THe facts on cashflows into north…….
the good news is that comparing the quarters shows that net cashflows for overall platforms has improved. The bad news is that both gross and net inflows were worse even with the increase from EFAs. This tends to support the view that at least some of the funds are coming from departed advisers rather than new users.
‘’And if you deduct the EFA inflows, it means that the amp adviser network is in net outflows for platforms.
North is now a good product and well priced but it is hard for it to get traction outside of the amp network.
AMP Advice and Wealth, page-239
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