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SuperConcepts to launch trustee resource

AMP’s SMSF business arm, SuperConcepts, has revealed it will ramp up its education efforts for SMSF trustees via a new online capability to be launched next month.

“We’re looking to launch new capabilities, especially on the trustee level, and while we run a number of trustee seminars to try to educate them across all our brands, we’ll be ramping up that capability now under the new SuperConcepts banner,” SuperConcepts chief executive Natasha Fenech told selfmanagedsuper.

“We will be launching a trustee online educational capability next month.

“The trustee [segment] seems to be a bit of a market where there’s a lot of education out there, but there isn’t really anything that’s consolidated where trustees can go to, so we’re really excited about that offering that we’ll be taking to market.”

Fenech said the intention behind the online resource was to try to lift industry standards and knowledge. “Education is a core part of that, so our efforts are increasing in that regard,” she said, adding SuperConcepts would continue to build its online capabilities for its advisers and accountants as well.

The education will be available to existing customers using SuperConcepts’ administration and software services, but will have a fee involved for non-customers.

In February, AMP reported a net profit of $972 million for the full year to 31 December 2015, up 10 per cent on the $884 million figure for the 2014 financial year.

Assets under administration for its SMSF division reached $18.7 million by the final quarter, down slightly from $18.9 million during the third quarter 2015.

AMP announced in January that its SMSF business would operate under the new name, SuperConcepts, and had appointed its own board to continue with the strategy to grow the scale of the business.

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

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