Futuro turns back on AMP buyout
Futuro Financial Services has announced the proposed five-year buyout by AMP will no longer proceed, with the institution retaining its 10 per cent stake.
by Reporter - February 26, 2015 0 comments
A statement from the dealer group today announced that the decision was mutual and that Futuro advisers will continue to utilise the services of AMP’s Jigsaw business.
Advertisement
Advertisement
The statement also revealed that the chances of AMP increasing its stake have now diminished, with managing director Dennis Bashford pointing to a new, more confident strategic direction.
“Now that there is some clarity in relation to industry regulation, we have been able to firm up our strategic direction,” Mr Bashford said.
“We believe that this is the best outcome for all parties involved, and will give our advisers the best of both worlds."
0 commentsjoin the conversation
related articles
latest news
Advice community needs to challenge political thinking
Peter Johnston has told ifa that the advice community needed to stand up to its ...
Advisory backs removal of grandfathered commissions
A major financial advisory firm has backed the removal of grandfathered commissi...
XPLAN leads planning software rankings
XPLAN has taken the top spot in Australian planning software benchmark rankings ...