Suspicions led to suspension of AMP Financial Planner ‘Chatter’


The depth of suspicion existing between some AMP planners and AMP Limited has been revealed by a recent decision by the AMP Financial Planners Association to suspend a member blog – the Chatter Group – over suspicions some members were providing discussion details to AMP Limited.
Money Management has received the contents of an e-mail informing members that the board of the AMP Financial Planners Association had decided to suspend the Chatter group pending an investigation.
“The board has decided to suspend the AMPFP ARs Chatter group, whilst we investigate serious allegations of members providing copies to AMP, which has resulted in at best bullying and at worst threats being made to particular advisers,” the e-mail said.
“We treat this matter very seriously, as it does not build trust and is not in the spirit of the relationship with AMP,” it said.
“We expect to be able to quickly resolve this and relaunch this Chatter group soon. In the interim please continue to raise your issues with AMP and if appropriate cc us.”
Recommended for you
ASIC has released the results of its first adviser exam to be held in 2025, with 241 candidates attempting the test.
Quarterly Wealth Data analysis has uncovered positive improvements in financial adviser numbers compared with losses in the prior corresponding period.
Holding portfolios that are too complex or personalised can be a detractor for acquirers of financial advice firms as they require too much effort to maintain post-acquisition.
As the financial advice profession continues to wait on further DBFO legislation, industry commentators have encouraged advisers to act now in driving practice efficiency.