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AMP loses financial advisers to privately owned licensees

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25 May 2018 by Alice Uribe, Australian Financial Review

Article link: http://www.afr.com/business/banking-and-finance/financial-services/amp-loses-financial-advisers-to-privately-owned-licensees-20180524-h10hwx

Under-fire wealth giant AMP has lost almost 20 per cent of its financial advisers during the past three years, with many departing planners shunning big-bank competitors and instead choosing smaller firms.

The "mass migration" of bank-aligned planners to so-called non-institutional advice companies is a key finding of a report by consumer group Adviser Ratings, which has revealed AMP to be suffering the greatest rate of adviser bleed compared with its competitors.


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