Australian financial services firm AMP has restructured its financial advice business to support and strengthen its network of over 3,000 aligned-advisers.

AMP in a statement said that the changes 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.

As part of the restructure, AMP Financial Planning, AMP Advice, AMP Horizons and AMP Direct will be integrated under a new managing director, Michael Paff.

The new team will consist of executive director advice Michael Guggenheimer, Dean Thomas as managing director of Hillross, Neil Swindells as managing director of Charter, Chris Digby as managing director of SMSF advice and Jigsaw, and Dave Akers will join as director of channel strategy and services.

Akers’ channel strategy and services unit will focus on simplifying processes for advisers while driving innovation, the company added.

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

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"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."