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'Bullied and harassed': AMP shareholders urged to confront adviser woes


‘Bullied and harassed’: AMP shareholders urged to confront adviser woes
‘Bullied and harassed’: AMP shareholders urged to confront adviser woes
Advisers have implored the wealth giant’s largest shareholders to ask some “serious questions” about their fate at the company’s upcoming annual meeting.
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An open letter to certain AMP shareholders has accused the group of “systemic bullying and harassment”, asking investors to hold the company accountable.
It has outlined details around the banking royal commission, the changes to the buyer of last resort (BOLR) valuation method and the consequent class action filed by advisers against AMP.
“We are [a] group of AMP planners who were terminated without cause, had our businesses stolen, our futures jeopardised, our families ruined and our health destroyed,” the letter stated. ....

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2020 was a record year for Australian ETFs


2020 was a record year for Australian ETFs
Emma Rapaport  |  08 Feb 2021Text size  
  
If you d told me in March that 2020 was going to be a record year for Australia s ETF industry I d tell you to pull the other one. Assets under management fell sharply in the covid-19 market sell-off, with several major asset classes in decline.
But investors defied expectations, exploiting the free-fall in March to boost their allocation to Australian equities ETFs. A dash to safety also attracted inflows to products with exposure to physical gold, while massive rebounds in US growth companies saw a renewed interest in technology-themed products. In all, 2020 was a standout year for Australian ETFs, which attracted $20 billion in new money. The $100 billion milestone is in sight. ....

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