AMP SMSF acquires Supercorp’s YourSMSF
AMP has added 1,200 accounts to its self-managed superannuation fund (SMSF) business after acquiring Supercorp’s SMSF administration business YourSMSF.
The deal will see AMP SMSF wholly acquire Supercorp’s daily and annual administration business and take a 19.4 per cent stake in Supercorps’ software solution Supermate.
AMP’s Multiport SMSF administration business currently uses Supermate as part of its platform.
Of the acquisition, AMP SMSF managing director Paul Sainsbury said it reflected the business’ focus on growth and improving the customer experience.
“Technology is a key enabler in this market so we are also pleased to be investing in Supercorp’s software solution, Supermate, and we look forward to working closely with them on future technology developments,” he said.
AMP is in the process of contacting Supercorp’s YourSMSF customers about the acquisition and ensuring that they are not disrupted by the change.
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