This is not a new strategy for advice. It is not even a new strategy for AMP.
To call it the future of advice is inaccurate. AMP is definitely out there selling a message.
and here I read Ferrari is introducing a new approach to advice - all the majors have been working on this for years - and I read that also seems he is responsible for the private banking model. This private client for wealth management goes back way before Ferrari was with mother Teresa.
There is nothing new here. Well one thing is new - AMP not planning to make money out its existing client base or the core of its currently profitable client base - the mass affluent.
With apologies to Dr Samuel Johnson - the plan is both original and good. Unfortunately the good ideas are not original and have not been successfully implemented or produced profit in the past and the original ideas are not good ideas.
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