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Four Corners: Money for Nothing AMP
Money for Nothing AMP
ABC  |  July 23, 2018
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Money for Nothing: How corporate greed and deception cost AMP its trusted place in Australian life
AMP was once a trusted blue chip Australian company but its reputation is now in tatters following evidence before the Financial Services Royal Commission that it charged customers fees for no service and repeatedly lied about it to the corporate regulator.
On Monday Four Corners investigates how AMP ripped off its customers and details the extraordinary measures it took to conceal its actions.
In a revealing interview a former financial planner gives an insider’s account of the tactics used by AMP to cheat customers out of their own money.
The former planner also blows the whistle on the company practice of pressuring financial planners to sell in house AMP products even if it meant a client would be financially worse off.
AMP began selling life insurance in 1849. Four Corners examines how an iconic company with a trusted place in Australian life could have such a spectacular fall from grace.
“I would never have thought that any of that sort of thing would have been going on in such an institution that has been around for so many years and has been trusted by the shareholders and by the public at large.” AMP Shareholder

Money for Nothing: How corporate greed and deception cost AMP its trusted place in Australian life
AMP was once a trusted blue chip Australian company but its reputation is now in tatters following evidence before the Financial Services Royal Commission that it charged customers fees for no service and repeatedly lied about it to the corporate regulator.
On Monday Four Corners investigates how AMP ripped off its customers and details the extraordinary measures it took to conceal its actions.
In a revealing interview a former financial planner gives an insider’s account of the tactics used by AMP to cheat customers out of their own money.
The former planner also blows the whistle on the company practice of pressuring financial planners to sell in house AMP products even if it meant a client would be financially worse off.
AMP began selling life insurance in 1849. Four Corners examines how an iconic company with a trusted place in Australian life could have such a spectacular fall from grace.
“I would never have thought that any of that sort of thing would have been going on in such an institution that has been around for so many years and has been trusted by the shareholders and by the public at large.” AMP Shareholder

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