AMP moves further on SMSFs
AMP has continued its push into the self-managed superannuation funds (SMSFs) market, last week announcing a new version of its Ascend SMSF service.
The company said the new version of Ascend would enable AMP-aligned planners to deliver a better customer experience at a lower cost to the customer as a result of improved technology and usability, through the fund's administration service and investment options.
It said the new service would be rolled out to SMSF accredited planners in AMP's aligned advice network in the second half of this year, starting with AMP Financial Planning and Hillross.
The company said the enhancements to the Ascend service included an improved online service, powered by Super IQ technology, better reporting, instant online access to fund information and the ability for planners to complete a new SMSF application in minutes rather than hours.
It said that, at the same time, administration and audit fees had been reduced and additional investment options added, including AMP's North platform and PortfolioCare, and the Australian Money Market term deposit platform.
Commenting on the improved offering, AMP SMSF managing director Paul Sainsbury said it was aimed at making it more competitive.
The original Ascend service launched in 2009 was only available to AMP Financial Planning and Hillross financial planners and advisers.
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