AMP launches first SMA for planners
AMP Financial Planning has launched its first separately managed account (SMA) for its financial planners, incorporated into a “wrap-like platform”.
The AMP Personalised Portfolio offers investors a combination of model share portfolios, managed funds and individual shares customised to their requirements, according to product manufacturing director Paul Sainsbury.
It enables investors to access direct shares through a professionally managed model share portfolio, manage their own share portfolio, or invest in wholesale-managed funds across the major asset sectors, he said.
More than 25 model portfolios, primarily covering the Australian shares asset sector, are offered on the SMA, as are more than 60 managed funds across the other major asset classes.
Targeted at investors with a minimum of $100,000 to invest, the SMA also offers investors “significant opportunities for tax effectiveness”, Sainsbury said.
“They do not inherit embedded capital gains when investing, as can be the case with managed funds, and as the beneficial owner, the investor receives dividends and franking credits as they are earned and losses can be utilised as they are incurred,” he said.
Recommended for you
A relevant provider has received a written direction from the Financial Services and Credit Panel after a superannuation rollover resulted in tax bill of over $200,000 for a client.
Estimates for the calendar year 2024 put the advice industry on track for a loss in adviser numbers as exits offset gains from new entrants.
Adviser Ratings shares five ways that financial advice changed in 2024 with an optimistic outlook for 2025, thanks to the Delivering Better Financial Outcomes legislation.
National advice firm Invest Blue has announced several acquisitions, including the purchase of an estate planning and wealth protection business Lambert Group.
