AMP doubles its SMSF adviser numbers
AMP has seen its SMSF Advice licensee numbers jump from 57 in 2013 to 128 at the end of 2014, according to its full-year results.
The results also showed an increase in the number of accounts administered by AMP SMSF with the total number rising by 627 to 15,462.
AMP attributed this growth to both AMP aligned advisers and non-aligned advisers and accountants.
“Growth was offset, in part, by some anticipated attrition from prior period SMSF acquisitions,” AMP said.
The results also showed SMSF assets under administration rose 14.4 per cent in the 2014 financial year to $18.9 billion.
Net profit for the company overall was $884 million for the 12 months to 31 December 2014. This is a 32 per cent increase from the $672 million net profit reported for 2013.