A major bank has dropped plans to divest its New Zealand wealth management business following the COVID-19 economic meltdown.
AMP has confirmed it will be retaining its New Zealand wealth business and will now focus on plans to develop and grow the business in its existing markets.
The group reported it held discussions with a number of interested parties regarding the divestment, but the offers it received did not meet its expectations.
AMP has promised a further update on the Kiwi wealth management segment at its first half results in August.
According to the newest members of the FSC board, advice networks having a “seat at the table” is a positive development ...
ASIC has announced a permanent ban on a financial adviser based in NSW. The corporate regulator said on Friday it has ...
ASIC has released the results from the latest financial adviser exam, the first to be run since changes to its structure ...
Never miss the stories that impact the industry.
Get the latest news! Subscribe to the ifa bulletin