{"id":45912,"date":"2019-08-09T09:50:38","date_gmt":"2019-08-08T23:50:38","guid":{"rendered":"https:\/\/riskinfo.com.au\/news\/?p=45912"},"modified":"2019-08-13T23:37:46","modified_gmt":"2019-08-13T13:37:46","slug":"amp-announces-transformational-strategy-for-wealth-management","status":"publish","type":"post","link":"https:\/\/riskinfo.com.au\/news\/2019\/08\/09\/amp-announces-transformational-strategy-for-wealth-management\/","title":{"rendered":"AMP Announces Transformational Strategy for Wealth Management"},"content":{"rendered":"<p class=\"p1\"><span class=\"s1\">AMP\u2019s three-year transformational strategy aims to make a shift into a simpler, client-focused business that is higher growth and higher return.<\/span><\/p>\n<p><!--more--><\/p>\n<p class=\"p1\"><span class=\"s1\">AMP stated the strategy will be supported by a A$1-1.3 billion program to invest in the transformation.<\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">Under the strategy, AMP states it will:<\/span><\/p>\n<ul>\n<li class=\"p1\"><span class=\"s1\">Divest majority ownership in AMP Life to release capital and further localise New Zealand wealth management, exploring options to divest<\/span><\/li>\n<li class=\"p1\"><span class=\"s1\">Reinvent wealth management in Australia, helping clients realise their ambitions<\/span><\/li>\n<li class=\"p1\"><span class=\"s1\">Grow contemporary solutions in Australian wealth management including shifting focus to direct-to-client channels and digital solutions<\/span><\/li>\n<li class=\"p1\"><span class=\"s1\">Further integrate AMP Bank solutions with wealth management, continuing strong growth;. target double-digit earnings growth over medium term<\/span><\/li>\n<li class=\"p1\"><span class=\"s1\">Fix legacy issues in Australian wealth management including reshaping aligned advice (buyback changes; fewer, more productive advisers), simplifying super<\/span><\/li>\n<\/ul>\n<p class=\"p1\"><span class=\"s1\">The company also intends to grow AMP Capital through differentiated capabilities such as in real assets and public markets and pursue international growth opportunities.<\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">It stated it will build on its relationships in China, Japan and the United States and explore opportunities to expand real asset and global equity capabilities into international markets.<\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">Also under the strategy, is creating an AMP culture that is client led, entrepreneurial, and accountable, with effective management of financial and non-financial risk.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>AMP\u2019s three-year transformational strategy aims to make a shift into a simpler, client-focused business that is higher growth and higher return.<\/p>\n","protected":false},"author":20,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[48,4474],"tags":[],"class_list":["post-45912","post","type-post","status-publish","format-standard","category-company-news","category-practice-management"],"_links":{"self":[{"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/posts\/45912","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/users\/20"}],"replies":[{"embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/comments?post=45912"}],"version-history":[{"count":0,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/posts\/45912\/revisions"}],"wp:attachment":[{"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/media?parent=45912"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/categories?post=45912"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/tags?post=45912"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}