AMP wants to 'industrialise' SMSF sector
AMP Financial Services chief executive Craig Meller has confirmed the company's acceleration into the self-managed superannuation fund (SMSF) sector, declaring AMP wants to "industrialise" the segment.
Discussing the company's strategy at a media briefing, Meller said that to date the Australian SMSF segment had emerged as something of a "cottage industry", which was now "ripe for industrialisation".
In doing so, he pointed to AMP's investment in Super IQ and the control of Multiport, which flowed from its acquisition of AXA Asia Pacific.
He said the SMSF arena represented an environment that was right for financial planners, and particularly for those planners prepared to move into relationships with accountants.
"The best planners are moving into relationships with accountants in terms of either buying into accountancy practices or obtaining a significant shareholding," Meller said.
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