AMP's North platform has reported net cash flows of $636 million for the first half of 2012, more than triple the first half 2011 net cash flows of $209 million.
AMP director of platforms Steve Burgess said the strong result was due to North's move to full wrap capability, which provided investors with access to a greater range of investments.
"This year we've been increasing the size of our inflows and funds under management as we've built out the North platform to be a true fully-fledged wrap," he said.
North has surpassed $3 billion in assets under management (AUM), with 52 per cent of AUM made up of non-guarantee business, 31 per cent of AUM placed by non-aligned advisers and 54 per cent managed internally, principally through ipac multimanager.
"We've been focused on building out North and rolling out the platform to the AMP and Hillross network and that's proved to be very successful as at the end of July this year," Burgess said, adding that $190 million came from AMP and Hillross planners.
"It's still a fairly low [AUM] base, relative to the market, but nonetheless, not many platforms in the market are in positive territory."
The number of registered advisers on North until July 2012 was 3418, from 2440 in 2011.
The year-to-date number of new applications on North reached 10,135, which was just off the number of applications received for the whole of 2011 at 10,247.
In the second half of 2011, more than $58 million in term deposits was acquired by AMP Bank through the platform.
AMP plans to have 235 investment options available on North by September.
