The changes, which come as part of a broader AMP management reshuffle, see SuperConcepts chief executive Lara Bourguignon elevated to managing director of superannuation, retirement and platforms within the wealth giant.
The group has also unveiled a new transformation strategy that will focus on “simplifying and optimising existing platforms and operating models” and “growth via strategic relationships and technology-led alternate revenue streams”, SuperConcepts stated.
Ms Bourguignon said the changes would not have any affect on the group being run independently of AMP to retain its “entrepreneurial mandate”.
“This new role will expedite new opportunities to better leverage our strengths by collaborating more effectively with AMP to help serve the changing needs of high-net-wealth clients,” she said.
Ms Bourguignon added that a key focus for the business going forward would be around software development through its Super Concepts Innovation Lab, and looking at leveraging those technological developments through the broader AMP wealth business.
“After an aggressive acquisition growth strategy, our focus at Super Concepts turned to migrating our clients to a consistent technology platform and dashboard experience,” she said.
“While this work continues, our next frontier is to leverage the strategic relationship with AMP and determine how to better serve Australia’s biggest adviser network.”
Ms Bourguignon said SuperConcepts would also offer an outsourced software development capability to AMP and the wider market.
“We see smaller companies that need software development but don’t have the size for internal development teams and are forced to use external consulting firms and we think we can help them,” she said.
“We are very excited about a future that will deepen our collaboration with AMP’s adviser network while we continue to disrupt the SMSF market with technology-led innovations.”
Very surprising when AMP has been such a disaster, costing many shareholders and others, millions of dollars in Australia.
So 6 months on & another restructure. This misadventure has cost AMP $100m and client numbers are declining.
Ms Bourguignon needs to realise she has unfortunately inherited a spud. The previous leadership may have agressively acquired businesses but they failed to implement a basic service model.
Another change of tack will not save this business.
Closer ties to a tainted parent will not save this business
Improved customer service is the key. Ontime lodgement is a must. A fund a day is all it takes.
By disruption do they mean just stop lodging tax returns and force the ATO’s hand to scrap them all together?
Great to see SuperConcepts is disrupting the SMSF market and really turning it on its head – they better than anyone know though its all about service service service.
Would have thought you’d want to distance yourself from AMP but ok.
Its a shame really as Super Concepts are great supporters of the SMSF sector. Their provision of experts in technical matters to nearly every seminar and to PD days etc has helped many planners raise the level of their advice. Their systems and processes are among the best but there was always going to be a backlash against the AMP move to reduce adviser numbers and they may feel some of that as Ex-AMP Advisers who previously felt obliged to use them now exit and look for alternatives.
Watch the outflow of clients as ex-AMP planners move to new groups and cheaper solutions not tainted by AMP connection for Admin and Audit. Its a case of Show no loyalty then expect no loyalty
Some wonderful weasel words in this SuperConcepts press release. Unfortunately no mention of customer service.