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2.financial advice, 2.Strategy

24 Apr 2018 (AFR) – Banking royal commission: The real cost of financial advice

(24 April 2018, AFR, p2, by Jennifer Hewett)

‘The guiding principles for AMP’s remediation program for clients who received dud and damaging financial advice certainly sound reassuring. They include the company’s commitment to “timeliness and transparency” as well as to restoring the client’s financial position. But don’t ever try persuading the hapless clients of AMP’s former authorised representative, referred to by the banking royal commission as “Mr E”, that AMP has any concept of the meaning of timeliness or transparency. At least when Mr E’s clients finally find out how much that association with AMP has cost them. One couple who had the misfortune to use the services of Mr E in November 2016, for example, rolled over their superannuation…’

Read more at AFR.com (might need AFR login access, or try: AFR.com /trial)

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