AMP grows recently offloaded advisor network

AMP Advice has added SME-specialist wealth management and consulting group Stantins Financial Services to its adviser network.

AMP’s group executive of advice Matt Lawler said the business was “thrilled” to welcome Stantins to its licensee network as part of its goal of supporting “high quality financial advice firms across Australia”.

Stantins practice principal and founder Spiros Livadaras said its decision to join the AMP network was “driven by a desire” to improve the firm’s cross-selling capacity, differentiate the existing value proposition, and grow the business.

“We decided to align with a professional services partner who shares our broader vision, beyond the scope of financial planning alone,” Livadaras said.

The Melbourne-based Stantins boasts holistic, multi-disciplinary offering for small to medium businesses, start-ups and scale-ups. The firm specialises in financial advice, estate planning, wealth management, accounting, business and lending advisory services, as well as both residential and commercial lending services.

Joining the AMP Advice network will enable the Stantins to offer “innovative new financial solutions that better serve the evolving needs of our clients”, Livadaras said.

“In our commitment to continued growth, it was crucial to find a partner who not only understands the diverse financial needs of our clients, including lending solutions, but also supports our goals to enhance efficiency and effectiveness,” he added.

AMP sold its equity stake in its advice licensee business, consisting of 16 partner firms, to Entireti and AZ NGA in August this year.

AMP will retain a 30% stake in the new partnership venture business, promising its ongoing support to licensees in growing their businesses and improving efficiencies. The transaction is expected to be completed by end of 2024.

Once complete, Entireti will have a network of more than 1,300 financial advisers.

“Together with Entireti, we have the right scale and strength to deliver a high-quality professional service for practices like Stantins, helping them take advantage of the talent, expertise and experience offered by both organisations,” Lawler said.

He added: “We take the opportunity of working with advice practices who see us as the right partner to help them achieve their goals very seriously – whether it’s growth, profitability or the ability to operate autonomously while continuing to benefit from the advantages of being part of a larger advice community, our team is here to add value.”