Articles tagged with 'AMP'
AMP adds term deposits
21 June 2024 - AMP Wealth Management NZ is the first of New Zealand’s large, non-bank KiwiSaver provider to offer term deposits.
AMP's NZ arm lifts profit despite
20 February 2024 - AMP said its New Zealand wealth management business' KiwiSaver operations experienced a “challenging” second-half in 2023 with net cashflow for the year of A$70 million.
Mostly passive AMP Wealth gets active with climate impact fund
5 December 2023 - AMP Wealth Management is launching its first Global Climate Fund saying it has the potential to become the largest climate impact fund in New Zealand with up to half a billion dollars under management.
AMP's NZ wealth management doubles KiwiSaver net cashflows
14 August 2023 - The highlight of the otherwise flat first-half results from AMP's New Zealand wealth management business was a more than doubling of net KiwiSaver cashflows.
AMP profit falls on declining markets
19 February 2023 - AMP has seen its full year net profit after tax fall 18%, on the back of what it calls "declines in the global investment market".
Lifetime buys another super scheme
19 January 2023 - Ralph Stewart's Lifetime retirement income business is a step closer to its goal of $1 billion in funds under management.
Wealthpoint advisers benefit from commission changes
8 December 2021 - Wealthpoint advisers can expect to pocket up to $1 million of extra revenue following changes to the group’s structure.
AMP increases focus on digital distribution
6 December 2021 - AMP exits aligned financial advice channel and plans to launch new funds and focus on a digital strategy.
AMP Life exits life insurance for good
5 November 2021 - AMP will sell its remaining interest in Resolution Life Australasia for AU$524 million, completely severing its ties to life insurance after more than 100 years in the business.
Milford remains the gorilla of the funds management industry; others bleed
4 August 2021 - The latest data shows that Milford took more than half of all the funds flow in the June quarter, but also produced top performance.
Sold sign goes up at AMP Capital
8 July 2021 - AMP has agreed to sell AMP Capital to Macquarie Asset Management.
Macquarie rumoured to be looking at AMP Capital
2 July 2021 - There is speculation across the Tasman that Australian bank, Macquarie, is interested in acquiring AMP Capital in New Zealand.
Finalists announced for the first Mindful Money Awards
28 May 2021 - The finalists for the inaugural Mindful Money Awards have been announced and cover a wide range of leading Kiwi companies and individuals keen to make an ethical mark on the world of finance and investment.
Five KiwiSaver providers lose default status; Two new ones added
14 May 2021 - The government has slashed the number of KiwiSaver default providers from nine to six with five of the existing providers being removed from Dec 1.
AMP equities sale on the horizon
4 May 2021 - Sources say that AMP has found a buyer for its global equities and fixed income suite after over a year of looking.
AMP Ares deal formally axed
23 April 2021 - AMP has announced the formal end to sale discussions with US fund management giant Ares, opting instead to split AMP Capital “private markets” section of the business in a demerger.
AMP chief to exit, ANZ deputy to replace
1 April 2021 - AMP has confirmed that its chief executive will be exiting the business, with ANZ deputy chief filling the role.
AMP Capital: Ares and AMP pursue 60/40 partnership
26 February 2021 - AMP and Ares Management Corporation have today announced that they have entered into an agreement to pursue the formation of a joint venture for AMP Capital’s private markets businesses.
AMP plans 'investment renovation' and big changes to AdviceFirst
16 February 2021 - In its 2020 Investor Report, AMP have confirmed plans for a sweeping “investment renovation” as well as widespread changes to AdviceFirst.
Ares U-turn on AMP buyout
12 February 2021 - Global asset management company Ares have pulled out of their proposal to buy AMP.
Default KiwiSaver: Which providers are fighting to keep their status?
5 February 2021 - [Updated] Despite a shroud of secrecy from MBIE, Good Returns can report that 7/9 default KiwiSaver providers have applied to retain their status, with two notable exceptions keeping quiet.
AMP a laggard with KiwiSaver default status on the line
30 October 2020 - AMP’s KiwiSaver is still the worst-performing default provider as the deadline to bid for the next seven-year contract creeps closer.
[The Wrap] Divorce for AMP Wealth Management and AMP Capital
24 October 2020 - AMP Wealth Management's decision to move $10 billion of funds to a passive mandate in international hands leaves more questions than answers.
