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North reduces brokerage fees for clients as it broadens investment choice
Super and retirement
24 September 2021
  • 20 options added to MyNorth’s investment menu
  • MyNorth’s Managed Portfolios pass $3bn AUM

Fee reductions

The North wrap platform has today announced the reduction of minimum brokerage fee for listed securities for clients from $34 to $18.49[1], effective 18 September 2021.

The lower fee applies to all super, pension and IDPS clients across the MyNorth, North, Summit and iAccess platform products.

These latest fee savings are in addition to the reductions in administration fees across the North platform announced earlier this year, and further fee reductions announced for AMP’s superannuation members taking effect 1 October 2021.

Strengthening investment choice

The brokerage fee reductions also follow the recent addition of 20 options to the MyNorth investment menu, strengthening and expanding investment choice for clients and advisers.

Managed by industry-leading investment managers, the new funds and ETFs cover a range of asset classes and reflect the evolving investment needs of clients, including ESG, emerging markets, infrastructure, global equities, private equity, technology and multi-asset options.

North’s expanding managed portfolio range also continues to grow, last week passing $3 billion in assets under management, having launched in 2018.

AMP Australia Director of Platforms Edwina Maloney, said:

“These brokerage fee reductions provide valuable savings for North clients investing in listed securities on the platform.

“They follow reductions to administration fees on the platform earlier in the year, with the combined reductions demonstrating our commitment to ensuring North competes very strongly on price.

“The recent addition of 20 new investment options also signals a stronger focus on expanding investment choice on North and revitalising its investment menu with further additions to come this year.

“This includes the broadening of our managed portfolio offer, where our innovative offers, such as the MyNorth Sustainable and IndexPlus portfolios, are proving popular with clients and advisers.”

[1] Brokerage fees are inclusive of GST, less any reduced input tax credits (RITC)

New additions to MyNorth’s investment menu: