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Amp

www.amp.com.au link_icon

Company Research Report: AMP Limited



Company Overview


AMP Limited is a leading financial services company in Australia and New Zealand, offering a wide range of services including banking, superannuation, retirement, and investment advice.

Mission of the Company


To assist customers in managing their investments and achieving their financial goals.

Founding


  • Year Founded: Over 170 years ago.

  • Founders: No information is available.


Key People


No information is available.

Headquarters


  • Location: Sydney, NSW, Australia


Number of Employees


  • Approximately: 3,000 employees


Revenue


No information is available.

Known For


AMP Limited is known for providing comprehensive financial services including banking, retirement planning, superannuation, and investment advice. It also has an award-winning technology platform, North.

Products


Banking Products


  • Everyday Accounts: Flexible accounts with competitive interest rates and no monthly fees.

  • Savings Accounts: Accounts designed to help customers achieve their financial goals faster.

  • Home Loans: Various mortgage solutions to suit different needs with competitive interest rates.

  • Term Deposits: Multi-award-winning term deposits offering high interest rates with flexible terms.


Superannuation and Retirement


  • Superannuation Products: AMP offers a range of superannuation products including AMP MySuper and AMP SignatureSuper, designed to help customers save for retirement.

  • Retirement Products: Solutions tailored to individuals nearing retirement, including investment and pension options.


Investments


  • Investment Accounts: Various options for investors to grow their wealth, including managed portfolios and funds.

  • SMSF Accounts: Specialized Self-Managed Super Fund accounts designed to provide the flexibility needed for personal control over superannuation.


Key Features


  • North Platform: Provides financial advisers with tools to meet clients' super, pension, and investment needs.

  • AMP MySuper: Noted for its competitive returns, averaging 11.2% for the 2023-24 financial year for certain options.

  • Customisation Options: Recently expanded customisation options for managed portfolios, giving financial advisers and their clients more control over their assets.


Recent Developments


New Products and Features


  • Expansion of North's Customisation Options (13 September 2024): North now offers more customisation options for managed portfolios, enhancing the flexibility over asset management for advisers and their clients.

  • New National Advertising Campaign (26 August 2024): A campaign launched to engage Australians more with their superannuation, fostering a more dynamic interaction between super funds and their members.


Partnerships


  • Partnership with Striver (19 September 2024): AMP Advice has teamed up with Striver to welcome the next generation of financial advisers.


Compliance and Performance


  • Annual Performance Test (30 August 2024): AMP's MySuper products passed the Annual Performance Test, reflecting strong investment returns and competitive fee structures.


Summary


AMP Limited is a prominent player in the financial services industry, with a rich history and a focus on providing customer-oriented financial solutions. With a strong emphasis on technology and innovation through platforms like North, AMP continues to expand and improve its product offerings to meet the evolving needs of its customers. Its recent developments highlight a commitment to flexibility, customisation, and competitive performance in the financial services sector.

Conclusion


AMP Limited remains a reliable and evolving provider of financial services with a strong focus on customer outcomes and technological advancements to meet contemporary financial needs.