Mr Vernon noted:
“We will complete the renovation of our distribution channels, which includes the re-contracting of independent financial advisers while continuing to grow and strengthen our advice proposition through our employed advisers, both under our AMP brand and through AdviceFirst.
“The completion of the repatriation of information technology services to New Zealand provides a state-of-the-art technology platform, which will enable us to respond locally to further enhance the digital experience for our clients, including the ongoing release of additional improvements to our online portal and My AMP app.”
Other key highlights for AMP Wealth Management New Zealand include:
- AMP KiwiSaver Scheme members received $30.5 million in first home withdrawals as AMP Wealth Management New Zealand helped 1,029 AMP KiwiSaver Scheme members to buy their first home. AMP KiwiSaver Scheme members also withdrew $60.2 million to help fund their retirement.
- The AMP KiwiSaver Scheme continues to be a key growth engine for the wealth management business, with approximately 9.8% of the total KiwiSaver market as at 30 June 2019 and around 225,000 KiwiSaver clients. The average member balance in the AMP KiwiSaver Scheme increased to $24,992, compared to the industry average of $19,246 (as at 31 March 2019).
- Moving to exclude any direct investments in companies associated with the manufacturing of firearms and components banned under the amendment to the Firearms Bill. This decision is consistent with our responsible investment philosophy, which excludes investments in a range of companies on moral and ethical grounds.
- AMP employed advisers visited dozens of workplaces all over New Zealand to provide helpful guidance and personalised advice to every day Kiwis face-to-face.
- Through its employed financial advisers AdviceFirst has provided personalised financial advice reviews to more than 1,500 clients, with detailed personalised statements of advice to more than 1,000 clients, helping them to realise a better future.
- Launching a free, online video series aimed at encouraging more New Zealanders to take an active interest in their financial wellbeing – go to amp.co.nz/morefrommoney.
- Proudly supporting 'My Life To Live', a photo exhibition coordinated by Living Wage Aotearoa New Zealand and Changemakers Resettlement Forum celebrating the immense contribution of refugee background workers in New Zealand.
- Continuing its partnership with Key To Life Trust and got behind Gumboot Friday in support of Mike King to continue efforts to improve awareness of mental health issues, including a series of corporate and client-facing wellbeing seminars hosted by AdviceFirst.
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