AMP - AMP Limited

[Toyota Lexcen]

Is Dover Financial closing going to help AMP?

 

[Junior]

Is Dover Financial closing going to help AMP?

Dover closing means 500 advisers will be scrambling to find a new AFSL to join. I would think AMP may take on some of those advisers, but I guarantee they will spend time & resources scrutinising the quality of those individuals before signing them up.

 

[Porper]

AMP broken down through support. Micro triangle formed beneath resistance. There is a short-term target at $3.02 but if that caves in...down she goes. Obviously the company has issues and the Royal Commission findings are a known unknown so it could get volatile.

 

[So_Cynical]

Spent August going sideways at around $3.40, this would have to be one of the greatest contrarian trades of all time, well the last 3 years anyway.

Im thinking that the new guy will split off the advice business and then maybe have a go a being a real bank, if they had a genuine go at banking then maybe reinvent themselves/AMP into something else, i mean the current model is doomed so whats next?.

 

[sptrawler]

Spent August going sideways at around $3.40, this would have to be one of the greatest contrarian trades of all time, well the last 3 years anyway.

Im thinking that the new guy will split off the advice business and then maybe have a go a being a real bank, if they had a genuine go at banking then maybe reinvent themselves/AMP into something else, i mean the current model is doomed so whats next?.

I know it's weird and I don't know why I'm thinking it, but I kind of wonder if Wes wont have a go, I mean basket case, bank licence it screams Wes.lol

 

[Toyota Lexcen]

always thought a takeover option.

the whole country needs less banks/financial providers. too many and thats why in royal commission

do they have bank license?

 

[So_Cynical]

I know it's weird and I don't know why I'm thinking it, but I kind of wonder if Wes wont have a go, I mean basket case, bank licence it screams Wes.lol

Under the old WES leadership perhaps..spent a bit of time looking at the non bank advise financials last night, they have all been sold off and all have that vertically integrated model..whats to become of them?

 

[sptrawler]

always thought a takeover option.

the whole country needs less banks/financial providers. too many and thats why in royal commission

do they have bank license?

Yes

 

[sptrawler]

Under the old WES leadership perhaps..spent a bit of time looking at the non bank advise financials last night, they have all been sold off and all have that vertically integrated model..whats to become of them?

The vertically integrated model, might be too difficult to segregate and control, which leaves the management exposed to litigation for negligence.
It is a highly regulated industry, and as shown by the Royal Commission all sorts of shenanigans can go on, at different levels of the organisation.
The problem for management, they can delegate responsibility but not accountability, they will be held to account they take the high salary.

 

[So_Cynical]

With AMP the bulk of the revenue is advise, so if they spilt they will prob keep advise but then how robust of a business model is advise and no products?

 

[sptrawler]

With AMP the bulk of the revenue is advise, so if they spilt they will prob keep advise but then how robust of a business model is advise and no products?

Good point, but the Banks are offloading their super and advice sections, so I guess it will free up the sector to smaller players like AMP, IFL etc.
After this Royal Commission, I think there will be a pretty strict framework installed, that could well cause the smaller providers to ditch super and amalgamate. I don't think the "easy" money will be there any more, also if Labor get in the Industry funds will probably do well.
With David Murray at the helm, I think they will re invent themselves, but whether that means more or less profits, who knows.
I hold and probably will ride it through.

 

[Darc Knight]

Australia Post dumping AMP as the Superannuation provider for its Employees.
Woolworths considering it as well apparently.

https://www.superreview.com.au/news/superannuation/amp-loses-another-corporate-super-mandate

 

[basilio]

Australia Post dumping AMP as the Superannuation provider for its Employees.
Woolworths considering it as well apparently.

Interesting. Frankly I would have thought that AMP was not a good value super provider in any case. Part of me is surprised that such big institutions hadn't done their homeowork.

Or perhaps there are a range of reasons for choosing a particular company to be your go to super provider...

 

[SirRumpole]

AMP share price has been clawing its way up against the market trend.

 

[Darc Knight]

AMP share price has been clawing its way up against the market trend.

And up they keep on going - 0.91℅ today.

 

[SirRumpole]

And up they keep on going - 0.91℅ today.

They are going to have to get to $9 before I get my money back.

Not much hope of that.

 

[JTLP]

Interesting. Frankly I would have thought that AMP was not a good value super provider in any case. Part of me is surprised that such big institutions hadn't done their homeowork.

Or perhaps there are a range of reasons for choosing a particular company to be your go to super provider...

I’d say most people carry their super across or have done their work and go with someone else.

Only new starters would be considering the default product.

 

[sptrawler]

They are going to have to get to $9 before I get my money back.

Not much hope of that.

Wow, something else we have in common.

 

[Redbeard]

Good opportunity to dilute them ATM.

 

[So_Cynical]

Getting smashed today $2.70 down 18+% ~ who didn't see that coming?, AMP selling off some large chunks to simplify the business and raise about 3 Billion...