Advisers in Australia axed as AMP reduces network

Pedro Gonçalves
clock • 3 min read

Hundreds of AMP financial advisers are getting termination letters giving them five possible ways to leave the group, including do nothing and see their authorisation and contractual agreements terminated within 180 days, according to reports. Beleaguered Australian financial services giant AMP announced earlier this month a new three-year strategy that included steep cuts to its large adviser network as it reported a A$2.3bn loss for the first half. In recent weeks, AMP advisers received a letter from Brian George, managing director of AMP Financial Planning, giving them different wa...

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