NZFP cuts AMP connection; Two jump ship
NZ Financial Planning has between $260 million and $300 million of funds under management that sit on the former AXA-owned platform, Assure. That does not include funds under advisement - investments held directly by the client but upon which NZ Financial Planning advisers offer advice.
The company has been tied into Assure for many years, however that agreement is coming to an end and a decision has been made to establish a new platform and exit Assure, which is now owned by AMP.
Good Returns understands there have been some concerns about the future of Assure and whether the service would be maintained to meet agreed service standards.
Instead NZFP is contracting one of its former advisers, Mark Wooster, to build a new platform.
General manager Craig Dealey would not discuss the details until the legal side of any change was sorted but he expected to be able to have a new disclosure document available by the end of the week.
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