what's wrong with AMP?!, page-247

Could be
Cutting costs is a great move for AMP as they have been top-heavy for a long time but IMO their business model is broken.
Their model was always to provide vertical integration and charge a fee at every juncture
Then as they got lazier the products got left behind as the likes of Hub, Netwealth et al took over
AMP was left behind as their army of "advisers" kept flogging their products
AMP then began to forget who they were and what had made them successful
The Royal Commission exposed their business and here we are

AMP has not done enough IMO to modernize and make their business a growth proposition. They continue to slash and burn without any viable plan to metamorphosise into a sleek, modern wealth offering. IMO they will continue to suffer margin compression and lose FUM to their sleeker more dynamic rivals.

IMO AMP will now be ripped apart in the same way as Fairfax did when they lost most of their advertising to carsales.com, realestate.com and seek.com.