AMP-owned dealer group Hillross has added the Macquarie Wrap platform to support practices that have recently joined the firm from other licensees.
"We've had a lot of success and interest in the last 12 to 18 months, and very much at the moment, with practices from other licensees to come and join Hillross," Hillross managing director John McMurdo told InvestorDaily.
"A number of practices when they are coming from that other licensee use the main platforms - like Asgard, like Macquarie - and it makes it easier for them when we can support clients that they already have on those platforms."
Hillross has added 12 planning practices since mid 2007 and has grown the number of planners on a net basis by 15 per cent from 275 to 315 currently, McMurdo said.
Over 2008 it added seven practices, AMP's annual report shows.
"We have bucked the industry trend," McMurdo said.
Other reasons for adding Macquarie Wrap included offering a wider choice to planners and clients.
"Every platform has its own strength," McMurdo said. "Macquarie is particularly known for its strength in direct equities."
Hillross currently uses Asgard as its main platform and its planners also have access to AMP's CustomSuper and Flexible Lifetime systems.
Hillross will continue to use Asgard and has recently extended the contract with the platform provider until 2012, McMurdo said.
