AMP SMSF acquires Justsuper

AMP SMSF has today announced the acquisition of SMSF administration business, Justsuper, continuing to grow its market share in Australia’s $500 billion SMSF sector.

Effective immediately, AMP SMSF has wholly acquired the Justsuper business, which has more than 1,000 funds under administration.

AMP SMSF Managing Director, Natasha Fenech said the acquisition is consistent with the business strategy to build market share and efficiency in scale.

“We’re excited to announce the acquisition of Justsuper as we continue to grow our SMSF operation.  It places the business in a strong position for future growth and further cements our leading position in the SMSF administration market,” she said.

Following the acquisition, Justsuper will continue to operate under its own brand name and with its existing team of employees, with no disruption to clients.

Stephen Doulgeridis, Chief Executive Officer of Justsuper commented: “This is great news for Justsuper and its clients.  We will continue to operate in the same way we always have.  Clients will now benefit from a broader range of market leading SMSF administration platforms as well as having access to AMP SMSF’s team of highly regarded technical experts,” he said.

Mr Doulgeridis will sit on the AMP SMSF Leadership Team reporting to Ms Fenech, with a focus on continuing to manage the existing client relationships.

Self-managed super funds continue to be the fastest growing segment of the superannuation market with more than one million Australians a member of an SMSF, representing more than $500 billion in assets under administration.

Source: AMP