Axa Financial Planning practices will be transferred to Charter Financial Planning as part of the withdrawal of the Axa brand from the Australian market.
The transition will take place between April and September.
“We are making a rather natural connection to the rest of the adviser community,” AMP director Andrew Waddell told InvestorDaily, explaining the reason for the move.
Under the Charter Financial Planning licence, Axa Financial Planning businesses will have five branding options, including the use of the AMP brand and endorsement.
Advisers will be able to build their own brand or leverage the leading institutional brand and have the freedom to tailor their brand to suit their own preferences.
“In relation to what we need to do next, it is really making the Axa Financial Planning advisers aware of the options they have, and then working with them about implementing their preferred options,” Waddell said.
“In terms of the pre-work we’ve done through the adviser association and the working group that has helped us come to this decision, [the response] has been pretty strong.”
With the merger of Axa Australia and New Zealand with AMP, the ownership and usage rights of the Axa brand, including Axa Financial Planning, remains with Axa’s French parent company and must be removed from the Australian and New Zealand markets by March 2013.
“Practices can expect very little disruption to their businesses – other than the branding of their licensee, very little will change. They will have access to the same level of service and terms and conditions as before and will be supported by the same people,” Waddell said.
