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Trusting Advisers More Than Instos is ‘Human Nature’: APN Group

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30 October 2019 by Tahn Sharpe, Professional Planner

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Last week Professional Planner reported that wealth outflows at AMP and IOOF – the last of the original ‘big 6’ that are still at least somewhat committed to advice – continued in the July quarter. AMP’s wealth business suffered outflows of $1.94 billion while IOOF reported $123 million of outflows from its advice business for the same period.
Adviser Ratings’ Head of Wealth, Mark Hoven, who also sat on the panel, agreed that any assessment of the royal commission’s effect needed to separate advice from the institutions that have licensed large groups of them for 20 years.


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