In a statement, Hillross managing director Dean Thomas said the licensee’s success since its launch in 1987 has been to offer a “boutique” proposition.
“The passion and commitment of our advisers is a rare quality,” Mr Thomas said.
“We partner with our clients for the long-term, offering a unique and personalised experience that’s tailored to their needs and financial dreams.
“We offer advisers the boutique positioning of a small licensee. We enjoy the agility and camaraderie of a strong community of advisers, while having access to the commercial intelligence and investment capacity of AMP, the largest financial advice network in the country.”
Hillross now has 319 authorised representatives, the statement said. It was one of a number of AMP-aligned licensees to experience a decline in adviser numbers in 2016.
30 years of misleading the public…maybe.. Do you pay $20K in dealer group fees if you use AMP North or $40K in Dealer group fees if you want to use a non AMP platform ? Does that practice still go on? Given the inability to use the term independent firms like AMP should be banned from re branding. Not only that, but the conflicted remuneration structures, known as buyer of last resort arrangements, most likely paid to Hillross groups made illegal. It will only be a matter of time these buyer of last resort arrangements are outlawed. These areas will be under the microscope given the widening gap between aligned and non aligned practices.
Surely the only logo that Hillross should be using these days is the AMP logo.
“We offer advisers the boutique positioning of a small licensee”?? You must be kidding. They are ultimately licensed by one of the biggest product providers and financial planning licensees in the country.
This is a classic example of how s923a, and ASIC’s selective interpretation and enforcement of it, is completely failing consumers.