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Tough Times Before the Mast as AMP Voyages to the New World

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8 April 2019 by Adele Ferguson, Australian Financial Review

Article link: https://www.afr.com/business/banking-and-finance/tough-times-before-the-mast-as-amp-voyages-to-the-new-world-20190407-p51bp5

The numbers say it all. Margins are falling, costs are rising and funds are flying out the door of AMP’s biggest and most important division, Australian Wealth Management, which includes financial advice.
For the financial services giant, which is battling a battered reputation and trust issues after some bombshell revelations during the royal commission, things will only get tougher, particularly when grandfathered commissions come to an end in the next nine to 20 months, depending on who wins the federal election next month.


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