AMP has confirmed that it sent a legal letter to the creators of an anti-AMP Horizons website which was shut down earlier this week.
An AMP spokesperson would not comment on the contents of the letter, but the spokesperson told ifa that it was sent to the website's registrant.
“AMP will always take the steps necessary to protect against any misleading claims,” he said.
While the website, titled 'Say NO to Amp Horizons Financial Planning Academy', is no longer live, ifa was able to retrieve a cached version online. Its URL, amphorizons.com, was similar to the official amphorizons.com.au.
The page was meant to dissuade people from joining the academy and listed eight reasons for not doing so, including not receiving any industry qualifications and being trained by people with lack of industry skills. It claimed the reasons posted were the “opinions of one person and are intended to give a different perspective on the program for those considering joining it”.
Other reasons given on the site for not joining the program included "you will be required to go to extraordinary lengths to reach clients" and "you mostly learn how to sell AMP products".
The site also alleged that two clauses in the contractual obligations specified "you may not work in the industry for up to six months after leaving AMP Horizons" and "if you do leave or are terminated before the end of your contract you are liable to pay them back for $10,000 worth of training".
The AMP spokesperson would neither refute nor verify the substance of these allegations. However, he noted "we take any allegations and concerns related to the operation of our businesses very seriously".
"AMP Horizons is an award-winning program that is recognised as an industry leader in the education and development of financial advisers. Since its inception, Horizons has established a strong track-record of graduates who've gone on to successful financial advice careers," he said.
Advisers have implored the wealth giant’s largest shareholders to ask some “serious questions” about their fate at the company’s upcoming annu...
The government has released draft legislation around the establishment of the single disciplinary body for advisers, which will sit inside ASIC. ifa b...
More than 80 per cent of consumers now expect their retirement savings to be invested ethically, and adviser platforms are moving quickly to cater to ...