For Consumers

For Advisers

Connect with us

MENU
FIND AN ADVISER

Media | Search

In Brief: July Edition  

Do you have a good advice story?

Are you an adviser with a customer who'd like to tell their story how your advice helped them?

Are you a customer with a good story about how advice has added value to your life?

Tell us about it

Where the bloody hell is AMP's strategy?

« back to media

8 July 2019 by Adele Ferguson, Australian Financial Review

Article link: https://www.afr.com/business/banking-and-finance/where-the-bloody-hell-is-amp-s-strategy-20190707-p524wd

In 2018 and again in the first quarter of this year, only one product was generating positive net cashflows and that product was North. AMP said the revenue margin for this product was 57 basis points of assets under management in 2018, which compared to 93 basis points for the division as a whole. The impending margin decline looks to be horrendous.
The revenue issues don’t end there. Adviser Ratings estimates the removal of grandfathered commissions will slash the average adviser income in the industry by 42 per cent. For some firms it could be as much as 75 per cent, which is profound.


Comments

No comments added.


Add comment

Name

Email

Comments

Enter code:*

Add comment


« back to media