AMP has appointed a leading self-managed super fund (SMSF) expert to its SMSF business, as the company looks to expand its focus on the booming sector.
Former SMSF Professionals Association of Australia (SPAA) national technical director Peter Burgess will join AMP SMSF as head of policy and technical, as the group reiterates its aims to be the leading expert in the SMSF industry.
"Self-managed super funds are the fastest growing superannuation sector in Australia so it makes sense for AMP to be in it," AMP SMSF managing director Paul Sainsbury told InvestorDaily.
"Our research shows that SMSFs increasingly look to a trusted brand like AMP to help them manage their SMSFs, as more people choose SMSFs, and that most trustees seek advice in some form."
In his new role, Mr Burgess will be responsible for interpreting SMSF legislation to inform the development of SMSF advice strategies and technical support materials for AMP's aligned planner network.
He will also lead AMP's SMSF policy development and represent the business in SMSF industry groups.
Mr Sainsbury said the increasing engagement of customers with their superannuation presents an opportunity for AMP to further their service offering.
"If you bring into the mix technology advances and customers becoming more engaged with their superannuation - which is driving customer take-up and enabling improved economics - then this is the stand-out growth opportunity for AMP," Mr Sainsubry said.
"It's also an opportunity to better serve our customers, planners and accountant partners."
Mr Burgess has had more than five years' experience at SPAA and is a former SPAA board director.
Prior to his role with the association, he was at advisory firm Kingston Capital Limited as general manager, superannuation services, and Australian Executor Trustees (formerly TOWER Trust Limited) as head of technical superannuation services.
He sits on a number of Australian Taxation Office SMSF regulatory and technical groups and is an adjunct lecturer with the University of Adelaide.
