AMP launches six PMPs on MyNorth platform
AMP has launched six new partnered managed portfolios (PMP) through its MyNorth wrap platform.
The MyNorth range, launched in 2018, now included 11 partnered managed portfolios with $2 billion in assets under management.
AMP said eight advice practices had launched the new PMPs including four which worked with Zenith and two with Mercer.
Nicole Mahan, AMP Australia’s director of wealth distribution, said the additions demonstrated AMP’s commitment to building out the platform’s investment choice.
“We’re competing strongly and transparently on price, while continuing to strengthen MyNorth’s technology and administrative capabilities,” she said.
“Advisers can expect more managed portfolios and innovative retirement solutions to be launched through the MyNorth platform in the coming months.”
Greg Major, general manager of Blueprint Wealth in Western Australia, one of the eight practices to launch the new PMPs, said: “The new managed portfolios provide our clients with access to high-quality funds, expertly managed by Zenith.
“Working with the MyNorth Managed Portfolios team to create the PMPs has also been a seamless and professional experience, from concept through to execution.”
AMP recently announced fee reductions across its MyNorth range.
Recommended for you
Sharing his reasoning in joining the FSC board, WT Financial chief executive, Keith Cullen, believes “product and advice cannot be separated” from each other in the current environment.
The Emerge Foundation, a charity run by financial advisers and fund managers, has announced a scholarship program to help veterans transition into tertiary education.
In an open letter, Sequoia chief executive Garry Crole has hit out against shareholders “with a personal axe to grind” as he fights for his job ahead of an EGM.
The JAWG has announced it is in talks with Treasury around five “core principles” to strengthen the education standards for new entrants to the financial advice space.