AMP offers SMA platform to retail investors

retail investors amp financial services financial planning practices

22 April 2008
| By George Liondis |

AMP has launched a customised separately-managed account (SMA) service for one of its subsidiaries that it contends will open up the SMA market to retail investors.

The Personalised Portfolio service has been developed for Hillross Financial Services, which has a network of more than 100 financial planning practices across Australia, and is designed to afford clients easier and more efficient exposure to direct equities.

AMP Financial Services managing director Craig Mellor said the new service opens up the SMA market to a broader range of investors.

“SMA services in Australia have traditionally targeted very high-net-worth individuals. The Personalised Portfolio service will make SMAs more accessible to retail investors.

“The service offers a wide range of direct equity models and managed funds on a holistic platform across the major asset sectors. Investors will have access to professional management of their equity portfolio while benefiting from direct equity ownership.”

The service will initially offer a choice of 20 equity models and 60 supporting managed funds. According to AMP, other key features include a dedicated administration function, a competitive structure and a function enabling investors to view their investments online.

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