Business News

AMP rebrands SMSF business

Financial services giant AMP has this morning announced its SMSF business will operate under the new name, SuperConcepts, and has appointed its own board to continue with the strategy to grow the scale of the business.

SuperConcepts incorporates the range of services the business now offers including SMSF administration, education and software services.

Operating as sub-brands of SuperConcepts will be existing brands AMP SMSF Solutions (AMP SMSF), Ascend, Cavendish, Justsuper, Multiport, SuperIQ, SuperMate and yourSMSF.

The business will remain wholly owned by AMP and will continue to be led by Natasha Fenech as SuperConcepts chief executive, moving from her role as AMP SMSF managing director.

“We have grown considerably over the last year, both organically and through a number of strategic acquisitions, increasing our scale and efficiency in a rapidly growing and highly fragmented SMSF administration market,” Fenech said today.

“This change unifies our business and teams, better positioning us to pursue the next phase of our growth strategy, which will be driven by high-quality customer service, access to a range of market-leading SMSF product providers and the ongoing delivery of a superior SMSF software solution, SuperMate.

“We know from our research that the brand is well regarded, trusted and resonates with our customers across all of our services.”

AMP said its customers would not experience any immediate change to how they interacted with the provider.

The SuperConcepts business will also be supported by its own board, including a non-executive chairman and five directors.

Richard Grellman has been appointed chairman of the board.

Grellman holds significant experience in financial services gained from more than 30 years at KPMG and a number of roles as chairman and non-executive director of several public companies, including Crowe Horwath.

Other appointees to the board are SuperIQ chief Andrew Bloore, AMP chief innovation officer Jonathan Dean, former ATO assistant deputy tax commissioner for super Stuart Forsyth, AMP chief customer officer Paul Sainsbury and Fenech.

In addition to the board, a new leadership team comprising nine members has been established to support the growth of SuperConcepts.

Justsuper founder Stephen Doulgeridis has been appointed as business development general manager, while former SuperCorp chief Kurt Groeneveld has been appointed as chief technology officer.

In November, AMP purchased administration technology providers SuperIQ and SuperCorp.

It wholly acquired SMSF administration business Justsuper in July.

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