AMP change KiwiSaver from active to passive
20 October 2020 - Major switch up in the KiwiSaver investment strategy for AMP NZWM
AMP reports 'increase in interest' in its businesses
3 September 2020 - AMP Group says it will undertake a review of its assets and businesses that could put its New Zealand business back up for sale.
AMP makes top-level changes amid allegations
24 August 2020 - AMP has announced a new chairman and AMP Capital chief executive as the company grapples with allegations of sexual harassment.
Vernon steps into AMP Australia role - for a while
14 August 2020 - AMP New Zealand wealth chief executive Blair Vernon has been seconded into a big role with its Australian parent company.
Shake-up at AMP
6 August 2020 - AMP Australia's chief executive is standing down, leading to changes in New Zealand, too.
'Retirees' stick with KiwiSaver, AMP says
3 August 2020 - More people over the pension age are choosing to keep their KiwiSaver funds active, AMP Wealth Management says.
AMP predicts profit drop
31 July 2020 - AMP is flagging its profit may drop by more than 50% in the first half of this financial year.
AMP goes carbon neutral
9 July 2020 - AMP Wealth Management says it is a carbon-neutral business, backed by its Toitū carbonzero certification that represents emissions measured, verified and offset for 2019.
AMP ditches offices
10 June 2020 - AMP Wealth Management New Zealand (AMP), is planning to exit its premises in the Auckland and Wellington CBDs and will move to adopt fully flexible working on an ongoing basis.
CoFI submitters: Slow down
8 June 2020 - New Zealand’s financial services sector has asked for more time to be spent on developing the Conduct of Financial Institutions Bill – and warned there could be unintended consequences of the bill in its current form.
AMP puts stop to wealth management sale plans
8 May 2020 - AMP has told the NZX that it has ceased plans to divest its New Zealand wealth management business, following the economic and financial markets disruption caused by the Covid-19 pandemic.
AMP sale slows
24 April 2020 - AMP managing director Blair Vernon says the sale of the business's New Zealand wealth arm is not on hold - but progress has slowed.
Advisers helping clients do better: AMP
23 April 2020 - Some KiwiSaver members could get a nasty surprise when they receive an update from their provider telling them what sort of income their savings could generate in retirement, one provider says.
Managers ramp up communication
5 April 2020 - Fund managers’ communication channels have been put into overdrive by market downturns around the world – and some predict it could change the way KiwiSaver members engage with their investments in future.
Lapse rates up; profit down at AMP Life
17 February 2020 - AMP Life’s profit has halved in the 12 months to December 31.
A number of buyers interested in AMP
13 February 2020 - AMP says plans to sell its New Zealand wealth management business are well under way and that it is in discussions with an unspecified "number" of parties.
[The Wrap] Five predictions for 2020
10 January 2020 - It's the start of a new year and a new decade. While it's 2020, Philip Macalister looks ahead and makes some predictions around what may happen in the financial advice sector this year.
AMP reports fall in NZ AUM
24 October 2019 - AMP’s assets under management in New Zealand have fallen, which the company is ascribing to a weaker New Zealand dollar.
Two well-known life insurance execs join Allianz
25 September 2019 - Two former AMP executives join specialist and travel insurance provider Allianz Partners.
Wealthpoint makes appointments
18 August 2019 - New adviser group Wealthpoint is expanding with additions to its team.
[The Wrap] AMP lays out a bold future plan. Will it work?
9 August 2019 - AMP this week, arguably, laid out what has to be one of the most audacious plans seen in the financial services industry for a long time.
AMP completes capital raising
9 August 2019 - AMP has successfully completed the institutional placement to raise A$650 million.
AMP revises Resolution Life deal, further plans to spin off NZ wealth business
8 August 2019 - AMP says it will “further localise” its New Zealand wealth management business, including AdviceFirst, and explore divestment to realise its value.
AMP loses fight over KiwiSaver ad
22 July 2019 - AMP has lost its fight against a complaint laid by advisers about its advertising.
(The Wrap] The anatomy of the AMP shambles
20 July 2019 - Last week it was more woes for ANZ, this week AMP's New Zealand exit plans fell into further disarray.
RBNZ says no change in approach on Resolution Life's AMP purchase
19 July 2019 - The Reserve Bank says it hasn’t changed its approach to applications for changes of ownership of life insurance companies and nor has there been any change in New Zealand insurance law or regulations since October 2018.
