Financial planners operating as part of the Axa Financial Advice Network (FAN) have been provided with a significant funding opportunity through the organisation's merger with AMP.
"We recently announced a welcome package for Axa FAN advisers among other initiatives we are launching within the business, including a very generous offer from AMP Bank of $100 million of bank finance on very attractive terms," Axa network development general manager Paul Williams said.
"It's to help our practices with acquisition, succession and refinancing, so that's been a strong enhancement to our welcome package."
Feedback from Axa FAN advisers showed they very happy with the welcome package as well as with the continued level of support they were receiving from the Axa dealer groups, Williams said.
In regard to the merger between Axa and AMP in general, he said it was progressing better than expected even though it had triggered activity from competitors.
"We're seeing evidence of some competitors trying to take advantage of the merged opportunities. But I guess as is always the case with mergers and [these types of] environments, some advisers will leave us and equally some advisers will join us and that's certainly been the case," he said.
"That's nothing unexpected; it's just competition and competition is a great thing."
Currently the Axa FAN had not experienced any net gains or losses in adviser numbers since the merger and Williams said he did not expect to see any departure from this trend in the immediate future.
