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Highlights
- AMP’s platforms segment posts $740M net inflow
- Total AUM slightly lower due to market swings
- Superannuation division faces modest outflows
AMP Limited (ASX:AMP) has posted a notable increase in net cashflows through its platforms business, with the latest quarterly update revealing a net inflow of $740 million. This continues a positive trend in adviser support and client onboarding, signaling growing momentum for the financial services firm in its wealth platform offerings.
While the increase in net flows represents a strong quarter for the platforms arm, AMP's total assets under management (AUM) dipped slightly to $78.8 billion, down from $79.8 billion in the prior quarter. This decline was attributed primarily to volatility in investment markets, which affected valuations across asset classes.
The platforms division, which includes AMP’s North platform, has been central to the company’s strategic focus. According to the company’s leadership, the growth in net inflows underscores the successful execution of its strategy to enhance the appeal and usability of its platforms for financial advisers and their clients.
Chief Executive Alexis George emphasized the sustained momentum in cashflows despite a challenging broader environment. She highlighted that efforts to improve the North platform and support advisers are beginning to pay off, allowing AMP to stand out in a competitive market.
"We have seen the positive momentum in cashflows across our platforms business continue with another strong quarter, which reflects our focus on making North a preferred platform for advisers," George noted.
On the other hand, the superannuation and investments division recorded assets under management of $55.8 billion. However, this segment experienced net cash outflows of $108 million during the quarter, indicating continued structural and demographic headwinds in that part of the business.
Despite these outflows, the broader narrative for AMP remains centered on platform growth and technological enhancements, aiming to build a more resilient and scalable business model. The company’s leadership remains focused on long-term client outcomes and innovation, while navigating through market volatility.
The recent update from AMP (AMP) suggests that while market conditions remain fluid, the firm’s core strategy around platforms is resonating, helping to drive inflows and deepen adviser engagement. The results paint a picture of a business that is adapting and evolving, with a clear eye on growth and customer value delivery.
