MyNorth platform guide

Transcription

1 MyNorth platform guide MyNorth helps you confidently reach every client s goals Adviser use only

2 MyNorth is a leader in providing financial solutions as one of Australia s fastest growing super and investment platforms 1. MyNorth is here to support you and your business with solutions that can help you become more efficient, so you can spend more time focusing on the important things helping your clients own their tomorrow. We understand that as your clients lives change, so will their financial goals. They may not need all the bells and whistles of a full investment platform right now, but they may one day. That s the beauty of MyNorth it can grow with your clients, offering them today s solutions for tomorrow s goals. 1 Based on MyNorth and North Net Cash Flow and Funds Under Advice data as at December 2017, over a two year period, provided by Strategic Insight. Registered trademark of NMMT Limited ABN

3 Why choose MyNorth The world is changing rapidly and our industry is no exception. The shift to digital, regulatory changes, global financial uncertainty, and clients seeking greater control, offers new opportunities for financial service providers. MyNorth can help you deal with the complexity of these changing times. It can support you while you focus on growing your business, by giving you the flexibility and control you need, to confidently help your clients reach their financial goals. One platform, many benefits MyNorth can help you Manage your business effectively with one platform for all your clients investment, super and pension needs. Grow your business with offers that can help you attract and service a broad range of clients. Better tailor your service to your clients advice needs with a flexible and competitive pricing model. Service your clients easily with the efficiency of online portfolio management, including bulk trading, share trading, account creation and account management. Draw on the expertise and support of business partners in AMP. MyNorth can help your clients Access a diversified investment portfolio of over 430 managed funds, managed portfolios, listed equities, and cash options like term deposits. Save on fees with discounts for your clients and their families. Get protected with AMP Elevate s award-winning 1 individual insurance options. Protect the capital they have (with upside potential) with our guarantees. MyNorth is a competitive, award-winning 2 and contemporary platform that helps you focus on what you do best help your clients confidently reach their financial goals. 1 Life Insurance Company of the Year, 2016, Australian and New Zealand Institute of Insurance and Finance (ANZIIF). AMP voted winner of CoreData SMSF Service Provider Awards in the Insurance SMSF Member Category, Winner, Value for Money 2017, Policyholder category, AFA Consumer Choice Award. 2 MyNorth won Chant West s 2017 Advised Product of the Year award. For further information about the methodology used by Chant West, see 3

4 One platform for life MyNorth helps you confidently reach all your clients goals MyNorth recognises the many goals, opportunities and risks faced by your clients at different life stages, like the early days, through to buying a home, raising a family, growing super and wealth, into retirement and beyond. And, it offers solutions and support to help manage each of them. MyNorth Investment MyNorth Super MyNorth Pension Helps your client save for life s big moments For all your clients savings, trust, company and self-managed super fund needs. You ll have a huge range of investments to choose from, including most listed Australian shares. Helps your clients grow their super so they can retire right Your clients can grow their retirement nest egg through a range of investment options and strategies. When they re ready to retire, it ll be easy for you to transfer their savings to a MyNorth Pension account. Help your clients make the most of their retirement MyNorth Pension turns your clients hard-earned super savings into a regular income stream during retirement. What s more, it can be a tax-effective way for your clients to spend their super, with a variety of tax offsets and tax-free earnings and withdrawals potentially available. Helping your clients protect their wealth MyNorth can protect your clients ability to generate future wealth with AMP Elevate s award-winning insurance options. It can also protect their accumulated savings by offering capital protection with their MyNorth Guarantees. 4

5 Key life stages, and solutions to fit MyNorth has solutions that can help your clients, no matter where they are in their life. $ Retirement Earning potential Financial capital Pre-family Family Pre-retirement Active Passive Care Age Early accumulation Setting the sights Home stretch Retirement income Ages Ages Ages Ages Typical profile: Financial capital is low / earning potential is high Focussed on setting up family and career Keen to protect their earning potential Looking for a simple super strategy and low-cost investment solutions. Typical profile: Key wealth accumulation stage Career and family have taken off financial capital is growing Protecting their earning potential is still important Looking for tailor-made investment solutions incorporating growth assets such as shares, exchange traded funds (ETFs) and specialist fund managers. Typical profile: Financial capital is at its highest Five to seven years before retirement entering the critical zone, where they re very sensitive to market performance Starting to budget and plan for retirement Keen to protect accumulated wealth Looking for a seamless transition into pension phase. Typical profile: Earning potential is low, unlikely to go back to work Need to convert financial capital into a regular retirement income Keen to manage the risks in retirement Need a guarantee that money won t run out. 5

