AMP North targeting retirement needs with managed accounts expansion

AMP’s advice platform has announced three new additions to its managed account menu, marking back-to-back months of investment solution enhancements.

With this latest round of additions, BondAdviser, MST Income and Elston Income managed portfolio series will now be available to advisers on the North platform, providing greater flexibility and choice when constructing tailored managed portfolio solutions.

According to AMP, clients seeking income protection, certainty and fixed income in particular will benefit from this rollout.

“The portfolios aim to provide retirees with more options to generate steady income and preserve their capital, while also limiting downside risk in the face of volatile markets,” the firm said.

MST Income is a division of MST Financial specialising in tailored income solutions for wealth managers and institutional investors. The MST Fixed Income Portfolio provides exposure to hybrid securities, delivering the benefits of defensive assets to clients in the retirement phase without sacrificing income.

Designed specifically for retirees and income-seeking investors, the Elston Income Series generates higher income paid out more frequently than traditional portfolios to address cash flow challenges.

The BondAdviser Fixed-Income Portfolio focuses on fixed-income and is “uniquely placed” to maximise the opportunities as demand for alternatives continues to grow among advisers and clients alike.

North’s buy menu now hosts more than 165 managed portfolios across 27 managed and is supported by around 400 build portfolios across almost every consultant in the market. As of 31 March, the platform has $19.7 billion in funds under management (FUM).

Speaking on the announcement, AMP group executive - platforms, Edwina Maloney, said expanding the platform’s investment offerings is an essential part of the firm’s efforts to support advisers in meeting client needs. 

“This flexibility not only supports better client outcomes, but also gives advisers the freedom and confidence to adapt as markets and client circumstances change.

“North’s open architecture is all about putting choice, transparency and control in the hands of advisers, so they can deliver the best possible advice every time.”

AMP general manager of managed portfolios and investments, David Hutchison, said they will continue to work with leading managers, expanding their investment menu to meet the demands of Australians.

“We’re passionate about empowering and enabling advisers with access to choice and flexibility through North, thanks to our longstanding partnerships with world-class investment managers.

“That’s why we’re excited to be teaming up again with MST Financial for their fixed income series, providing our advisers with optionality and confidence when it comes to retirement income solutions for their clients.”

This expansion comes just a few weeks after North launched a partnership with BlackRock and Lonsec Investment Solutions (LIS) to enhance the platform’s model portfolio offering and deliver “market-first” investment capabilities to smaller practices.

Working in collaboration with the two fund managers, North unveiled new “Blend” capabilities for its model portfolios aiming to bridge the gap between off-the-shelf and fully tailored solutions, allowing advice practices of all sizes to take advantage of personalised modelling capabilities without sacrificing efficiency.