AMP ups ante on managed accounts
AMP Limited has revealed a part of new commercial strategy, announcing a larger presence in the managed accounts space utilising its MyNorth platform.
The company announced it had moved to strengthen its MyNorth Managed Portfolio proposition by adding investment managers Zenith Investment Partners and Quilla Consulting to the managed portfolio range, launching a new Partnered Managed Portfolio offer and releasing a new industry whitepaper with the Institute of Managed Accounts Professionals.
AMP’s managing director of wealth products and platforms, Rod Finch said it represented a strengthening of the MyNorth Managed Portfolio proposition.
“Zenith Investment Partners and Quilla Consulting offer high-quality, in-demand portfolios that represent great value for clients, while our partnership with leading advice business, the Weinberg Private Group, has launched our Partnered Managed Portfolios offer,” he said.
“Shifting adviser business models and increased demand for managed portfolios are providing great opportunities for more advice practices to develop investment portfolios specific to the needs of their clients.
“Our new whitepaper – A Guide to Managed Portfolios – which we’ve produced in partnership with Toby Potter and the IMAP team, will also be a valuable resource for any adviser looking to take advantage of the many benefits of managed portfolios,” Finch said.
AMP pointed out that today’s announcement followed on from fee reductions announced earlier in the year, which is said were are benefiting more than 87,000 new and existing MyNorth clients and families.
Recommended for you
AZ NGA has entered into a strategic partnership with national advice firm MiQ Private Wealth, as a way to provide a succession solution, as well as career development opportunities for staff.
While the advice profession struggles under growing operating costs, Adviser Ratings has found more than half of practices – some 58 per cent – that generate less than $250,000 in revenue report no profit at all.
The Federal Court has ordered the freezing of assets and the appointment of receivers to two entities linked to Australian Fiduciaries, ASIC’s latest move in an ongoing investigation into the company’s managed investment schemes.
Off the back of the August adviser exam results, the profession has seen 17 new entrants hit the Financial Adviser Register (FAR) this week, helping numbers return to positive territory.