6 MyNorth makes investing easy When it comes to investing, everyone s different That s why MyNorth offers: Choice from over 430 managed funds, managed portfolios, listed securities, and cash options like term deposits. Flexibility to build your client s personalised investment portfolio to suit their life stage. The MyNorth Managed Portfolios and Advantage Funds range are new to 2018 and add to an extensive range of investment options giving your clients access to choice, expertise and value. AMP, Adelaide Bank, Westpac, ANZ Term deposits Shares, ETFs, ETCs, LICs, LITs, AREITs Australian listed equities Investment choice Managed portfolios Diversified managed portfolios Cash and fixed income Cash account, CMTs and bonds Managed funds Diversified, goals-based, single-sector, Guardian and Advantage funds Three investment menus to choose from Core Select Choice Keep it simple Low-cost solutions like MyNorth Retirement Fund, MyNorth Dynamic Balanced Fund, and the MyNorth Index investment options. Well-priced options A range of diversified, goals-based and single-sector options to suit most of your needs. This menu also includes cash options like term deposits. More choice to choose from More managed funds (including the Advantage Funds range), managed portfolios and listed equities (super and pension accounts have access to Australia s top 300 listed shares). 6

7 Managed funds With over 430 managed funds to choose from, you can efficiently and cost-effectively build a portfolio suitable for a client s investment strategy and risk profile. They re managed by some of Australia s leading fund managers (including AMP Capital and ipac portfolios), offering you and your clients access to the best industry experience, investment thinking and market insights. Diversified investment options These options can help you leverage the efficiency they bring to practice management. Benefits include superior portfolio construction, manager and asset diversification, professional research and the selection and monitoring of fund managers. Goals-based investment options Depending on what life stage your clients are in, they ll have different financial goals which might evolve over time. The goals-based investment options are designed to suit specific retirement goals like generating a regular reliable income in retirement or growing wealth over the long term to provide a legacy for future generations. Supporting some common goals in retirement Legacy Legacy to leave behind for loved ones or a cause close to their hearts. Lifestyle Ability to pay for holidays, new car and luxury items that are not essential. Essential needs Ability to pay for everyday living expenses such as food, clothing and shelter. Single-sector investment options These options may be suitable if you re looking to take a more active approach to building and managing your clients investment portfolios. They leverage the significant research that goes into the model portfolios and aim to reduce the complexities and costs associated with manager selection, changes and monitoring. Helping to reduce the time you spend researching, appointing and monitoring fund managers. Advantage Funds range This range offers access to quality wholesale funds across all major asset classes at a lower ongoing management fee, from a range of respected fund managers. Some of the key benefits include: Great value with up to a 25-basis point discount against the equivalent wholesale funds management fee. Quality funds with the range sharing the same research house rating as their wholesale equivalents. Access to leading investment managers offering best-of-breed fund manager expertise. Diversification across all major asset classes. Portability across MyNorth, North, Summit and ipac iaccess products. 7

8 MyNorth Managed Portfolios MyNorth Managed Portfolios can help you manage your business efficiently, freeing up your time to focus on client engagement and strategy to help your clients achieve their goals. They re available across MyNorth, North, Summit and iaccess super, pension and investment products. Here are some of the key benefits. Investment management Managed portfolios offer a range of diversified risk-based portfolios that are expertly constructed and managed with the aim to meet set investment objectives. Sector-specific portfolios and goals-based portfolios will be coming. Transparency and control Clients can track performance of the individual underlying assets within the managed portfolio on North Online. A client s holdings can also be transferred or switched in or out of chosen managed portfolio(s) while maintaining beneficial ownership throughout the process. Diversification to help enhance returns and manage risk Diversified managed portfolios invest in a range of asset classes and quality managers to help enhance returns and minimise risk. Some of these assets are from the Advantage Funds range that leverages AMP s scale and relationship with fund managers to provide quality wholesale funds at a lower ongoing management fee than their wholesale equivalent. An efficient way to implement your clients investment strategies Client portfolios can be efficiently managed as investment decisions are delegated to experts, and any changes can be implemented quickly and consistently for all clients in the managed portfolios without the need to produce further advice documents or maintain an MDA. This offers: More time to focus on client engagement and strategy to help your clients achieve their goals rather than investment administration and execution. Support with ongoing compliance as experts will regularly monitor and make necessary changes to the managed portfolios to ensure they align with stated objectives. Improved response time to market events to take advantage of emerging opportunities or to manage risk as investment changes can be made without the delay of engaging clients for consent. How we re delivering managed portfolios MyNorth Managed Portfolios Now available Research Choice Managed Portfolio Series More managed portfolios coming Accumulation range Income range Objective -based range 12 managed portfolios constructed using managed funds, offered by NMMT Limited and managed by the AMP Research team. Managed portfolios constructed using Australian listed equities, offered by AMP Capital and other well-known investment managers will be coming. 8

