AMP has today announced the completion of a deal for its advice business that was first flagged in August.

As part of the change, it will create a partnership and ownership structure for the business with Entireti and AZ Next Generation Advisory.

Entireti has acquired AMP’s advice licensees and Jigsaw for $10 million, with AMP to retain a 30% stake. AZ NGA has acquired AMP’s minority stake in 16 advice practices for $82.5 million.

“The successful completion of the AMP advice transaction and smooth transition to Entireti and AZ NGA ensures the advice network is well placed to grow and prosper,” AMP CEO Alexis George said.