AMP’s North introduces asset exclusion capability

Mike Taylor

Managing Editor/Publisher, Financial Newswire

13 September 2024

AMP’s North Platform has introduced the ability for financial advisers to nominate assets they do not want held in a client’s managed portfolio.

AMP announced the solution as part of a range of customised options to managed portfolios at the same time as announcing that it had appointed Mercer as its Investment Manager for the APS CoreSeries Managed Portfolio range, replacing Morgan Stanley.

It said the appointment of Mercer would mean lower investment manager fees, translating into direct cost savings for clients estimated around at least 0.08% a year.

Announcing the changes, AMP said the new functionality meant advisers could create more bespoke solutions by tailoring their client’s managed portfolio to individual preferences and goals.

It said that the new feature meant North’s investment menu could now serve a larger number of clients who want to benefit from managed portfolios but have been limited by their individual circumstances.

Commenting on the changes, AMP Group Executive, Platforms, Edwina Maloney made clear the objective was to attract more independent financial advisers.

“We recognise that advice practices with smaller balances have not traditionally been able to access bespoke managed portfolio solutions and we wanted to solve for this under-served segment of the market,” she said.

“Advisers are increasingly demanding resources that can help them deliver managed account solutions in a cost-effective and bespoke way to more clients.

“By investing in innovative platform functionality and flexibility, we’re helping deliver portfolio customisation at scale, empowering more advisers with our market-leading managed portfolio solutions and an exceptional platform that’s easy to use,” Maloney said.