Business
AMP’s grim reality is now clear – The Australian Financial Review
The end of Ares Management’s tilt to buy AMP outright means it has no choice but to go it alone on the rebuild of its embattled wealth business.
De Ferrari says a crucial part of making wealth work is to lower the cost of serving customers, primarily through use of digital technologies. This will mean personal advice for the limited pool of customers that can afford it and a new product for the mass market AMP has historically served probably some form of souped-up robo advice.
But De Ferrari also concedes that exactly what that cheaper, mass market product might look like remains unclear, and designing it will require intense discussion…
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