AMP SMSF has acquired Justsuper, a SMSF specialist business which has approximately 1000 funds under administration, to increase its market share in Australia’s $500bn SMSF sector.
AMP SMSF managing director Natasha Fenech said the deal is consistent with the business strategy to build market share and efficiency in scale.
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Pursuant to the acquisition, Justsuper will continue to operate under its own brand name and with its existing team of employees.
Also, Stephen Doulgeridis, CEO of Justsuper, will become member of the AMP SMSF leadership team and report to Fenech.
"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," Fenech said.
Doulgeridis said: "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."
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