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In Brief: July Edition  

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Where the bloody hell is AMP's strategy?

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8 July 2019 by Adele Ferguson, Australian Financial Review

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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.


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