A stronger AMP eyes the self-managed pie

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Good luck on that strategy AMP. Companies like AMP are the exact reason why I and many others have changed to SMSF.

The four major banks ,Macquarie Group and SMSFs have been carting away AMPs business for years and its not about to stop.AMP shares traded in the high $20 range on listing .Subsequently the NAB made an ill advised takeover bid at either $21 or $22<reports varied>.The AMP board was even sillier than the NABs when it knocked back the offer.Subsequently resignations occurred.Since that occurred and despite an array of stock analysts periodically saying how cheap the AMP was its share price has continued on a steady downward trend.Sensible investors avoid it.

Most of us who set up SMSFs did so after seeing the excesses of traditional fund managers like AMP. We have quickly discovered that it is easy to achieve good returns (above industry average) with a much lower cost structure. If a mug like me can obtain a good return for my SMSF the well paid experts should be able to obtain excellent - at least 50& better- however experience has shown that they don't manage this.
To get me to move my SMSF management they would have to guarantee higher returns and no capital losses - can't imagine they can and will.