AMP transfers multi-asset into Australian wealth management
AMP has completed the transfer of its multi-asset group into Australian wealth management.
This would create AMP Investments, an end-to-end superannuation and investment platform. This included AMP’s flagship Signature Super, MySuper and choice superannuation platforms.
Led by chief investment officer, Anna Shelley, there would be $84.7 billion in assets under management and close to one million superannuation members.
Scott Hartley, chief executive of AMP Australian Wealth Management, said it was an important milestone in AMP’s transformation.
“Anna Shelley is a highly-regarded chief investment officer and has assembled an outstanding investment team, a mix of former AMP Capital Multi-Asset group, including AMP’s chief economist Shane Oliver, and outside talent.
“The team has strong capability across all asset classes, including responsible investment, which will be an increasing focus as more and more Australians seek to align their investments with their values.
“Working closely with the Trustee, AMP’s business now has end-to-end oversight and accountability for investment management, including investment strategy, investment performance and ensuring member fees are competitively low.”
AUTHOR
Laura Dew
Recommended for you
With Finchley & Kent coming in second place for adviser growth in 2024, its managing director shares why word-of-mouth referrals have been critical to its success.
The platform market is more likely to grow than consolidate in the upcoming years, according to platform expert Recep Peker, as the adviser cohort becomes a valuable target market.
Advice veteran Paul Harding-Davis is to step down from Brisbane licensee AdviceIQ Partners after eight years, and the business has appointed a new general manager.
Insignia Financial has looked internally to appoint its chief technology officer, completing the executive team announced to implement its new operating model last July.