AMP: Resolution Life deal won't go ahead as is
15 July 2019 - AMP says the sale of AMP Life to Resolution Life is highly unlikely to proceed on the current terms.
Adviser spin-off 'good news for both sides'
26 June 2019 - AMP and its advisers could both be better off without agreements tying them to the business, commentators say.
AMP advisers finally break free from the mother ship
20 June 2019 - Advisers aligned to AMP have finally reached an agreement to break free from their long-standing relationship with the company and have set up a new group.
AMP's NZ cash flows turn negative
2 May 2019 - AMP says its New Zealand wealth management business lifted assets under management by 7 per cent in the first quarter of this year but its cashflows turned negative.
AMP says switching campaign paying off
27 March 2019 - KiwiSaver provider AMP says its latest marketing campaign has encouraged more than 100,000 customers in its default fund to make an active choice about their investments.
AMP leadership skips bonuses
20 March 2019 - AMP's group leadership team will receive no-short term cash incentives for this financial year, a move that will cost them hundreds of thousands of dollars each.
Insurers receive individual conduct reports
12 March 2019 - One insurance boss says her company refers two or three advisers a year to the Financial Markets Authority due to concerns about their advice practices – but so far that’s yielded little result.
IPO abandoned, AMP beds down wealth business
12 March 2019 - AMP has announced the appointment of the executive team for AMP Wealth Management New Zealand.
AMP gets rating downgrade
5 March 2019 - Ratings house S&P has downgraded AMP from A to A- with a negative outlook, ahead of the sale of its insurance business.
AMP profit slashed by Aussie scandals
15 February 2019 - AMP’s New Zealand profit might have looked a bit grim – but things were much worse on the other side of the Tasman.
AMP puts off listing
14 February 2019 - AMP is deferring a planned initial public offering (IPO) of its wealth management business until after it has separated off its insurance operations.
AMP rings changes
7 February 2019 - AMP is making alterations to its leadership team as it prepares for major changes to the business this year.
Regan retires
5 December 2018 - The former head of AMP NZ has gone off to retirement in the last leadership changes at AMP.
AMP new chief executive in place
3 December 2018 - Francesco De Ferrari has started as AMP’s new chief executive.
AMP to support women in advice
26 November 2018 - AMP is developing a programme to support female financial advisers, modelled on its own women's leadership programmes.
AdviceFirst on the block
26 November 2018 - Change is on the horizon for AMP advisers.
AMP: Declining profitability ahead
2 November 2018 - AMP shareholders will reap the benefit of the sale of its trans-Tasman insurance business, which the financial services provider says it quit out of fears of declining profitability.
Off-shore conferences off the cards
30 October 2018 - The Financial Markets Authority seems to have got its wish - overseas trips will soon be few and far between for insurance advisers.
[The Wrap] Making sense of the AMP deal; Who should run CPD?
26 October 2018 - This week heralds the end of quite an era, with the news that AMP is being split up and sold. Here's my attempt trying to understand what it means.
Advisers await information on AMP sale
26 October 2018 - Advisers are waiting for more detail on what AMP’s sale of its life business, and planned IPO of its wealth management arm, will mean for them.
AMP 'workshopping' with advisers
25 October 2018 - AMP will work through the implications of its life business sale and upcoming wealth IPO with the advisers potentially affected, its New Zealand managing director Blair Vernon says.
AMP sells life business, puts Kiwi advice on the block
25 October 2018 - AMP is to sell its wealth protection and mature business, AMP Life, to Resolution Life and reinsure its New Zealand retail wealth protection with Swiss Re in a deal worth A$3.45 billion.
AMP credit rating cut on back of Royal Commission
31 August 2018 - Standard & Poor’s downgrade AMP Life’s credit rating following revelations from the Royal Commission in Australia.
AMP appoints new CEO
22 August 2018 - AMP appoints a new CEO who says it's full-speed ahead on accelerating change in the company.
AMP profits down, but result solid
8 August 2018 - AMP's New Zealand financial services division noted an increase in income protection claims in the first six months of 2018 and a growing number of policy lapses, which weighed on earnings in the period.
