Financial institutions are believed to be throwing large amounts of money in the direction of around 100 Axa Australia financial advisory groups in a bid to lure them across.
Unconfirmed reports claim around 100 Axa Australia firms have met with institutions after some have been wooed by figures of well over $1 million outside of what the firm might earn during their time with Axa.
Suggestions that National Australia Bank-owned wealth division MLC is one of the core groups behind luring Axa groups by holding 'meet and greet' sessions has been refuted by the group.
"MLC regularly runs Business to Business days with advisers from across the industry to showcase the services and support provided by MLC's licensees," MLC executive general manager of advice and marketing Richard Nunn said.
"We believe now is a natural time for advisers to review their choice of licensee in light of the regulatory changes and recent M&A activity across the industry.
"With our experience in transitioning businesses to fee-for-advice models, MLC is a natural partner for advisers looking to position themselves for success over the next decade."
Axa network development general manager Paul Williams said reports of an exodus of advisers within the Axa Financial Planning and Charter Financial Planning network were just "a lot of noise".
"We have certainly not seen what has rumoured to be taking place and we know intimately our principals' intentions. Of course there has been lots of activity to try and recruit our advisers; we are well aware of that," Williams said.
He said there were a large number of planner opportunities within Axa and Charter due to retirements and its Discovery program.
"There are 90 new planner opportunities within Axa and Charter right now. On top of that we've also got around 25 opportunities for new advisers to come in through the discovery program," he said.
"We are seeing a bit of a spike probably over eight to 10 weeks, so that's a good forward indicator of pipelines of new clients coming through and the need to grow their adviser numbers again."
Axa-owned Haywood Financial Management & Partners financial planner Scott Haywood said practices within a merged group were in a unique position.
"AMP has come back to all of their advisers and made an offer to them with the hope they will stay with the licensee," Haywood said.
He said while there had been much speculation of groups moving, fundamentally nothing had changed and it was business as usual.
Last month, AMP moved to allay concerns advisers within its newly-acquired Axa Australia and New Zealand stable would not benefit from remaining with the financial services group after making a series of "welcome" offers to its advice network.
In April, AMP chief executive and managing director Craig Dunn contacted Axa advisers with a package that contained "five core elements", which included practice finance benefits, increases to marketing, technology and education support, enhancements to its buyout offer, which involved moving from the current two to three times recurring revenue to two to 2.2 times total value, including the value participation scheme margin share.
In late March, AMP became the official owner of Axa Asia Pacific Holdings, the parent company of the Axa dealer groups.
