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
Financial advisers and wealth managers need to exceed their clients’ desires for personalisation, a new EY report writes, and the requirements for this will vary between client segments.
Betashares chief executive, Alex Vynokur, believes technology advancements will enable banks to return to financial advice in the future as the need for advice is greater than ever.
Centrepoint Alliance has upgraded its expected financial results for FY24, thanks to strong adviser recruitment and the acquisition of Queensland advice firm Financial Advice Matters.
The corporate regulator has permanently banned a Melbourne-based financial adviser that “dishonestly attempted to induce clients to transfer their superannuation into a bank account he controlled”.