9 Term deposits Your clients can choose term deposits from Adelaide Bank, AMP Bank, ANZ and Westpac. Terms range from 30 days to five years, or select your own end date where available, helping you plan cashflow needs for specific events and timeframes. Clients can even opt to terminate the term deposit early and switch to another investment, although lower interest rates or fees may apply. Short-term deposits Long-term deposits 1 month 3 month 6 month 9 month 12 month 2 year 3 year 5 year Shares Investing directly in the share market can help build your clients wealth and diversify their portfolios as they mature and their financial needs become more sophisticated. Choice and value in shares for your clients MyNorth is about providing choice MyNorth Investment clients can trade all ASX listed securities, and MyNorth Super and Pension clients can trade the S&P/ASX 300 index. MyNorth clients have access to a range of listed funds including Exchange traded funds (ETFs) companies and trusts. ETFs and Exchange traded commodities (ETCs) are efficient, tax effective and a great way to gain exposure to a diverse selection of assets. Enjoy competitive rates With brokerage fees starting from as little as $34 for trades and around $25 for in-specie transfers, our prices are among the most competitive in the marketplace. Choose to reinvest or take profits One of the most attractive aspects of direct share trading with MyNorth, is that your clients can choose to either take profits from their investments, or automatically reinvest their share dividends to generate potential capital growth. Direct share trading gives you greater flexibility Trade shares in real time No delays or forms. No unnecessary middle-men. Real-time trading means your clients trading instructions are placed directly with our broker partner, making your business processes even more efficient. Keep track of corporate actions Our corporate actions capability means you can easily keep track of market activity and, with individual holder identification numbers (HINs), take full control of your clients elections. You can easily make bulk elections across a number of clients. 24/7 access to the latest news and research Our quotes and research portal features watchlists, live prices, company research and investment reports. The information is at your fingertips so you can make informed investment choices on behalf of your clients. 9

10 Competitive and flexible fees Your clients should only pay for what they need Our fees are competitive and flexible enough to suit your clients needs. Three investment menus Fee aggregation Fee caps Choice from three investment menus means your clients will only pay for what they need. We ll use your client s total portfolio value to work out their administration fee, rather than using their individual account balances. We put a lid on administration fees (including the account fee) for MyNorth Super, Pension and Investment accounts: Individual clients will pay no more than $3,500 pa. Families will pay no more than $4,500 pa.! Important note: Administration fees are charged per month on the day of the month the account was set up. To make the most out of fee capping, it s important that your client s accounts are set up in the correct order. Portfolio value ($) (i) Core (% pa) Select (% pa) Choice (% pa) Super & Pension 0 149,999 Choice (% pa) IDPS , , , , , , , (i) Includes all MyNorth Super, MyNorth Pension, MyNorth Investment, North Personal Super, North Personal Pension, and North Investment accounts. How individual clients can benefit Your clients can bring all their accounts to MyNorth and we can help grow their wealth on one platform with a competitive fee structure. Fee aggregation Individual fee cap We ll use your client s portfolio value to determine the administration fee they ll pay. This will include up to six of their individual and joint accounts. An individual administration fee cap of $3,500 pa applies to all your client s MyNorth Super, MyNorth Pension and MyNorth investment accounts (where their MyNorth Investment is in the same name as their MyNorth Super/Pension account). See how Ian Smith can pay less fees with MyNorth For this example, Ian Smith is fully invested in options in the Choice menu. Mr Ian Smith MyNorth Investment $500,000 Ian pays $1,250 in admin fees per year MyNorth Super $500,000 Ian pays $1,500 in admin fees per year MyNorth Pension $1.6 million Ian only pays $750 in admin fees per year having reached the individual fee cap of $3,500 pa (without any cap, Ian would have paid $4,800 pa) With the individual fee cap, Ian pays a maximum of $3,500 per year, across all accounts, which has saved him $4,050 in fees. 10