Active discussion on sale of AMP NZ under way
27 July 2018 - AMP is in active discussion about the sale of its New Zealand business.
AMP set degree level as minimum standard
25 July 2018 - AMP Australia has replaced its planner training and development program with a new one which is based on a minimum degree standard. The company said it...
Advisers vindicated in latest report
19 July 2018 - Advisers have been vindicated by a report that unearthed serious problems with many of the country’s biggest qualifying financial entities (QFEs), one product provider says.
AMP appoints new chairman
21 June 2018 - AMP has hired former Commonwealth Bank head David Murray as its new board chairman.
Opportunity for independent advisers to shine
10 May 2018 - Fallout from Australia’s Royal Commission of Inquiry into Misconduct in the Banking, Superannuation and Financial Services Industry is likely to lead to more focus on compliance in New Zealand – but will create an opportunity for independent advisers.
[OPINION] What is the future for AMP?
8 May 2018 - AMP just can’t keep itself out of the news at the moment. The latest “event” is that three directors have resigned from the board. Two immediately...
AMP fallout continues
8 May 2018 - More Australian board resignations for embattled financial services provider AMP.
New chairman for AMP
7 May 2018 - AMP has replaced its board chair, who resigned amid the fallout from Australia's Royal Commission.
AMP denies criminal offending
4 May 2018 - [ROYAL COMMISSION] AMP 'strenuously denies' it committed a criminal offence when it supplied a law firm's report to the Australian regulator.
More heads roll at AMP
30 April 2018 - [ROYAL COMMISSION] There have been more top level resignations at AMP in the wake of damning revelations at the Royal Commission in Australia.
Heads roll at AMP Australia
20 April 2018 - [ROYAL COMMISSION] AMP says it apologises “unreservedly” and its chief executive will stand down immediately, after its misconduct was brought to light by Australia’s banking royal commission.
Regan: AMP's conduct unacceptable
18 April 2018 - [ROYAL COMMISSION] AMP has admitted putting shareholders before customers when it charged clients fees for financial advice they did not receive.
Fidelity: Incentives regime changing
11 April 2018 - Fidelity Life says its adviser recognition programme is evolving to emphasise education, professional development and corporate social responsibility.
The Wrap: Unofficial QSMs; Formal CWG complaint lodged: Will anyone follow AMP?
6 April 2018 - It may have been another short week, but that didn't stop it from being one with plenty of heat and action for financial advisers. Here's our take on what's happened.
AMP: No more overseas trips
5 April 2018 - [UPDATED] AMP is putting a stop to its overseas trip incentives for advisers.
AMP announces changes at top
26 March 2018 - AMP has announced its chief executive, Craig Meller, will retire later this year.
Rethinking retirement assumptions
2 February 2018 - Advances in healthcare and technology have improved life expectancy in New Zealand at a staggering rate – by almost two years every decade since 1960. Investors retiring at 65 should be preparing for a long retirement. In this commentary John Berry asks how long should advisers target for their clients’ savings to last, and do historic assumptions for growth asset allocations for retirees need a rethink?
FSC suffers financial blow but integration on cards
7 December 2017 - Insurers giving up their memberships have hit the Financial Services Council in the pocket.
New board at FSC
17 November 2017 - The Financial Services Council has elected a new board at its recent annual meeting. Chief executive Richard Klipin said the FSC is in good shape financially...
Advisers could do better by women: AMP
13 November 2017 - Financial advisers could do more to boost the confidence of women accessing their services, AMP Financial Services general manager of advice and sales Therese Singleton says.
FSLAB could be slower
24 October 2017 - Progress of the Financial Services Legislation Amendment Bill may be slower under the new Labour-led government than it might have been under National.
Spicers brand disappears
2 October 2017 - Spicers is no longer a feature of the New Zealand financial advice market.
No need to open KiwiSaver to finance companies: AMP
15 September 2017 - There should not be a need for finance companies to tap into borrowers’ KiwiSaver accounts when they default on a loan, one provider says.
Good Returns' columnist takes out top award
11 September 2017 - The Financial Services Council and Workplace Savings handed out awards to industry leaders and funds at its conference last week. Here are all the winners.
Goals-based investing: a different way of thinking
5 September 2017 - Investing to meet long-term goals and manage financial risks in a changing investment environment requires a different way of thinking.
