An AMP spokesperson has confirmed that Stuart Abley has decided to leave AMP. Mr Abley is the former head of SMSF Advice and led the SMSF Advice business for the past four years.

*ORIGINAL STORY*

Chris Digby has been confirmed as managing director of SMSF Advice and Jigsaw, AMP announced this morning.

Mr Digby has previously held several management positions with Hillross and AMP Financial Planning.

The news follows reports from sister title ifa and SMSF Adviser of high-level departures from the AMP subsidiary.

The changes to SMSF Advice are part of a broader raft of operational changes to AMP’s financial advice network.

AMP announced a new operating structure which will see the establishment of a “dedicated governance function and independent boards for each licensee to help ensure a consistently high standard of advice across the network”.

AMP Financial Planning, AMP Advice, AMP Horizons and AMP Direct will come together as an integrated unit under the leadership of newly-appointed managing director, Michael Paff.

In addition, a new Channel Strategy and Services team will focus on simplifying processes for advisers while driving innovation.

Michael Guggenheimer has been appointed executive director advice and is tasked with establishing the licensee boards and “continuing AMP’s focus on quality governance,” AMP said.

Hillross will be led by newly-appointed managing director, Dean Thomas, while Neil Swindells has been appointed managing director of Charter.

“Our aligned advice network, the largest in Australia, helps customers across the country take control of their finances and achieve their goals,” AMP group executive – advice and New Zealand, Jack Regan, said.

“We are proud of the difference our financial advisers make to the lives of their customers and recognise the value of our Hillross, Charter, Jigsaw, SMSF Advice, AMP Financial Planning and AMP Advice businesses. Our simplified and enhanced operating structure will better support and grow this network,” Mr Regan said.

“We’re excited for the future of our advice business and the changes we’ve announced today position us to continue our growth and support our advisers to make a positive difference to the lives of many Australians.”