11 How families can benefit When clients team up with family members, they can all enjoy lower fees and build intergenerational wealth. Family group Family fee aggregation Family fee cap You can group up to four family members, with a maximum of six accounts each. All must be related to the primary account holder eg a spouse, de facto, parent, child, sibling, grandparent and grandchild. SMSFs, trusts, and companies can be included provided the underlying trustees, beneficiaries and directors are related to the primary account holder. We ll combine all the accounts in the family group to determine their total portfolio value to reduce the administration fee they ll pay. A family fee cap of $4,500 pa applies for their MyNorth Investment, Super and Pension accounts. See how Ian Smith and his family can pay less fees with MyNorth For this example, the Smith family is fully invested in options in the Choice menu. Administration fee without family grouping Without family grouping, the Smith family will have their fees charged based on their individual portfolio values. Mr Ian Smith MyNorth portfolio Ian pays $3,500 in admin fees per year Ms Sally Smith MyNorth Super $500,000 Sally pays $2,250 in admin fees per year Mr Matthew Smith MyNorth Super $100,000 Matthew pays $650 in admin fees per year The Smiths will pay $6,400 pa in administration fees if they re not set in a family group. Administration fee with family grouping With family grouping, the Smith family can pay less fees with fee aggregation and the family fee cap. Fees the Smith family will now pay in a family group Ian pays $3,500 in admin fees (having reached the individual fee cap of $3,500). Sally now pays $1,000 in admin fees (having reached the family cap of $4,500). Matthew now pays no admin fees. The Smith family have reached their fee cap of $4,500 pa, so Sally will pay $1,250 less and Matthew will pay no admin fees. 11

12 MyNorth pricing in action Through MyNorth your clients can construct a tailored and cost effective investment portfolio. The following scenarios illustrate how a client with a balanced risk profile and an account balance of $500,000 can invest in MyNorth s diverse investment options for less than 1% of the total invested amount. Scenario 1 using a balanced fund Investment options Amount Working cash account $20,000 Term deposit $80,000 AMP Capital Income Generator $200,000 MyNorth Index High Growth $100,000 North Professional Balanced $100,000 Total amount invested $500,000 Costs 1 Investment costs $3,210 Platform fees $1,041 Total cost $4,251 (0.850%) Asset allocation 18.6% 24.2% 1.2% 6.1% 2.6% 29.3% 18.0% Growth 56% Australian equities International equities Property Other Defensive 44% Cash Australian fixed interest International fixed interest Scenario 2 using a balanced fund with the Dynamic Markets Fund Investment options Amount Working cash account $20,000 Term deposit $80,000 AMP Capital Income Generator $200,000 MyNorth Index High Growth $100,000 AMP Capital Dynamic Markets Fund $100,000 Total amount invested $500,000 Costs 1 Investment costs $2,860 Platform fees $1,041 Total cost $3,901 (0.780%) Asset allocation % 22.8% 2.8% 6.5% 1.8% 25.7% 21.1% Growth 55% Australian equities International equities Property Other Defensive 45% Cash Australian fixed interest International fixed interest 1 Management cost includes performance fees plus indirect costs but excludes transactional, operational and borrowing costs. 2 The neutral asset allocation for Dynamic Markets Fund has been used and this is only a guide as to where the portfolio may be positioned in the absence of any asset allocation views. Actual asset allocation will vary from the neutral asset allocation. 12

