The last couple of years has been a tumultuous period for the
financial planning industry. We have seen the Hayne Royal
Commission into Misconduct Superannuation and Financial Services
industry and the handing downs of its findings. We have also seen
AMP change the terms of its Buyer of Last Resort (BOLR) Policy and
which has resulted in a class action being filed against AMP in the
last month on behalf of AMP financial planners who have seen the
value of their businesses affected as a result of changes to BOLR.
Over the course of this year Pointon Partners has been advising a
number of AMP financial planners in relation to their rights
against AMP.
We have also seen a number of financial planning networks
including AMP seek to consolidate their networks by serving notices
of termination upon smaller planners bringing their authorised
representative agreements to an end.
