Nothing new there guys. All corporates have these junkets. What is shocking is that AMP is going through that word yes "transformation" cutting 20% of their workforce, many of which will be in Melbourne. Severe cost cutting hey?
AMP has a network of over 4600 FP, most of which don't even sell AMP products, which says it all.
This article was tough to read, however, referring to SMSFs, if you choose AMP you will be paying $3000 a year, as Non-Recourse said, why do that? AMP has gobbled up half the administrators including Cavendish in a 'mass buy', yet has resulted in poor client experiences and many clients leaving looking for another option..... like us.
As an ex Employee of AMP, I find it disgusting that daily honest Aussies lose their jobs with these guys enjoying 'prof development' 10,000 kms away. But what do you expect, that is the corporate world. BTW anyone seen their share price of late? or their corporate super plan....how is that going?
Financial planners will need to be a little more accountable - particularly with SMSFs no more once off charging of $6000 for a SOA....people are too smart for this!
Rant over....
Cheers, Ivan
