In an announcement, AMP SMSF said following the acquisition, Justsuper will continue to operate under its own brand name and with its existing team of employees.
There will be no disruption to Justsuper’s clients, AMP SMSF stated.
“We’re excited to announce the acquisition of Justsuper as we continue to grow our SMSF operation. It places the business in a strong position for future growth and further cements our leading position in the SMSF administration market,” said AMP SMSF’s managing director, Natasha Fenech.
Stephen Doulgeridis, chief executive of Justsuper, will sit on the AMP SMSF leadership team and report to Ms Fenech.
“This is great news for Justsuper and its clients. We will continue to operate in the same way we always have. Clients will now benefit from a broader range of market leading SMSF administration platforms as well as having access to AMP SMSF’s team of highly regarded technical experts,” Mr Doulgeridis said.
Roger T is on the money.
In the first year after the purchase of Super Concepts the process changed that was less efficient which makes it more costly to use them.
” ……… continue to operate in the same way as we always have.” For now that is! SMSF isn’t core for AMP and already they are looking for “efficiencies” in the SMSF businesses they’ve currently bought. They will make changes to every business they bought as you would expect but you will have to ask where BID will sit for advisers and clients in the changes they will make.
AMP already owns three of arguably the best SMSF administration services around which includes arguably the best SMSF technical advice capability in the market.
You must applaud their strategy but for the independent adviser you have to ask once they have bought enough market share they will then have a lot of influence on future service, support and pricing in the SMSF space. Mmmmm.