13 Scenario 3 using shares Investment options Amount Working cash account $20,000 Term deposit $80,000 AMP Capital Income Generator $200,000 AMP Capital Dynamic Markets Fund $100,000 Direct Shares $100,000 Total amount invested $500,000 Costs 1 Investment costs $2,210 Platform fees $1,491 Total cost $3,701 (0.740%) Asset allocation % 21.9% 2.8% 6.5% 1.1% 11.5% 37.0% Growth 56% Australian equities International equities Property Other Defensive 44% Cash Australian fixed interest International fixed interest Scenario 4 using a managed portfolio Investment options Amount Working cash account $20,000 Term deposit $80,000 AMP Capital Income Generator $200,000 MyNorth Index High Growth $100,000 Research Choice Aggressive Accumulation Managed Portfolio $100,000 Fidelity Advantage Australian Equities $12,000 Schroder Advantage Australian Equity $9,000 Ausbil Advantage 130/30 Focus $9,000 DNR Capital Advantage Australian Equities High Conviction $9,000 Arrowstreet Advantage Global Equity $13,000 Zurich Investment Advantage Global Growth $7,000 Antipodes Advantage Global $7,000 Magellan Advantage Global $7,000 Lazard Advantage Global Infrastructure $8,000 Vanguard Australian Property Securities Index $3,500 AMP Global Property Securities $3,500 Invesco Advantage Global Targeted Returns $12,000 Total amount invested $500,000 Costs 2 Investment costs $3,320 Platform fees $1,241 Investment fee $100 Total cost $4,661 (0.932%) Asset allocation % 31.6% Growth 61% Australian equities International equities Property Other 21.2% 5.6% 4.8% 19.1% Defensive 39% Cash Australian fixed interest International fixed interest 1 Management cost includes performance fees plus indirect costs but excludes transactional, operational and borrowing costs. 2 The neutral asset allocation for Dynamic Markets Fund has been used and this is only a guide as to where the portfolio may be positioned in the absence of any asset allocation views. Actual asset allocation will vary from the neutral asset allocation. 3 The asset allocation for the Research Choice Aggressive Accumulation Managed Portfolio can vary from time to time. 13

14 Guarantee your clients tomorrow Your clients can enjoy the highs and be protected from the lows We offer the choice of capital and income guarantees to help your clients own their tomorrow. Investment guarantee Growth guarantee Retirement guarantee Protects your clients savings (and all contributions) during market lows and locks-in any market gains every two years. Protects your clients savings (all contributions) during market lows and locks-in any market gains annually. Provides the security of a guaranteed retirement income for life even if your clients run out of their own funds while in retirement and locks-in any market gains annually. How does it work? This graph illustrates the main features of MyNorth Protected Growth Guarantee. $360,000 Protected balance Account value Available balance Locked-in growth $320,000 Initial contribution protected balance Locked-in protected balance annually $280,000 Investor receives the full protected balance $240,000 Account value fluctuates with investment performance $200,000 $160,000 Available balance is the amount clients are entitled to if they make a full withdrawal before the completion of the selected term Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Year 9 Year 10 This example is illustrative only and is not an estimate of the investment returns your clients will receive or fees and costs you ll incur. It is based on the following assumptions: (a) AMP MyNorth Protected Growth Guarantee, 10-year term invested in a Managed Volatility Growth Fund (b) including Guarantee fee and investment management fee. It does not include administration fee or advice fee. Past performance is not a reliable indicator of future performance. 14

15 Award-winning AMP Elevate insurance 1 Help your clients protect what s valuable to them Your clients can access AMP Elevate insurance through MyNorth, to protect their assets and make sure their loved ones are taken care of if anything happens to them. Life insurance Helps protect your clients family against financial hardship if they pass away or become terminally ill. Total and permanent disability insurance Helps your clients cope financially and maintain their quality of life if they become totally and permanently disabled. Trauma insurance Helps pay for unforeseen expenses should your client suffer from trauma of things like heart attack, cancer and stroke (available for investment accounts only). Income insurance Helps provide a regular income to cover day-to-day living expenses while your clients are too sick or injured to return to work. Save your clients money through MyNorth Super Paying insurance premiums through a MyNorth Super account can help your clients save on tax and hold onto more of their take home pay. 2 SELF MANAGED SUPER FUND AWARDS 2017 INSURANCE SMSF MEMBER WINNER 1 Life Insurance Company of the Year, 2016, Australian and New Zealand Institute of Insurance and Finance (ANZIIF). AMP voted winner of CoreData SMSF Service Provider Awards in the Insurance SMSF Member Category, Winner, Value for Money 2017, Policyholder category, AFA Consumer Choice Award. 2 Holding insurance through super may erode your overall retirement assets. There may also be tax payable on claims made on policies held through super. 15

