As part of our ongoing commitment to keep MyNorth® one of Australia's most competitive wrap offers, we're pleased to announce we've lowered a number of our administration fees effective 1 May 2021.
We’re committed to competing transparently. All advisers have access to the same platform pricing and no advice licensee or practice rate cards are applied.
Watch this video from Nicole Mahan to hear how existing and new clients can access the lower fees across MyNorth’s super, pension and investment products.
We’ll also be lowering North fees in the third quarter, or earlier if possible. Plus, we’re looking at how we can make Summit, iAccess and Generations more competitive. We will provide an update on Summit by the end of June and on Generations and iAccess in the fourth quarter.
MyNorth's lower administration fees effective 1 May 2021
|Lower Choice menu fees||Lower fee caps for clients||Lower fee caps for families|
|Choice admin fees are down by up to 22% for balances $250,000 & over. This can save a super client with $250K in this menu $200 in fees pa1.||MyNorth admin fees are capped at $2,400 per year for individual clients. This can save them $400 in fees per year.||MyNorth admin fees are capped at $3,300 per year for families. This can save families $500 in fees per year.|
Build cost-effective client portfolios
MyNorth offers flexible and competitive product solutions to manage your clients' evolving investment needs.
- Clients only pay for what they choose from our Core, Select and Choice investment menus.
- Clients can access lower administration fees as their total portfolio balance grows. The applicable rate applies to every dollar invested in the investment menu
- Clients can group with family members to benefit from family fee aggregation and caps. A group can have up to 6 members with up to 6 accounts each.
- Zero administration fee on Core menu this includes our cash account.
- Low account fee of $91 annually2.
- No additional administration fees
Start sharing the great news with these support tools
Client support tools
- How MyNorth fees work flyer
- Updates to the MyNorth Super and Pension Product Disclosure Statement (PDS) and MyNorth Investment Investor directed portfolio service (IDPS) guide
Adviser support tools
- Watch our short webinar (0.25 CPD points available)
- Pricing information flyer
- Frequently asked questions
- How to create and modify family fee groups
- Advice tools and product calculators
1 This is an example only. A client may pay less in fees if they benefit from individual and/or family administration fee caps.
2 The account fee is per account held and is waived on non-commutable allocated pensions (NCAPs) and accounts that commenced a guarantee prior to 28 November 2020.
What you need to know
The information on this page has been provided by NMMT Limited ABN 42 058 835 573, AFSL 234653 (NMMT). It’s for professional adviser use only and mustn’t be distributed to or made available to retail clients. It contains general advice only and doesn’t consider a person’s personal goals, financial situation or needs. A person should consider whether this information is appropriate for them before making any decisions. It’s important a person considers their circumstances and reads the relevant product disclosure statement and/or investor directed portfolio services guide, available from NMMT at northonline.com.au or by calling 1800 667 841, before deciding what’s right for them. You can read the AMP Financial Services Guide online for more information, including the fees and benefits that AMP companies and their representatives may receive in relation to products and services provided. You can also ask us for a hard copy.
MyNorth Super and Pension is issued by N.M. Superannuation Pty Limited ABN 31 008 428 322, AFSL 234654 (NM Super). MyNorth Investment is operated by NMMT. NMMT are part of the AMP group and can be contacted on 1800 667 841 or firstname.lastname@example.org. No company in the AMP group guarantees the performance of any fund or the return of an investor’s capital. MyNorth is a trademark registered of NMMT. This information is current as of May 2021.