AMP has announced  the completion of a strategic review of Genesys Wealth Advisers and an  intention to rationalise the business and offer Genesys firms a smooth  transition to other AMP licensees.

  This follows a  thorough review of the business to determine the sustainability of the Genesys  business model going forward.

  For Genesys  advisers wishing to stay with AMP, they will be offered a transition to another  AMP licensee and advisers will be able to choose the licensee which they think  best fits their business.

  Managing Director,  Genesys & ipac, Tim Steele said Genesys advisers wishing to stay with AMP  will be offered a choice to move to another AMP licensee.

 "Genesys has great  advisers and firms. AMP and Genesys share a mutual commitment to delivering  quality financial advice to customers and we believe many of these firms will  make the choice to stay with AMP.

 "Our priority now  is meeting with Genesys firms to discuss their options and support their  decisions.

 "AMP has a strong  value proposition for our financial advisers. Financial advice is at the heart  of our business, and we have the infrastructure and resources to help advisers  grow and develop their businesses, and give clients the benefit of high quality  financial advice backed by a large and trusted brand.

 "For firms who opt  to stay with AMP, our intention is to minimise disruption to their business,  for the benefit of both advisers and their clients," Mr Steele said.

  Genesys has more  than 200 advisers and 92 firms around Australia.

  The Genesys  leadership team will be meeting with member firm principals over the coming  weeks to discuss migration plans for those firms that decide to remain with the  AMP Group.

  AMP's financial  advice network has around 3,800 financial advisers in Australia and comprises  of AMP Financial Planning, Charter Financial Planning, Hillross, Horizons, ipac  and smsf advice.  Operating earnings of  the AMP Australian wealth management business are not expected to be materially  impacted by this change.

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