The news comes on the back of MyNorth’s managed portfolio range passing $2 billion in assets under management this week, with the group now having 11 PMPs on board since launching in 2018.
AMP said eight advice practices had recently launched PMPs, with four of those having Zenith as investment manager and two by Mercer.
“Following on from our recently announced platform fee reductions, which make MyNorth one of the most competitive in the market, the new portfolios demonstrate AMP’s commitment to building the platform’s investment choice and our managed portfolio range,” AMP Australia’s director of wealth distribution Nicole Mahan said.
“We are committed to making MyNorth the platform of choice for all advisers and their clients.
“We’re competing strongly and transparently on price, while continuing to strengthen MyNorth’s technology and administrative capabilities.
“Advisers can expect more managed portfolios and innovative retirement solutions to be launched through the MyNorth platform in the coming months.”
Blueprint Wealth is one of the advice practices that have launched a new PMP, which general manager Greg Major said “provide our clients with access to high-quality funds”.
“The portfolios are exceptionally good value, and delivered through MyNorth, which we regard as the pre-eminent wrap in the market,” Mr Major said.
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