We are very aware that the changes to the BOLR Policy announced
by AMP on 8 August 2019 have created considerable uncertainty for
AMP financial planners. Those changes consist of reducing the 4x
multiple of recurring revenue to 2.5x and also reducing and
ultimately phasing out the multiple applicable to grandfathered
commissions.
The members of the AMP Financial Planners Association are
investigating the prospect of a class action against AMP arising
out of the changes to the BOLR Policy.
Our firm is available to provide advice and representation to
members of the AMP Financial Planners Association regarding their
individual rights against AMP. This can include instigating
mediation with AMP pursuant to the Master Terms and representing
the member in such mediation.
