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Adviser spin-off 'good news for both sides'

Wednesday 26th of June 2019

Tied AMP advisers have finally come to a deal with the financial services provider that will see them move on to independent contracts to distribute AMP products, and others.

It comes as AMP sells its life book to Resolution Life. It will be closed to new business but AMP says it will have a focus on retention.

AMP is retaining the wealth business as its own entity in this country.

Once the business has split, which still requires regulatory approval, all advisers will have two new independent adviser arrangements – one for insurance and one for the wealth side of the business.

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