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AMP starts new financial advice biz

AMPLtd. started a new financial advice business that combinesinteractive technology with personalized advice to help customers realize theirgoals.

AMP said Oct. 5 that AMP Advice aims to make goals-based advicemore accessible to the 80% of Australians who do not have a relationship with afinancial adviser.

David Akers has been appointed as managing director of AMPAdvice. Akers was formerly director of future of advice business solutions atAMP.

There are 11 AMP Advice practices in Australia and 20 to 30are expected to be operational by the end of the year.

AMP's employed adviser licensee, ipac, is transitioning tothe model. AMP's other aligned licensees, Hillross, Charter and AMP FinancialPlanning, will continue to operate under their existing brands.