In general I agree. Announcements today will not go even close to solving their problems.
The issue as I see it are as follows.
The collective boards of AMP wiped out millions of dollars a week in shareholder value from the time they took over AXA Pacific.
The board played games with the regulators and their actions tarnished the brand name. The tied AMP adviser is stuck offering products and investments that are not market leaders.
The advisers were audited by AMP and they are coping the brunt of the failures that ran the company.
so there are only losers, staff, advisers and shareholders. BOLR will be cut, but that like a loyalty bonus for supporting AMP product and their business model. Their loyalty is now de valued. Now it will be cut. AMPFP advisers should launch a class action.
Frankly i don’t believe it has a future.
Value of AMP zero profit, page-33
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