AMP SMSF Solutions (AMP SMSF) has today announced it wholly acquired SMSF administration business Justsuper, in a move that further expands its SMSF operations.
Justsuper will continue to operate under its own brand name and with its existing team of employees, with no disruption to clients.
It has more than 1000 funds under administration.
AMP SMSF managing director Natasha Fenech said the acquisition was consistent with the business strategy to build market share and efficiency in scale.
“We’re excited to announce the acquisition of Justsuper as we continue to grow our SMSF operation,” Fenech said.
“It places the business in a strong position for future growth and further cements our leading position in the SMSF administration market.”
The announcement was great news for Justsuper and its clients, Justsuper chief executive Stephen Doulgeridis said.
“We will continue to operate in the same way we always have,” Doulgeridis said.
“Clients will now benefit from a broader range of market-leading SMSF administration platforms as well as having access to AMP SMSF’s team of highly regarded technical experts.”
Doulgeridis will sit on the AMP SMSF Leadership Team and will report to Fenech, with a focus on continuing to manage the existing client relationships.
Justsuper was established in 2004 and is an SMSF specialist administration business supporting compliance obligations of professionals and self-directed trustees.
It provides a broad range of SMSF services to support accountants, financial advisers, stockbrokers, dealer groups and self-directed trustees.
Other established AMP brands in the SMSF space include Cavendish, Multiport and Ascend.