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AMP boss urges platforms to ditch ‘bad apples’ after $1b failure

Lucas Baird

AMP chief executive Alexis George says fast-growing superannuation platforms must shield customers from dodgy advisers and dubious products that jeopardise retirement savings.

The intervention from one of the country’s oldest wealth management firms comes as regulators investigate Macquarie and Equity Trustees’ role in the $1 billion collapse of the Shield Master Trust and First Guardian investment schemes, which were available on super platforms administered by the pair.

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Lucas Baird is a journalist based in The Australian Financial Review's Sydney office. Connect with Lucas on Twitter. Email Lucas at lucas.baird@afr.com

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    Original URL: https://www.afr.com/companies/financial-services/amp-boss-urges-platforms-to-ditch-bad-apples-after-1b-failure-20250718-p5mfxw