LEADING WITH TRUST

Akumin chief executive Matt Lawler is steering AMP's adviser network through its split from the wealth giant and charting a new path forward.

- Riddhima Talwani writes.

Matt Lawler's love for financial advice began at the age of 15, when he put on a nice shirt and a tie to accompany his father, a corporate superannuation adviser, on the road during school holidays.

Lawler remembers walking into a factory as workers called out to his father across the floor, eager to catch up and talk about their super.

On one such visit, he noticed an older worker at the end of the factory line, looking visibly nervous.

"They went into an office and he was very worried. But I can remember he came out with a big smile on his face," Lawler says.

"I guess that cemented my passion for advice right then."

But it was not just the feeling of helping somebody, Lawler was equally drawn to the investment side.

He joined the industry when life insurance was evolving from a culture of sales and products towards the professionalism of regulated financial advice. This suited Lawler's values well.

Lawler began his career in corporate superannuation before becoming executive general manager at MLC and NAB Broker. He later led Yellow Brick Road and served as executive general manager at OneVue before joining Wealth Market as chief executive.

Across these roles, Lawler learned that trust can be a fragile commodity in the industry.

"Even though 99.9% of people can be doing the right thing, it's your weakest link that really does drive the reputation," he says.

He understood this well when he stepped into the role of managing director at AMP Advice in July 2021.

AMP was still facing backflash from the Royal Commission. Among other headwinds, its own advisers had filed a class action against the wealth giant for changing the conditions of its Buyer of Last Resort (BOLR) agreements, significantly reducing the price at which AMP would buy back advisers' client books if they exited the business.