16 Experience the North Online difference North Online is designed to support the quality financial advice you offer with speed, ease of use and flexibility Speed Straight-through transaction processing at the click of a button. No waiting for paperwork to be mailed applications can be made online and processing is virtually instant. Transaction status monitoring that keeps you informed every step of the way. A dedicated North Service Centre making sure all queries are handled quickly and efficiently. Ease of use Easily manage clients portfolios in one place. Intuitive design with the ability to access all areas of the site within three clicks. Designed to work with you in the office or on the go access via desktop, laptop and tablet. Flexibility Choose to delegate authority to your office team. Select the level of control your clients have when accessing their account. Nominate the level of permissions for managing models. North Online is available 24/7 for you and your clients. Log on at northonline.com.au today to experience the North Online difference. 16

17 North Online offers the latest wealth management technology With North Online, MyNorth gives you the ability to respond rapidly to your clients investment and retirement planning needs. Find what you need at your fingertips including: saved and pending activities, online forms, the latest news and announcements, product information and a sophisticated client search facility with powerful portfolio management tools and search functions. Clients Create new MyNorth accounts and search existing clients. Activities Everything you re doing or have done in one handy spot. Reporting Produce reports and download data feeds to XPLAN, and COIN. Product Access details like the investment and insurance options available. Support Read the latest news and announcements, download support materials and contact the North Service Centre. Activities Search for and view the progress of activities and take any necessary action. News and announcements The latest news direct to your desktop. Client quick search All your clients details at the click of a button. Quick links Access links to popular areas of the site including term deposit rates and product disclosure statements. Access Provide access to your team to help service your clients. 17

18 Control and features for you North Online provides all the tools and support you need to efficiently manage your business, making sure your clients needs remain your top priority. Models It can take time to create and maintain the right blend of defensive and growth assets. Models can help you build an ideal investment mix across managed funds and equities. Models can mean more efficient client reviews and more time to focus on delivering quality financial advice. Our model functionality allows you to: create your own models share models with colleagues use your licensee s model, or tailor it to your preferences if required rebalance model allocations across clients at any time unassign clients from models at any time switch between models for multiple clients at once hold and manage multiple models in a single client account review the performance of a model and underlying investments set instructions for how model income is treated ie reinvested or paid to cash account. use rebalance tolerances to minimise trades and CGT impacts when performing a model rebalance. Bulk transactions Whether buying shares, taking advantage of an initial public offering or rebalancing portfolios, it can be frustrating to do the same task over and again for different clients. North Online lets you perform multiple transactions across a group of clients it s quicker, more efficient and less prone to error. Once you ve completed the transaction, we ll issue individual confirmations, giving you an accurate record. External asset transfers Combining investments onto one platform can save you time through consolidated reporting, and potentially save your clients money on buy/sell costs. MyNorth allows in-specie transfers into and out of non guaranteed super, pension and IDPS accounts. 18

19 Switching You can switch directly between managed funds, or from managed funds into equities, without having to sell down the assets to cash first. All switches can be performed using dollar values and you ll receive instant confirmation once the switch has been made. Managed discretionary accounts To really streamline your business, managed discretionary accounts (MDAs) allow you to trade without client signatures across your entire business. 1 Event alert management Be ready and alert for the important things you need to know. North Online provides an event alert management tool, allowing you to subscribe to a comprehensive list of alerts. Stay up to date with progress reports on key transactions and activities. And you can add, remove or change the frequency of each alert. Accurate and intuitive reporting North Online offers comprehensive online reporting for your business and your clients, providing you with timely, accurate and detailed tracking of your administration activity. Client reporting features Customisable content to add a professional touch that can be downloaded and printed Generate account holding and valuation reports (includes investment asset allocation and profile) Generate performance reports Consolidate multiple fund manager profiles into a single PDF document. Business reporting features Segment your client base Assess business profitability Consolidated view of your clients cash account holdings Dividend and distribution dates for each North and MyNorth investment option View, through North Online, information such as funds under advice, adviser revenue, practice level information, and guarantee selection. 1 According to your licensee s guidelines. 19

20 Here to support you Your platform should enable you to spend less time dealing with administration and more time with your clients. We continually invest in the platform to ensure our technology meets both you and your clients changing needs. We also have a dedicated team, ready to respond to your needs. Sales support AMP business development representatives are product specialists who can provide you with the support, expertise and technical advice required to develop solutions for your clients. Our BDMs are knowledgeable and passionate about helping your clients achieve their financial goals, and want to work in partnership with you and your business. North Service Centre The North Service Centre is a dedicated team of experts to help you and your clients. To contact the North Service Centre, simply call or north@amp.com.au. GoToAssist Through GoToAssist, North Service Centre consultants can remotely access your computer screen to better understand your needs. If you d like a tour of the website or help with completing your first transaction, a team member can connect to your computer and see exactly what you re seeing on your screen. They can then provide you with answers and assistance on the spot. 20

