Advisers Take On AMP With Class Action

AMP Have confirmed that a class action has been filed against it by advisers who were affected by their decision to reduce the terms of their Buyer of Last Resort (BOLR) scheme. In an announcement to the Australian Securities Exchange (ASX) today, AMP advised that that a class action had been filed against AMP Financial Planning Pty Ltd and that the “proceeding had been brought on behalf of certain financial advisers who are or had been authorised by AMP Financial Planning.”