Shaune Egan

John Keating

AMP has appointed John Keating and Shaune Egan to key leadership roles in its Wealth Solutions and Customer team.

Mr Keating, previously AMP’s Head of Platform Products, has commenced as Head of Wealth Distribution, Southern Region. Reporting to Nicole Mahan, AMP’s Director of Wealth Distribution, Mr Keating’s focus is to support AMP aligned and non-aligned advisers across Victoria, Tasmania, South Australia and Western Australia in providing solutions and insights to their customers.

“In leading AMP’s platform business and driving the considerable growth of AMP’s North platform in recent years, John understands what advisers’ value and require to support their customers in achieving their financial goals,” commented Ms Mahan.

Mr Egan will commence at AMP as Head of Platform Development on 19 November 2018, reporting to Rod Finch, AMP’s Director, Superannuation, Retirement and Investments. He joins AMP from MLC, where he led the wrap platform and managed account business.

Mr Finch said “Shaune is a highly experienced financial services executive, with extensive knowledge of the wrap platform market and wealth product management”.

“Shaune will continue to strengthen the capabilities of our award-winning North platform, working closely with advisers and customers to ensure it provides access to high-quality investment products and efficient administrative functionality,” said Mr Finch.

AMP’s North platform has grown from A$16 billion in assets under management at 31 December 2014 to more than A$39 billion at 30 September 2018.

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AMP has launched MyNorth Managed Portfolios.

AMP has launched MyNorth Managed Portfolios, available across its MyNorth, North, Summit and iAccess super, pension and investment platforms and products.

The 12 separately managed portfolios add to the wide range of investment options available on the North platform, providing even greater choice for advisers and their clients.

The new portfolios are constructed and managed by the AMP Research team, providing advisers and their clients access to a diversified range of managed funds designed to meet specified investment objectives. The portfolios cover three investment categories – accumulation, income and objective-based.

John Keating, AMP’s Head of Platform Development, said the new portfolios reflect the company’s commitment to providing advisers and their clients with investment choice, delivered through a seamless and efficient experience.

“The simplicity and ease through which the portfolios are accessed and administered will allow advisers to spend more time with clients,” said Mr Keating.

Clients benefit from professional investment management, the ability to track the performance of underlying assets on North Online and, importantly, the client owns each of the individual assets in the chosen managed portfolio.

The portfolios incorporate AMP’s recently extended range of Advantage Funds, which provide quality wholesale funds at a lower ongoing management fee than their wholesale equivalent.  Since launching the expanded range in January, Advantage Funds have grown by a further A$32 million, bringing total funds under management to A$312m.

Further platform enhancements

In addition to MyNorth Managed Portfolios, AMP is today launching a new adviser reporting tool and enhanced model management functionality available across MyNorth, North, Summit and iAccess super, pension and investment platforms and products.

Models are now easier to configure and manage, and can be segregated and valued separately from other holdings within a client’s account. Reporting on model holdings and performance coupled with improvements to North Online system performance will contribute to greater practice efficiency.

The new reporting tool has an intuitive design allowing advisers to generate, customise, and download reports more efficiently. Improved browser and device compatibility have also been introduced, including new screens and reports.

Later in 2018, AMP will expand its managed portfolio range to include direct access to equity investments.

AMP’s market-leading North platforms received net cashflows of A$5.7 billion in 2017, having now grown to approximately A$35 billion in assets under management.

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