As part of my current shorting binge, I did some research into AMP FP practices. From this I have found that;AMP are basically left with the practices that cannot get out due to;
- AMP have gotten rid of many smaller advice practices
- Many of the decent financial advisers have left AMP
- Higher LVR on debt owed to AMP Bank for practice purchases
- Compliance problems
- The adviser is not able to be accepted by another advice licensee (education not up to date, compliance risk etc.)
Is this the place you would go for top-quality financial advice? if the class action doesn't work out for advisers what happens to those that are left at AMP?
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It is worse than I thought
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Last updated 15.59pm 03/05/2024 ? |
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