Direct service 'not a move away from IFAs'

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AMP says the launch of its new direct offering is not a move away from advisers.

Wednesday, July 30th 2014, 2:35PM 4 Comments

After what it says was a successful pilot, it has launched AMP 360, an insurance, mortgage broking and KiwiSaver business offering advice direct to customers.

The AMP 360 team has 14 advisers based in Auckland.

There are plans to open offices in other parts of New Zealand through the rest of this year.

AMP’s general manager of direct sales Nick Scarlett said AMP 360 would complement the existing advice and sales channel.

“In 2013 we helped more than 1800 New Zealanders buy their first home through KiwiSaver and wrote $644 million in new mortgages. With the launch of AMP 360 we hope to increase that even further in 2014,” he said.

“Traditionally AMP has only sold these products through an intermediated adviser based model. AMP 360 isn’t about moving away from working with advisers. Instead it is about complementing our existing offer to customers and responding to customers demand to purchase financial products and advice through advisers, online and direct.”

AMP 360 advisers are employed directly by AMP.

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