AMP has today announced the launch of six new partnered managed portfolios (PMPs) with different advice practices, delivered through its flagship MyNorth wrap platform.
The new offers come as MyNorth’s growing managed portfolio range this week passed $2 billion in assets under management. The range, which launched in 2018, now includes a total of 11 PMPs, together with the first values-based sustainable managed portfolios in the market, and a portfolio series which combines index and active management.
These new PMPs reflect AMP’s deep knowledge of financial advice and ability to work collaboratively with advisers and investment managers to create wrap offers which clients value.
Eight advice practices have launched PMPs as part of today’s announcement, representing six distinct investment offers. Four of those have Zenith as the investment manager, and two are managed by Mercer.
The new offers further broaden MyNorth’s investment choice and follow the recently announced fee reductions across the North platforms.
Nicole Mahan, AMP Australia’s Director of Wealth Distribution, said that AMP was pleased to be partnering with leading advice practices and investment managers to create high-quality, tailored wealth solutions.
“Following on from our recently announced platform fee reductions, which make MyNorth one of the most competitive in the market, the new portfolios demonstrate AMP’s commitment to building the platform’s investment choice and our managed portfolio range.
“We are committed to making MyNorth the platform of choice for all advisers and their clients.
“We’re competing strongly and transparently on price, while continuing to strengthen MyNorth’s technology and administrative capabilities.
“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, one of the eight advice practices to launch a new PMP, commented on the benefits for their clients and practice.
“The new managed portfolios provide our clients with access to high-quality funds, expertly managed by Zenith.
“The portfolios are exceptionally good value, and delivered through MyNorth, which we regard as the pre-eminent wrap in the market.
“MyNorth is highly competitive on price and provides the administrative functionality which allows us to support our clients and provide them with clear oversight of their investments.
“Working with the MyNorth Managed Portfolios team to create the PMPs has also been a seamless and professional experience, from concept through to execution.”
Blueprint Wealth is a leading Western Australian financial and wealth advisory practice, helping clients realise their financial potential since 2001. Its goal is to enable clients to retire in comfort with the financial resources to achieve their lifestyle goals. More information is available here.