You can now enjoy greater confidence when seeking financial advice thanks to new regulations that came into force in New Zealand on 1 July 2011.
In the new regulated environment, AMP is a Qualifying Financial Entity ("QFE"), and all AMP Advisers are Nominated Representatives of AMP's QFE. To find out more about what it means to be a QFE click here to visit the Financial Markets Authority website.
AMP's Nominated Representatives are accredited to provide advice on a variety of products from AMP, and other third party providers (referred to as AMP Connect partners). Selected products from these providers are included in the AMP Approved Products List.
The new regulations divide financial products into two categories and specify the requirements for Advisers wishing to provide services in relation to these products.
Category 1 Products
Category 1 products are generally more complex financial products and include most investment products. If you are seeking advice regarding any Category 1 products available through AMP, you should ensure that your Adviser is an Authorised Financial Adviser (AFA) or a suitably accredited Nominated Representative of AMP's QFE.
Category 1 products* from AMP:
AMP Savings and Investment Portfolio (SIP) Insurance Bond (IB)
AMP Whole of Life policies
AMP Endowment policies
AMP Approved Category 1 products available via accredited AFA's only:
Investments provided by AMP's Connect partners
KiwiSaver schemes provided by AMP's Connect partners
* Some of these products are closed to new investors
Category 2 Products
Category 2 products are generally less complex financial products. You can get advice or recommendations about any Category 2 products available through AMP from an Authorised Financial Adviser (AFA) or a suitably accredited Nominated Representative of AMP's QFE.
Category 2 products from AMP:
Life Insurance (from AMP and other providers)
General Insurance (e.g. home, contents, car etc from AMP and other providers)
Health Insurance (from other providers)
Travel Insurance (from other providers)
Lending (from AMP and other providers)
AMP Approved Category 2 products provided by AMP's Connect partners: