[The Wrap] Reflecting on a year of surprises

Looking back on 2020 I’d say financial services has been strong and resilient, particularly advisers who have faced many challenges ranging from dealing with clients during the pandemic to getting their businesses ready for a new regulated environment.

Thanks to Covid-19 advisers, arguably, dodged a bullet. There was no way the industry was ready for FSLAA. To have to have it pushed back to March 2021 was a fortunate break. 

There’s been some surprises during the year too. Included in this list are AMP Wealth dumping its sister company AMP Capital and moving to a passive investment strategy. It would be fair to say AMP is the story which keeps on giving. Readers are really interested in anything we publish about AMP which probably says something about its long history and the place it had in the financial services world.

With a US private capital firm looking at buying AMP Wealth it is bound to make headlines in 2021.