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.
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
latest news
Advice gap worsening retiree stress, says industry head
The growing level of unmet financial advice needs is making it harder for client...
Netwealth December FUA net inflows up 228%
Netwealth has posted net inflows of funds under administration of $2.9 billion f...
Former NSW adviser banned following conviction
BREAKING ASIC has permanently banned a former NSW-based financial adviser follow...
Subscribe to the ifa bulletin
Receive daily online news,analysis, reports and business strategies
By signing up you agree to our Terms of Use and Privacy Policy
