Update on the AMP Wealth Management New Zealand business

08 May 2020

An update from our Chief Executive, Blair Vernon, following today’s announcement:

“AMP Limited has ceased plans to divest AMP Wealth Management New Zealand, following the economic and financial markets disruption caused by the Covid-19 pandemic.

“AMP Wealth Management, and its specialist advice business AdviceFirst, will be retained by AMP and will focus on existing plans to continue to develop and grow the business locally, including through the ongoing renovation and simplification of products, such as KiwiSaver.

“Through the divestment process AMP Wealth Management has maintained its sharp focus on serving clients, business partners and supporting communities – as it has done for 175 years in New Zealand. This has included the further localisation of the business by bringing information technology services and operations back to New Zealand, which positions the business to take advantage of opportunities in the current environment.

“AMP Wealth Management is a strong, well-capitalised business, and remains focused on serving clients at a time when for all New Zealanders it’s clear that it’s even more important than ever to have access to high-quality products, services and advice that will make a significant difference in their lives and their long-term retirement outcomes.”

There are no changes for any of our clients and no changes to any of our products or services as a result of this announcement.