AMP’s head of SMSF Advice resigns

An AMP spokesperson has confirmed the head of SMSF Advice has decided to resign, which follows the departure of another manager within the licensee earlier this year.

Stuart Abley was the head of SMSF Advice for the past four years.

His resignation comes after SMSF Advice regional development manager Mark Hannan left the licensee in February 2017.

It also follows ifa’s reporting that almost 30 SMSF Advice authorised representatives left the licensee in December 2016 and January 2017.

A subsequent update to the ASX revealed that the network had shed almost 600 authorised representatives in total in 2016, including a 37.2 per cent reduction in the size of its SMSF Advice subsidiary.

Last week, AMP announced it has made several changes to its financial advice network, including the appointment of Chris Digby as managing director of SMSF Advice and Jigsaw.

Other changes include a new operating structure that will see the establishment of a “dedicated governance function and independent boards for each licensee to help ensure a consistently high standard of advice across the network”.

AMP Financial Planning, AMP Advice, AMP Horizons and AMP Direct will come together as an integrated unit under the leadership of newly-appointed managing director Michael Paff.

In addition, a new Channel Strategy and Services team will focus on simplifying processes for advisers while driving innovation.

Meanwhile, Michael Guggenheimer has been appointed executive director advice, tasked with establishing the licensee boards and “continuing AMP’s focus on quality governance”, the statement said.

Hillross will be led by newly-appointed managing director Dean Thomas, while Neil Swindells has been appointed managing director of Charter.

Other appointments include Dave Akers as director, Channel Strategy and Services.

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