AMP separates advice offices
In the next step in the transformation of its financial planning business, AMP Financial Services has split its back office operations and services from its financial planning business and appointed Paul Sainsbury to fill the newly created role of chief operating officer of the new division.
Director of advice based distribution (ABD) Steve Helmich said the new area, called ABD Operations, would increase the company’s focus on providing business and technical support, business systems and client services to planners.
He said it would also drive operational improvements and efficiency through the business.
Helmich said Sainsbury would head up the new division, which comes into effect in early July.
Sainsbury previously worked as chief operating officer of AMP Financial Services product manufacturing, where he had been working on a project to improved quality, efficiency and cost management for the last three years.
He will report to Helmich, along with head of AMP Financial Planning Michael Guggenheimer, who was appointed to that role in late April.
Helmich said separating the functions would allow Guggenheimer’s team to focus on business strategy, support and delivery to planners in the field, financial results, and the transformation program.
“Our goal is to be partner of choice for planners and to lead the market in quality advice for customers. This requires market-leading operations and services, and these changes are designed to strengthen our ability to achieve this goal,” he said.
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