Yeah, I get that. I am sure they have covered all the legalities despite apparently needing to give 13 months notice to make negative changes to agreements...
If they really stitch up the advisers who AMP themselves lended to in order to buy a client book at 4x revenue, sold to them on the basis they could always sell it back at 4x revenue, there will be a mutiny. I spoke to one over the weekend out of genuine interest, there was certainly no understanding the goal posts could be instantly shifted without notice and consultation. Hes a pretty smart dude, one that I would expect to be ontop of this kinda stuff (despite the decision to pay 4x revenue is flat out stupid in any scenario).
The RC only scraped the surface of compliance issues and unethical dealings, theres a lot more that disgruntled advisers are probably likely to 'air' once they are forced out. If AMP is going to be continually in the news for the wrong reasons, of which I believe they will, I believe the community will boycott them in all forms and the 'value' now seen will evidently be a 'value trap'.
Upon seeing this I do respect your opinion and your stance, be interesting to see how this plays out.
Yeah, I get that. I am sure they have covered all the legalities...
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