ABC's Inside Business program hosted by Alan Kohler this week has taken a look at the recent take over moves by AMP for AXA. This program was prepared in the context of the upcoming parliamentary report looking at the financial services industry in the wake of the Storm Financial collapse late last year.
Scott Keefer was interviewed for the program and shared his views on what the AMP - AXA combination means for the financial advice industry. To take a look at the program online please click on the link - AMP makes $12b AXA bid.
This page provides the transcript from the program along with the link to the video. Please note that the transcript contains some errors and you are better placed listening / watching the video.
In the program Scott suggests that the further consolidation of financial planning firms at the big end of town provides an even more stark point of comparison for investors looking for advice - the big end of town peddling their own products compared to the independent planners working hard at providing advice prepared with the individual in mind and not for the purpose of selling products.