21 MyNorth at a glance MyNorth key features Transactions Minimum initial investment $2,000 Minimum additional ad hoc $0 investment (i) Maximum investment A maximum contribution, rollover or transfer of $10 million applies to MyNorth Super accounts. A maximum rollover or transfer of $10 million applies to MyNorth Pension accounts. A maximum of $2 million applies to accounts with a guarantee. (ii) Minimum ad hoc withdrawal $0 Minimum buy and/or sell of investment options $100 for managed funds/$650 for listed securities Minimum account value $2,000 Cash account balance A flexible working cash account allows clients to specify the minimum and maximum amounts to be held. (i) Superannuation only. (ii) Account balances greater than $1.6 million require individual approval where a Guarantee is selected. The government has introduced a new transfer balance cap of $1.6 million (indexed in line with CPI in $100,000 increments) effective from 1 July The new cap also extends to all accounts with a Guarantee. Product features Without a Guarantee With a Guarantee Regular savings plan (iii) Income The minimum ongoing amount is $10 per payment for a MyNorth Super or Investment account via direct debit from a bank account fortnightly, monthly, quarterly, half-yearly or yearly. Income distributions (iv), dividends and interest for each investment option, where applicable, will be credited to your client s cash account or paid via the cash account to their bank account for pension clients, unless otherwise noted. Investment switching Investment instructions Clients can switch all or part of their portfolio between the full range of investment options available at any time. There is no limit on the number of switches clients can make each year. Clients can arrange to have investment instructions for buying and selling investment options to and from their cash account. Clients can switch between the specified range of investment options in accordance with their selected investment strategy up to six times each year. Purchase investment instructions must be within the investment options available within their nominated investment strategy. Investments will be sold in proportion to your client s account value. Dollar cost averaging How will the benefit be paid upon death? Additional investment payment options Allows clients to invest a set dollar amount into the market at regular intervals. Clients may nominate beneficiaries through a: binding death benefit nomination non-lapsing binding death benefit nomination non-binding death benefit nomination, or reversionary pension (can only be selected at the commencement of a MyNorth Pension account). Protected Investment and Protected Growth Guarantees If reversionary is selected in pension, the Guarantee will transfer to the reversionary. Protected Retirement Guarantee If a spouse is selected as a Guaranteed Joint Life the guaranteed income payment will continue with the spouse for their life. Bpay, EFT, cheque, and ad hoc direct debit. (iii) Superannuation only. (iv) Unless otherwise indicated in the MyNorth investment options document or underlying investment option PDS. Registered to Bpay Ltd ABN

22 Investment options Investment options Insurance offered by AMP Without a Guarantee An extensive list of managed funds, managed portfolios, listed securities, exchange traded funds (ETFs), exchanged traded commodities (ETCs), Australian real estate investment trusts (AREITs) and term deposits. With a Guarantee A tailored investment menu is available providing access to three investment strategies: moderately defensive balanced growth. AMP Elevate insurance The cover includes Life Insurance, Total and Permanent Disability (TPD) Insurance, Income Insurance and Trauma Insurance (for MyNorth Investment only). Fees (v) Without a Guarantee With a Guarantee Account fee (vi) $91 pa for MyNorth Super and Pension accounts. $0 for MyNorth Super and Pension accounts with a Guarantee or/and Non-commutable Allocated Pension (NCAP). Administration fee 0% to 0.65% pa of the client s account value the actual rate will vary according to the account s value and the client s choice of investment option. The maximum administration fee (inclusive of account fee if applicable) is: $3,500 per annum for a client s MyNorth investment, super and pension accounts. (where their MyNorth Investment is in the same name as their MyNorth Super/Pension account). $4,500 per annum for a MyNorth family group. Brokerage fee In-specie transfer fee The fees associated with purchasing or selling listed securities. Charged at 0.11% of the total of each listed security purchase or sale subject to a minimum fee of $34. If you use a panel broker (third party broker) a settlement fee of $10.25 applies in addition to any brokerage fees. For a list of approved panel brokers and their terms and conditions, refer to North Online. Transfers in: The cost associated with transferring a listed security (including ETFs or property trusts) from outside of MyNorth to an account, charged at $25.63 per asset per transfer. Transfers out: The cost associated with transferring a listed security, ETF, ETC, AREIT or managed fund from a MyNorth account, to another provider. This is charged at $100 per asset per transfer. N/A N/A Underlying fees and costs for investment options These fees and costs apply to the investment options selected by you and your client. You can find an up-to-date list of the underlying investment option fees and costs reflecting the underlying investment option s PDS disclosure on North Online or in the MyNorth Investment Options document. For detailed information about the underlying fees and costs associated with any particular investment option you should refer to the relevant PDS for that investment option. (v) All fees are inclusive of GST, less any reduced input tax credits, unless indicated. (vi) Account fee is not charged on accounts with a Guarantee or non-commutable allocated pension accounts. 22

