AMP sees $1.5bn flow into platforms

AMP platforms saw net cashflows of $1.5 billion for the quarter ending September 30, a 20% jump from the same period last year.

AMP's wrap platform North saw inflows of $3.1 billion and outflows of $1.6 billion during the quarter.

"Our focus in the third quarter has remained on driving growth in our wealth businesses," AMP chief executive Blair Vernon said.

"In platforms, our growing cashflows reflect that more advisers continue to choose North. The new North Interactive Wealth Portal is helping to further support adviser efficiency, while our new AI Implement tool is currently in pilot phase."

The tool is expected to roll out in the fourth quarter of the year.

The superannuation and investment business saw net cash outflows of $138 million during the period, an improvement from net cash outflows of $241 million in 3Q 25.

"Our super and investments business third quarter result reflected the seasonality we typically experience in the second half," Vernon said.

Assets under management for the arm grew to $62.7 billion, reflecting positive market movements partly offset by net cash outflows and pension payments.

During the period, AMP won an employer super mandate and expects to begin implementation in the first quarter of 2027. AMP said this is an important signal of AMP Super's offer in employer super, including its member service, retirement proposition and investment returns.

"AMP Super was recently awarded an Epic Retirement Tick by Chant West, recognising the strength of its products, advice, services and support for members approaching and living in retirement. The launch of the new AMP Super app, earlier this month, will further improve the digital experience for members," Vernon said.