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.

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