HFS’ director, Colin Williams, said that none of the advisers actually left the AMP Group and there were still a couple of advisers who still operated under all three licensees, with two advisers having two adviser (representative) numbers each.
“As a result of the changes at AMP, the number of advisers that are authorised to provide advice under three licensees dropped from 19 to 12. The variance between the number of advisers and actual advisers dropped from 373 to 358,” he said.
Commenting on the losses for the week, Williams said the changes this week were dominated by three licensees, all losing 10 adviser roles each, however none of the advisers had actually left their business.