tmmonline.nz  |   landlords.co.nz        About Good Returns  |  Advertise  |  Contact Us  |  Terms & Conditions  |  RSS Feeds

NZ's Financial Adviser News Centre

GR Logo
Last Article Uploaded: Friday, March 29th, 10:40AM

Insurance

rss
Latest Headlines

AdviceFirst on the block

Change is on the horizon for AMP advisers.

Monday, November 26th 2018, 6:00AM

AMP has confirmed that its AdviceFirst adviser group will be sold as part of a planned IPO next year. The group is made up of 45 advisers.

Without a buyer found for the Kiwi wealth business, the financial services provider is opting instead for a sharemarket listing.

The IPO, subject to market conditions and regulatory approvals, would include AMP’s KiwiSaver, corporate superannuation, the investment business, AdviceFirst and other distribution agreements such as AMP general insurance.

A decision has yet to be made on whether to list on the NZX alone or consider a dual-listing with the ASX.

It will not include AMP Capital.

AdviceFirst advisers deal in both insurance and investments.

Their life insurance products will already have changed hands with the sale of the AMP life business to Resolution Life.

Simon Manning, head of The Association, which represents AMP adviser businesses and AMP advisers, said there had been a serious of workshops and roadshows held over the past three or four weeks for advisers.

“It’s a quickly developing story.”

He said all parties were keen to work together “to find a way forward” and Resolution had made it clear that it wanted to be in the New Zealand market for the long-term.

He said advisers were feeling more positive about the deal as more details emerged. "[Resolution] wants a sustainable business. That's the message we are getting and that's good news for everyone."

Tags: Advice First AMP

« AIA/Sovereign confirms trips axedPartners bumps up medical pricing »

Special Offers

Comments from our readers

No comments yet

Sign In to add your comment

 

print

Printable version  

print

Email to a friend
Insurance Briefs

Partners helps fund depression recovery centre
New Whakamātūtū Wellington Depression Recovery Centre gets financial boost from Partners Life.

AIA adds cover for prophylactic surgery following cancer
AIA makes changes to policies and adds preventative surgery for several types of cancer.

Chubb appoints David Morrow as Country President for New Zealand
Chubb has appointed David Morrow as Country President for New Zealand.

nib adds specialist skills to its board
Two new board appointments at health insurer nib add new perspectives, chairman says.

News Bites
Latest Comments
Subscribe Now

Cover Notes - Specific news aimed at risk advisers

Previous News
Most Commented On
About Us  |  Advertise  |  Contact Us  |  Terms & Conditions  |  Privacy Policy  |  RSS Feeds  |  Letters  |  Archive  |  Toolbox  |  Disclaimer
 
Site by Web Developer and eyelovedesign.com
x