Solid result from AMP
18 August 2017 - Blair Vernon describes his first results as general manager of AMP New Zealand as “solid” and carrying on the work done by his predecessor, Jack Regan.
Good start with KiwiSaver, but growth yet to come
18 August 2017 - KiwiSaver has made a great start but the growth is still to come, AMP New Zealand general manager Blair Vernon says. “I don’t think we’ve built all...
QFEs get licensing head-start
15 August 2017 - Dealer groups and adviser networks may opt for financial advice provider status (FAP) under the new legislation, but it is expected to be an easier transition for existing qualifying financial entities (QFEs).
Financial Advice NZ? Wait and see
10 August 2017 - One adviser association will wait a couple of years before deciding whether its members will join Financial Advice NZ.
International equities: Approach with caution
31 July 2017 - Managers are taking a more cautious approach to global equities as valuations remain stubbornly high.
KiwiSaver could better serve low-income earners: AMP
28 June 2017 - Financial advisers play an important role in helping people on lower incomes navigate retirement savings, AMP’s general manager in New Zealand says.
AMP offers zero fees
24 March 2017 - AMP is offering KiwiSaver members the chance to pay nothing in member and admin fees for a year when they switch to its scheme. It said the scheme also...
White takes top AMP prize again
14 March 2017 - A familiar face has again taken the top honours at the AMP Awards.
AMP boosts profit, promises evolution
9 February 2017 - AMP’s managing director in New Zealand says developing its adviser distribution channel is part of its strategy to grow shareholder value in 2017.
AMP's Jack Regan reflects on 10 years at the helm
19 January 2017 - AMP’s former managing director in New Zealand says he is leaving the financial services sector in a much healthier position than that in which he found it.
Dispute over $2 mill life policy heads back to court
21 December 2016 - A protracted legal battle over AXA's refusal to pay out on the life insurance policy of a murdered Bangladeshi migrant is heading back to court after the Court of Appeal overturned the High Court's summary judgment against payment.
AMP NZ gets a new managing director
12 December 2016 - AMP has just announced that it has appointed a new managing director to replace Jack Regan.
AMP takes out top award
1 December 2016 - AMP Financial Services was earlier this month named as the top life insurer of the year, beating out competition from Asteron and Partners Life.
Jack Regan gets a new role in AMP reshuffle
29 November 2016 - AMP has made a series of changes to its senior leadership team to create "clearer accountability for driving short-term business performance and delivering longer-term growth."
Advisers' big fee hurdle
13 September 2016 - Advisers and the advice industry have a challenge to get clients to understand that financial advice is not a free good and that they will need to pay for it in some way, AMP's director of sales and advice, Blair Vernon, says.
Banks secure hold on KiwiSaver
12 August 2016 - The power of KiwiSaver as a driver of fund managers’ fortunes, and the dominance of big banks within it, is made clear in the latest Morningstar market share report.
KiwiSaver increasingly seen as retirement income option
8 July 2016 - A growing number of high-net-worth individuals are looking to KiwiSaver as a way to manage their retirement income, AMP’s general manager of insurance and investments says.
AMP plans new funds
5 July 2016 - [UPDATED] AMP is to expand its KiwiSaver offering - and its general manager of insurance and investments says it's all in the name of giving members more choice.
Lack of advisers a '10- to 30-year problem'
23 May 2016 - An ageing adviser workforce means New Zealanders may not be able to get advice when they need it - and the problem could last decades, AMP's director of advice says.
AMP makes advice appointments
19 May 2016 - AMP has appointed Richard Brown has head of distribution and Clive Atkins as head of enterprise distribution, within its advice and sales business.
Spicers, AdviceFirst to merge
25 April 2016 - AMP is amalgamating its advice brands into one operation.
More changes at AMP Capital
18 April 2016 - AMP Capital’s head of investment strategy has resigned.
KiwiSaver key to insurance future
12 April 2016 - AMP expects bundling life insurance with KiwiSaver to become a key way to fight New Zealand’s under-insurance problem.
AMP offers insurance deal to stem flow of customers to bank KiwiSaver schemes
24 March 2016 - AMP is rolling out a new product which it says will "change the insurance market in New Zealand", and stem the flow of KiwiSaver members moving to banks.
