In a further indication of AMP’s focus on the self-managed superannuation (SMSF) sector, the financial services giant has recruited a leading SMSF technical expert.
AMP has announced that former SMSF Professionals’ Association national technical director Peter Burgess will join the company’s SMSF business unit and will be responsible for "interpreting SMSF legislation to inform the development of SMSF advice strategies and technical support materials for AMP’s aligned planner network," according to a statement.
AMP's SMSF managing director Paul Sainsbury said the move reflects AMP's ambitions in the SMSF sector.
“I am delighted to have Peter on board. He has a strong reputation in the industry, and among trustees, as an authority on SMSF policy and technical support," he said.
“We’re looking forward to Peter helping us build our SMSF advice policy and technical capabilities and supporting our aligned planners to provide SMSF advice."
AMP chief executive Craig Dunn recently made comments to ifa about the strategic importance he places on the sector.
"SMSFs is the largest and fastest growing sector in the market and that makes it attractive to us," he said.
"We intend to continue to dominate market share."
Commenting on the appointment, SPAA CEO Andrea Slattery said that while her organisation is sad about Burgess's departure, the recruitment is a "feather in SPAA's cap".
"It is a testament to SPAA that an organisation of the reputation of AMP has appointed Peter to such a significant position in their company, and we look forward to continuing our relationship with Peter through involvement on our regulatory committee and industry leading SMSF national conference," she said.
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