Business
Will AMP be the next big player to quit financial planning? – The Australian Financial Review
The decision of the big four banks to exit financial advice should have been a boon for AMP and IOOF. But many are wondering whether they’ve got the right strategies to succeed in the longer term.
“The sale of MLC will enable us to prioritise investment and focus on executing our refreshed strategy of delivering simpler, more streamlined products and processes for our customers and colleagues,” he said.
The departure of the big four banks has whittled down the number of major institutions in the financial advice industry to two: AMP and IOOF.
And that raises the gnarly question as to whether these two can succeed where the banks have so clearly failed.
Some investors argue that the con…
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