Director of AMP’s Financial Advice Network (FAN) Andrew Waddell said both licensees share a very close connection and this solution will allow the company to preserve the strength of the AXA FP network while enhancing Charter FP’s highly rated licensee* status.

“AXA FP practices will have access to a range of branding options enabling them to choose the one that best suits their business,” Mr Waddell said. Under the Charter FP licence, AXA FP businesses will have five branding options, including the use of the AMP brand and endorsement.

Mr Waddell said advisers will be able to build their own brand or leverage the leading institutional brand. They will have the freedom to tailor their brand to suit their unique preferences.

“We worked closely with our Authorised Representatives’ Association and conducted extensive research to understand our advisers’ preferred branding option and which solution would offer them the best outcome for their businesses.

“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,” Mr Waddell said.

The transition will take place between April and September 2012. With the merger of AXA Australia and New Zealand with AMP, the ownership and usage rights of the AXA brand, including AXA FP, remains with AXA’s French parent company and must be removed from the Australian and New Zealand markets by March 2013.

FAN’s leadership team will be meeting with practice principals over the coming weeks to discuss the migration plan, including details of logistical and financial support.

*According to Brandmangement/CoreData 2011 Licensee research, the industry rates Charter FP as the second best licensee in the industry (behind own AFSL) and second in an assessment of the top 5 licensees they would work for (behind having their own AFSL).

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