In November last year, AMP confirmed it had increased its ownership of SuperIQ from 51 per cent to 100 per cent, and increased its stake in SuperCorp from 20 per cent to 100 per cent.
“We are now focused on integrating the two acquired companies with our existing SMSF business. As part of this, we are in the process of establishing a new board for the SMSF administration business,” an AMP spokesperson told SMSF Adviser.
SMSF Adviser understands that former assistant deputy commissioner, superannuation at the ATO, Stuart Forsyth, will be on the new board.
It also understands that SuperIQ’s chief executive, Andrew Bloore, will be on the board, as well as chief customer officer at AMP Paul Sainsbury.
AMP has, however, yet to confirm these board appointments to SMSF Adviser.
Further details on the board’s composition will be announced in the first quarter of 2016, the spokesperson said.
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Do we think this means that all the AMP SMSF company acquisitions will result in eventual rationalisation of admin platforms i.e. migration to one product e.g. Class Super or other??