23 Fees (v) (continued) Member advice fees Contributions Up to 4.10% of each contribution or rollover as agreed on between you and your client. Initial/ad hoc A one-off fee paid from your client s account to you for financial advice. Ongoing An ongoing fee paid from your client s account to you for financial advice. Listed securities An ongoing dollar-based or percentage-based fee paid from your client s account to you for financial advice for trading listed securities. Guarantee fee Additional investment guarantee fee Amount Protected Investment guarantee: 1.55% to 2.45% pa ongoing depending on the Term and Investment Strategy selected. Protected Growth guarantee: 0.80% to 1.85% pa ongoing depending on the Term and Investment Strategy selected. Protected Retirement guarantee: 2.45% to 3.55% pa ongoing depending on the investment strategy selected and whether it is a single or joint option. If a Guaranteed joint life is selected, the Guarantee fee is 0.80% pa more than a single life Guarantee with the same investment strategy. An additional fee up to 7% of each additional investment made. Calculated at the time of the additional investment depending on the type of guarantee, term, investment strategy and the number of years of your term that have elapsed. (v) All fees are inclusive of GST, less any reduced input tax credits, unless indicated. How and when paid Calculated monthly based on the opening account value on the day the fee is applied and deducted monthly from your North cash account. Calculated monthly on the opening account value on the day the fee is applied and deducted monthly from your account value. No guarantee fee is deducted if your account value has run out. This fee is deducted from your additional investments at the time the investment is made. Reporting Online access Annual member statement Annual Investor Directed Portfolio Service (IDPS)/ Trustee report Account information such as portfolio valuation, transaction history and account performance returns can be viewed at any time through North Online. An annual statement, which includes the current account value, statement of transactions, and account performance summary. An annual report, which includes information on the management and financial position of the fund will be made available each year. Find out more Get in touch with us today at to find out more about how we can help you and your clients to confidently reach your goals. 23

24 Did you know? You can purchase Challenger Guaranteed Annuity (Liquid Lifetime), Challenger Guaranteed Annuity and Challenger CarePlus annuities that are administered by AMP. You can see your client s Challenger annuities as well as their MyNorth accounts on Portal, making it easier to see their retirement portfolio in one place. For more information, see the Challenger annuity page on Portal. Getting in touch phone (North Service Centre) web northonline.com.au/mynorth north@amp.com.au What you need to know NMMT Limited. Consider the MyNorth Super and Pension product disclosure statement (PDS), the MyNorth Investment investor directed portfolio services guide (IDPS), and the AMP Elevate insurance PDS, and your circumstances before deciding what s right for you. AMP companies and representatives receive fees and benefits if you use an AMP product or service, calculated as a dollar amount and/ or a percentage of the price or value of your products and services. Contact us on for more details. The issuer of MyNorth Super and Pension is N.M. Superannuation Pty Limited and the fund is Wealth Personal Superannuation and Pension Fund. The issuer of MyNorth Investment is NMMT Limited. The issuer of the MyNorth Investment Guarantee is National Mutual Funds Management Limited. The issuer of AMP Elevate insurance is AMP Life Limited (AMP Life) and N.M. Super ABN which are part of the AMP group and can be contacted on Challenger Guaranteed Liquid Lifetime, Challenger Guaranteed and Challenger Care Plus annuities are issued by Challenger Life Company Limited (ABN ) (AFSL ). Before making a decision about Challenger annuities you should consider the product disclosure statements available from Challenger at challenger.com.au. AMP Services Ltd provides administration services to Challenger in respect of these annuity products only and is not issuing, selling, guaranteeing, providing custody services or any other function in relation to the annuities /18