed.
August 03, 2021
Data and integration the next wave of platform evolution: BT
While feature development is set to become a key part of the next stage in investment platforms, BT Platforms' head of distribution Christopher Mather believes data and integration will be the defining elements of its evolution.
August 03, 2021
ASIC explains three drivers for adviser levy increase
ASIC's Sciacca – herself a former adviser – said she could understand, "from an adviser's perspective" how they would feel seeing the cost increase, "particularly if they feel as though there's no regulatory efforts directed specifically towards them".
July 28, 2021
De Gori: Advice ‘absolutely’ has a supply issue
"Where are the adviser numbers going to end up?" said the outgoing FPA chief. "That's anyone's guess, but my gut feel is that we will probably get down as low as 16,000, 17,000."
July 28, 2021
Tarnished, but iconic: AMP Advice looks to the future
AMP needs to be rebuilt, admitted Matt Lawler at Professional Planner's Best Practice Forum. But with the "iconic" group's new direction it can be a force for good, not only in employing over 1300 advisers but in lobbying policymakers and regulators for smarter regulatory settings, he explained.
July 27, 2021
Up to 2,000,000 ‘unassigned’ clients after bank exits: CoreData
A confluence of macroeconomic and microeconomic factors are putting the Australian advice industry in a position to flourish in the coming years according to CoreData chief executive Andrew Inwood.
July 27, 2021
No more ‘handcuffs’: AMP dumps BOLR deals and releases client books
"We've evolved a lot," managing director of advice Matt Lawler tells Professional Planner shortly after AMP announced it was shedding BOLR agreements and institutional ownership of client books. A week before new CEO Alexis George finds her desk, the group has reshaped its advice arm for the post-royal commission era.
July 26, 2021
