AMP reveals more on SMSF arm’s shake-up
The chief executive of SuperConcepts, AMP’s newly-rebranded SMSF arm, has outlined what the recent restructure means for the growth of the business and given further details on staffing and management changes.
Yesterday, AMP confirmed a new operating structure for its SMSF business, formerly AMP SMSF and now SuperConcepts.
The shake-up has seen a management reshuffle, and as SMSF Adviser foreshadowed last week, it also included the introduction of a new board.
In line with her strategy from day one, SuperConcepts chief executive Natasha Fenech said the focus of the business will continue to be both on organic growth and growth through acquisition.
“AMP is looking for this business to have a very focused concentration on SMSFs' administration. So the strategy of strong growth does not change from our perspective,” Ms Fenech said.
“Our core focus is organic growth, but we will also look at [growth through acquisition] where it makes sense for our business,” she added.
As part of the restructure, the SuperCorp brand, which was wholly acquired by AMP in November last year, will be removed from the market. Ms Fenech said it was a corporate entity brand, and that the removal will not affect clients.
Ms Fenech admitted some staff have “moved on to new opportunities”. However, she stressed opportunities for staff have also been created through the restructure.
“As a result of this transition to this new entity what’s going to happen is our people will actually be able to have much more broader roles on the basis that they’re overseeing a larger number of brands than what they have previously,” she said.
For example, Peter Burgess, formerly AMP SMSF’s head of policy, technical and educational services, has the new role of general manager, technical services and education at SuperConcepts.
Ms Fenech said she will also be looking to leverage the educational capabilities of the business, and is looking to move some of the educational services of the business online.
Overall, Ms Fenech is confident the restructure positions SuperConcepts well for the next phase of its growth strategy.
“From our perspective we’re really excited about what this means on the basis that it does unify our business,” Ms Fenech said.
“We will continue to provide the range of solutions that we provide today; just unified under a single brand, and that includes the ongoing delivery of Supermate,” she said.