AMP expands MyNorth insurance offer

AMP has partnered with AIA Australia and TAL to expand its wrap platform insurance offer, with both being available for advisers, and super and pension clients of MyNorth, North, Summit, ipac, iAccess and Generations.

Lara Bourguignon, AMP managing director for superannuation, retirement and platforms said, adding those insurers to the platform increased choice for advisers and clients, further strengthening AMP’s wrap platform offer.

“The changes follow a year of significant investment and enhancements to our flagship MyNorth platform, including fee reductions, new managed portfolio offers and a range of technology and administrative upgrades,” Bourguignon said.

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“With more external financial advisers and their clients adopting MyNorth, we’ll continue investment and enhancements in 2020, including further building MyNorth’s managed portfolio capability.”

Net cash inflows to North increased by 25% during the Q3 2019, compared to Q3 2018, including a $300 million increase in inflows from external financial advisers.

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