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AMP is a diversified financial services company with primary operations in financial advice, including financial planning and wealth management.
A big part of its business is licensing other planning groups to provide advice. AMP also has capabilities in investing (AMP Capital), banking and, until recently, insurance.
AMP demerged its Private Markets business within the AMP Capital arm, which comprised infrastructure equity, infrastructure debt and real estate.
As part of this demerger, AMP also sold AMP Capital’s Global Equities and Fixed Income business.
The ALL ORDINARIES (INDEXASX:XAO)(ASX:XAO) index danced 0.2% higher on Thursday, thanks in part to a rise in the National Australia Bank Ltd. (ASX:NAB) share price.
Australia’s share market, or the All Ordinaries (INDEXASX: XAO)(ASX: XAO), is slightly down by 0.12% at lunch.
AMP Limited (ASX:AMP) released its annual report to the ASX, revealing a 347% rise in profit.
The Australian share market, or S&P/ASX 200 (INDEXASX:XJO)(ASX:XJO), is expected to open higher Thursday.
Commonwealth Bank of Australia (ASX:CBA) shares traded marginally higher in January despite being a 3-time loser in the eyes of regulators.
The Australian Securities and Investment Commission (ASIC) released its report into conflicts of interest in financial advice yesterday afternoon.
