North delivers for AMP
AMP Limited’s acquisition of AXA Asia Pacific and its North wrap platform is continuing to pay dividends with the company announcing that it had reached $10 billion in Funds Under Advice (FUA).
At the same time, AMP announced it had completed the migration of Summit, Generations and iAccess customers onto North Online, in what it regarded as one of the biggest consolidations in the recent history of the platform industry.
It said this had involved 131,000 customers and more than $14 billion in FUM moving onto North.
AMP director of superannuation Patricia Montague said North’s strong growth was driven by investment in the platform’s features increasing its appeal to customers.
Montague said the migration of the Summit, Generations and iAccess customers from older platform technology onto North Online would allow them to benefit from North’s technology, increasing the speed of transactions and providing more up-to-date information to advisers and customers.
Recommended for you
In this week’s episode of Relative Return Insider, hosts Maja Garaca Djurdjevic and Keith Ford discuss a busy week of announcements from ASIC, with submissions to its public and private markets paper made (mostly) public.
In this week’s episode of Relative Return Insider, AMP chief economist Shane Oliver joins the show to unpack Australia’s underwhelming March quarter GDP figures and what they signal for the Reserve Bank’s next move.
The latest episode of Relative Return sees host Laura Dew chat with Brian Jones, founder of outsourcing company VA Platinum, on why choosing to outsource certain functions of your business can enable you to be efficient and productive.
In this episode of Relative Return Insider, hosts Maja Garaca Djurdjevic and Keith Ford are joined by Money Management editor Laura Dew to discuss learnings from JP Morgan’s recent conference in London, and what top fund managers and analysts see driving market behaviour.
