The REAL AMP website, page-7

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sculleroo

1,197 Posts.

257

01/04/21

16:20

Post #: 52212104
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Originally posted by efed: ↑

Look there is 2 sides to this coin.

A lot of the AMP Financial Planners were earning trail income on books for years that they shouldn't have. On top of this AMP planners earned above standard commissions for years 'flogging AMP Product'. yes, flogging.

These guys are Financial Planners that expected normal Mum and Dad investors that had no financial expertise to trust in them, while earning exorbitant fees on up front and ongoing trail commissions. What happens to those investors that trusted these experienced financial planners and lost their life savings? What about the families that have suffered due to incorrect advice given by these planners?

So now that these Planners made bad decisions on their own and invested in businesses that went south, why should they expect preferential treatment over their clients?, just because they are Planners?? Wow? These guys know very well the contract they signed had no guarantees, what about the clients they stitched up saying that they would never lose their super but did?

I hate the fact that many people lost their livelihoods over this, but what about the clients that lost their savings due to some of these planners? what about them?

This discussion will go on for years, but I for one who has studied the Financial Planning course only to realise I would be nothing more than a glorified sales rep that can basically put clients into products that may or may not amount to success, 'without recourse'. I find it difficult to understand why a Planner would complain because they are at the receiving end of their own bad investment decisions.

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You really don't know what you're talking about do you mate ?

AMP Price at posting: $1.33 Sentiment: None Disclosure: Not Held
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