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Spicers brand disappears

Spicers is no longer a feature of the New Zealand financial advice market.

Monday, October 2nd 2017, 6:00AM

by Susan Edmunds

AMP has announced that, from today, the company will run only one advice brand in this country: AdviceFirst.

AdviceFirst chief executive Mark Ennis said, since AdviceFirst took o the management of the Spicers business a year ago, the two had become integrated.

Market research was conducted that showed that clients and those within the businesses thought there should be just the one brand.

AdviceFirst was seen as the better option because it more clearly explained what the business did, he said.

Ennis said it was also decided that the AdviceFirst brand could do with a revamp and rejuvenation, as part of the process. "We've taken the opportunity to do that."

He said it should make life easier for some advisers who had been representing both brands.

It would not mean any changes for clients. "The product is the same, the adviser is the same. it's just a name change for some clients."

There would be no other personnel changes within the business.

There are about 50 advisers working for the network, a number that Ennis said was stable.

He said it was still working on whether it would become a financial advice provider under the new rules. "The focus has been on how do we do really good job of the integration and make sure we deliver value for clients."

Tags: AMP financial advisers Spicers

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