AMP has teamed up with life insurance specialists AIA Australia and TAL to expand its wrap platform insurance.
Under the new partnership, both insurance offers are now available for advisers and super and pension clients of MyNorth, North, Summit, ipac iAccess, and Generations, providing them more choices.
“Adding these high-quality insurers to our platform increases choice for advisers and clients, further strengthening AMP’s wrap platform offer,” said Lara Bourguignon, AMP’s managing director superannuation for retirement and platforms. “The changes follow a year of significant investment and enhancements to our flagship MyNorth platform, including fee reductions, new managed portfolio offers, and a range of technology and administrative upgrades. With more external financial advisers and their clients adopting MyNorth, we’ll continue investment and enhancements in 2020, including further building MyNorth’s managed portfolio capability.”
North posted a 25% increase in net cash inflows during the September 2019 quarter compared to September 2018, including a $300 million increase in inflows from external financial advisers.