AMP further commits to SMSF space
AMP has made a full-on commitment in the self-managed superannuation funds (SMSF) administration space, today announcing it has increased its ownership of SuperIQ from 51 per cent to 100 per cent.
At the same time as confirming its 100 per cent ownership of SuperIQ, AMP said it had also increased its stake in administration technology provider, SuperCorp, from 20 per cent to 100 per cent.
The announcement said the SuperIQ transaction represented an important driver for AMP in creating a seamless and best-in-market customer experience for SMSF administration.
It said the purchase of SuperCorp would allow AMP to develop a market-leading end-to-end service for customers, including a software-only option for administration.
The announcement said both transactions were consistent with AMP's strategy to build market share and efficiency in scale, allowing for the delivery of lower cost services and better offers for customers.
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