AMP integrates advice businesses and appoints MD

AMP has announced a new operating structure for its advice business, including the integration of AMP Financial Planning, AMP Advice, AMP Horizons and AMP Direct into a single unit under the leadership of newly-appointed managing director, Michael Paff.

Paff was previously the firm's director of channel services.

In the announcement, which covers all of the changes, AMP said: "The changes will see the establishment of a dedicated governance function and independent boards for each licensee to help ensure a consistently high standard of advice across the network. In addition, a new Channel Strategy and Services team will focus on simplifying processes for advisers while driving innovation."

In addition to Paff's appointment, the new leaders are:

* Michael Guggenheimer, former Hillross and AMP Financial Planning MD, appointed as executive director Advice, tasked with establishing the licensee boards and continuing AMP's focus on quality governance;
* Dean Thomas, former director of product strategy and services, appointed as managing director, Hillross;
* Neil Swindells, former head of iPac, appointed as managing director, Charter;
* Chris Digby, former head of financial planning - Hillross & Charter (NSW/ACT), appointed as managing director of SMSF Advice and Jigsaw; and
* Dave Akers, former AMP transformation director, appointed as director, Channel Strategy and Services.

Jack Regan, group executive Advice and New Zealand said: "We are proud of the difference our financial advisers make to the lives of their customers and recognise the value of our Hillross, Charter, Jigsaw, SMSF Advice, AMP Financial Planning and AMP Advice businesses. Our simplified and enhanced operating structure will better support and grow this network."