Should Advisers Contest “Brutal" AMP BOLR Changes

Advice given to AMP advisers suggests that the legality of the effective devaluations of their businesses via AMP’s controversially amended Buyer Of Last Resort (BOLR) arrangements may be contestable. A lawyer representing a number of effected advisers says that the BOLR arrangements may be just part of a suite of interrelated contracts and ancillary documents which contribute to the relationship between AMP and their authorised advisers, so the options advisers have regarding accepting AMP’s recent offer is not necessarily narrow or limited.