AMP Financial Services has appointed AMP Horizons Academy director, Tim Steel, as the new ipac managing director, effective from early 2013.
The move formed part of AMP’s review of its advice businesses, following its merger with AXA in 2011, the company said.
Steele will remain in his Horizons role until the change occurs. His replacement will be announced shortly.
ipac has been led by Neil Swindells since 2009, but he will commence a role within AMP, responsible for the company’s direct equity investments in financial planning practices across several licensees.
Both Steele and Swindells will report to AMP advice network and strategic development director Andrew Waddell.
AMP said its other licensee groups will remain unchanged as a reflection of the company’s commitment to a multi-brand approach to advice, while licensee services will be consolidated to provide planner and adviser support under a new division called AMP Advice.
Steve Helmich, now advice network and client solutions director, and Waddell will lead the division and report directly to AMP Financial Services managing director, Craig Meller.
The changes are expected to formally take effect in the first quarter of 2013.
