AMP hits $25 billion in FUM
Only 10 months after its launch, AMP's flagship wrap program, MyNorth is reaching $4.4 billion in funds under management (FUM), part of a total of $25 billion in FUM collectively with wrap product, North.
AMP director of superannuation, Patricia Montague, said sophisticated user experience interface and competitive pricing were the catalysts for the fast success of MyNorth.
"MyNorth caters to customers with a broad range of investment needs… our focus remains on how our platforms support adviser efficiency," she said.
"[It's] offering them more flexibility and control so they can continue to implement the strategies they choose, whatever their advice model."
Montague said improved account reporting and tablet compatibility had also helped boost the popularity of the wrap product, which could cater for complex portfolios as well as basic requirements.
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