~ North continues to expand its managed account menu with additional fixed income and income-focused portfolios for retirees, providing advisers with greater flexibility, certainty and choice
~ Follows the launch of ‘North Blend’ in partnership with BlackRock and Lonsec Investment Solutions last month
~ FUM in North managed portfolios has grown from $2 billion to over $20 billion in just four years
AMP is pleased to announce the expansion of North’s managed account menu with three exciting new additions for the June quarter.
The additions of BondAdviser, MST Income and Elston Income managed portfolio series to North provides advisers with greater flexibility and choice when it comes to creating tailored managed portfolio solutions – particularly for clients seeking income protection, certainty and fixed income in retirement.
The portfolios aim to provide retirees with more options to generate steady income and preserve their capital, while also limiting downside risk in the face of volatile markets.
The announcement follows the launch of practice level customisation last month thanks to North’s partnership with BlackRock and Lonsec Investment Solutions, with North continuing to evolve its model portfolio offering and the breadth of its investment menu to meet the changing needs of advice practices large and small.
Along with its market-leading MyNorth Lifetime solution, managed accounts have been central to North attracting many new advisers, with funds under management growing from $2 billion to now over $20 billion in just four years.
Announced today, the new Buy menu additions brings the number of managed portfolios on North to over 165 across 27 managers, supported by almost 400 Build portfolios across almost every consultant in the market.
Retirement made easy for income-seeking investors
Founded in 2017, MST Income is a dedicated division within MST Financial, specialising in tailored income solutions for wealth managers and institutional investors. Offering exposure to hybrid securities, the MST Fixed Income Portfolio targets clients who are in the retirement phase. It provides exposure to a defensive asset class while still delivering high income and will help clients manage the phased transition from hybrids.
With its income-focused design, the Elston Income Series is specifically developed for retirees and income-seeking investors. This portfolio generates higher income paid out more frequently than traditional portfolios, providing better cash flow matching to meet regular income needs. It combines income generation with the preservation of future income capacity, maintaining the ability to balance higher income with long-term capital growth.
Employee-owned fixed income and credit provider BondAdviser has over 10 years of experience in managing fixed-income portfolios, building their strategies on rich data points, algorithms, and qualitative analysis. The BondAdviser Fixed-Income Portfolio is a unique addition to the platform, offering a new value proposition by bringing fixed-income exposure to clients.
This portfolio is focused on fixed-income assets and is uniquely placed to capitalise on the growing demand for alternatives among both advisers and their clients on-platform.
Edwina Maloney, AMP Group Executive, Platforms said:
“Our mission is to be the home for retirement income solutions in Australia and that means ensuring advisers are well supported with efficient, market-leading tech and solutions to help their clients prepare for and thrive in retirement.
“We’re delivering that in several ways: one is through innovation and the fantastic retirement solutions we have on offer - such as MyNorth Lifetime Super.
"We're also continuing to expand our investment menu to meet the changing needs of practices today, working with the industry’s leading investment managers to provide advisers and their clients with access to high quality products both in and near retirement.
“The beauty about our platform and solution is North’s open architecture. By giving advisers access to a broad and diverse range of investment options, we’re empowering them to tailor strategies that truly suit their clients’ individual needs and goals.
“This flexibility not only supports better client outcomes, but also gives advisers the freedom and confidence to adapt as markets and client circumstances change. North’s open architecture is all about putting choice, transparency and control in the hands of advisers, so they can deliver the best possible advice every time.”
David Hutchison, AMP’s General Manager of Managed Portfolios and Investments said:
“We’re passionate about empowering and enabling advisers with access to choice and flexibility through North, thanks to our long-standing partnerships with world class investment managers.
“That’s why we’re excited to be teaming up again with MST Financial for their Fixed Income series, providing our advisers with optionality and confidence when it comes to retirement income solutions for their clients. The addition of the MST Income, Elston Income and BondAdviser series highlights our commitment to growing the breadth of our offer.
“We have the fastest growing offer in the market and we’ll continue to focus on expanding the breadth of our menu, helping ensure North is the easiest platform for advisers to do business with.”