Equity Financial Planners, a financial planning practice in Australia, has won a class action against financial services firm AMP Financial Planners (AMPFP) following changes made by AMPFP to the valuation methodology under its “buyer of last resort” (BOLR) policy in 2019. The BOLR Policy formed part of the contractual relationship between AMPFP and each financial planning practice in its network.
RBB’s partner George Siolis provided oral testimony under cross examination before the Federal Court of Australia. The judgement was announced on 5 July.
George was instructed by Corrs Chambers Westgarth, acting for Equity Financial Planners. He was assisted by London partner Iestyn Williams and Lindsay Robinson in RBB’s Melbourne office.
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