wealth manager: Australia's largest wealth manager is accelerating its remediation program for customers charged fees for no service or given inappropriate advice, wanting the compensation paid out within three years, according to Nine News Australia. Acting CEO Mike Wilkins argued a small number of individuals in AMP's advice business decided not to follow policy and inappropriately charged fees to customers where no service was provided. To improve your experience update it here News NationalAMP blames 'bad apples' for fees problem6 32pm Nov 28, 2018Facebook Tweet MailAMP is blaming a few bad apples for its almost unimaginable fees-for-no-service problems that are now expected to cost almost 800 million to fix. Banking royal commissioner Kenneth Hayne QC asked if he meant there were a few bad apples, and Mr Wilkins agreed. Those policies were not followed and there have been subsequent consequences for those people who didn't follow that policy, he said on Wednesday. Mr Wilkins said policies were in place for when fees were to be turned off.
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