AMP advisers get awards
8 March 2016 - AMP advisers and advice businesses have been recognised at this year’s AMP Awards.
AMP plans no premium increases this year
21 February 2016 - For the first time ever life insurance has accounted for less than half of AMP’s operating earnings.
AMP lifts profit as cashflows soar more than 60%
18 February 2016 - AMP Financial Services New Zealand has reported operating earnings of $129.2 million for the full year to December 2015, an increase of 7.5% on the previous year.
Risks indicators an education tool
18 January 2016 - New risk indicators that will be used to describe managed funds' volatility in disclosure documents should help build investor confidence despite their flaws, industry participants say.
Five-year KiwiSaver break too long
14 January 2016 - KiwiSaver members should not be allowed to “set and forget” a five-year contributions holiday, providers and industry commentators say.
Harbour picks up mandate from AMP
22 December 2015 - [UPDATED] Harbour Asset Management has picked up an $180 million fixed income mandate for a range of Westpac-distributed funds.
AMP reveals 14 enhancements
6 November 2015 - Insurers need to get better at explaining the value of their products to clients, AMP’s general manager of investments and insurance says.
All change for products and pricing
2 November 2015 - Over the past few weeks there has been so much product and pricing activity it has been hard to keep track of it all. In strict alphabetical order the companies that have made changes include: AIA, Accuro, AMP, Asteron Life, BNZ Life, CIGNA, and Sovereign.
AMP launches app
20 October 2015 - AMP has launched its first app, to give customers the ability to track their retirement savings and some insurances from their mobiles. Along with account...
AMP gets DIMS licence
4 October 2015 - AMP has been granted a DIMS licence. AMP’s licence enables appointed AFAs to provide class DIMS on the AMP Wealthview platform. AMP said the licence...
Problem of million non-contributing KiwiSaver members
29 September 2015 - AMP is calling for the one million New Zealanders who have stopped contributing to KiwiSaver on a regular basis to consider reinstating regular contributions in order to save for their retirement.
Getting to know... Elaine Campbell
11 September 2015 - Known to many advisers from her time as head of compliance at the FMA, Elaine Campbell is now on the other side of the regulatory fence, at AMP. She talks being a working mum, moving from Wellington and welding...
AMP adds another major TV sponsorship
8 September 2015 - AMP has been named as the broadcast sponsor of The Block NZ: Villa Wars which will screen on TV3 later this year. The company already sponsors the...
Quarter of AMP's profit now from wealth management
24 August 2015 - AMP is making progress in diversifying its business following changes to life insurance tax with 25% of its most recent profit coming from wealth management.
Stick with KiwiSaver past 65, AMP urges
5 August 2015 - Many New Zealanders have the mistaken belief that once they get to 65, they have to pull their money out of KiwiSaver, AMP New Zealand’s general manager of investments and insurance, Therese Singleton, says.
Silver ratings for AMP KiwiSaver
30 July 2015 - Morningstar has given silver ratings to a range of AMP KiwiSaver funds.
QROPS now trapped in KiwiSaver funds
29 June 2015 - People who have moved their UK pension to KiwiSaver schemes are now trapped in their current funds, following a decision from the UK tax department.
Churn debate: AMP surprised
2 June 2015 - AMP was "suprised, but pleasantly surprised" that the FMA has launched its investigation into churn.
AMP supports commission cut
7 May 2015 - AMP New Zealand has lent its support to colleagues across the ditch, who have slashed advisers' upfront commissions on life insurance to 80% of the first year’s premium.
AMP accepting competitors' application forms
28 April 2015 - A universal life insurance application form is a step closer after one insurer’s announcement that it will accept some applications using competitors’ forms.
AMP partners with Paul Henry
1 April 2015 - AMP is to become the exclusive broadcast partner for MediaWorks’ new programme Paul Henry. The breakfast show will be broadcast weekday mornings and...
NZS: AMP may not be replaced
31 March 2015 - NZ Super Fund says it is making good progress in appointing an external manager to replace AMP as its manager of NZ equities. But it says it may end up managing the investments in-house.
AMP life business flat, but company on track
25 February 2015 - AMP’s goal of diversifying its business is showing signs of success with its wealth management business underpinning a strong performance in the 12 months to December 31.
AMP adviser training by numbers
24 February 2015 - AMP managing director Jack Regan says there is a "significant improvement" in the way financial advisers are giving advice. In the 12 months to December...