AMP takeover target, page-43

They also own an SMSF admin business which they acquired for top of the market prices IMO from numerous middle to large sized privately owned smsf specialist firms. Interestingly I am led to believe that a number of the owners of those businesses have subsequently taken their cheques and gone (along with their IP and client relationships). Outside of acquisitions - from my reading between the lines of press releases this business unit looks to be going backwards, despite hiring a bunch of highly paid "experts" and being run by an Actuary.

To add further salt to this wound - they also bought an SMSF software business in the hope that this may improve things. Since then the CTO/Founder of that business has also left and the programs looks to me that it requires $M's to be spent on it to make it competitive in what is now a highly competitive and advnaced market place.

Once again - all IMO and DYOR

NB - They also conveniently/surreptitiously changed the name of this Business Unit away from AMP (maybe they knew what was blowing in the wind) - however the market continues to be very aware of who is behind it. 

The bottom line IMO - SMSF Administration nor Software are core competencies of a business like AMP (or any big financial institution), but more-so a major distraction and serious compliance risk (on top of everything else they have on their plate currently).