AMP’s Compounding Problems Mirror Industry

The AMP brand has faced mounting challenges since the Hayne Royal Commission delivered its final report in February 2019. Concurrent with the rest of the industry, adviser numbers at AMP, Australia’s largest advice group, are continuing to fall across all of their aligned brands. The reasons are manifold, but AMP has experienced a range of problems including structural and cultural issues that can help illustrate the changes effecting the advice industry at large. Where this leaves tens of thousands of clients who were formally advised by AMP licensed and aligned advisers remain open to question.