Steele replaces Swindells at ipac
AMP Horizons Academy director Tim Steele has been appointed to replace Neil Swindells as head of AMP-aligned dealer group ipac, effective from early 2013.
Swindells will move into a role with responsibility for AMP's direct equity investments in financial planning practices across several licensees, AMP stated.
Both Steele and Swindells will report to AMP director, advice network and strategic development Andrew Waddell in their new roles.
The changes come as part of a review of AMP's advice businesses following its integration with AXA in 2011, the company stated.
The other dealer groups will remain unchanged. AMP Financial Planning managing director Michael Guggenheimer, Hillross managing director Hugh Humphrey, Charter managing director Kevin Stone and Genesys managing director John Saint will remain in their current roles.
However, licensee services will be consolidated to provide planner and adviser support across all licensees under a new division called AMP Advice, AMP stated.
The division will be led by Steve Helmich, now director, advice network and client solutions, and Andrew Waddell, who will each report directly to AMP Financial Services managing director Craig Meller.
All changes are expected to formally take effect in the first quarter 2013, while the appointment of a new director of Horizons is expected to be announced shortly, AMP stated.
Recommended for you
A financial advice firm has been penalised $11 million in the Federal Court for providing ‘cookie cutter advice’ to its clients and breaching conflicted remuneration rules.
Insignia Financial has experienced total quarterly net outflows of $1.8 billion as a result of client rebalancing, while its multi-asset flows halved from the prior quarter.
Prime Financial is looking to shed its “sleeping giant” reputation with larger M&A transactions going forward, having agreed to acquire research firm Lincoln Indicators.
An affiliate of Pinnacle Investment Management has expanded its reach with a London office as the fund manager seeks to grow its overseas distribution into the UK and Europe.
