Once again, Financial Standard readers were captivated by the evolving superannuation landscape, with this year s top stories largely focused on this space. However, there was one particular executive move that simply couldn t be scrolled past.
Justice Mark Moshinksy has ruled a timeline for mediation between AMP Financial Planning and Equity Financial Planners to begin, and a former planner has called for the firm to “do the right thing” by paying advisers and rebuilding its reputation.
AMP is appealing the Federal Court s Buyer of Last Resort (BOLR) ruling that determined in favour of AMP Financial Planning advisers who saw the valuations of businesses slashed by 40%.
The Advisers Association has expressed disappointment at AMP’s decision to appeal the BOLR verdict while AMP’s Matt Lawler says he hopes mediation will reach “an outcome that allows us to put this behind us”.