AMP NZ

What AMP NZ does

AMP NZ is a New Zealand-headquartered, wholly-owned subsidiary of Australian-listed AMP Limited (ASX: AMP), operating as a multi-product wealth management and insurance distribution platform for New Zealand residents. Its core offering centres on the AMP KiwiSaver Scheme, AMP Managed Funds, the AMP Investment Trust, and the New Zealand Retirement Trust (NZRT), collectively holding more than $11 billion in assets under management. The company follows a deliberate low-cost index-fund investment approach (in place since 2021) that has delivered 12.1% three-year returns on the Growth Fund, beating industry average across 1, 3 and 5-year periods, and charges a $23.40 annual KiwiSaver membership fee with no performance fees on funds.

The business is built on a dual product and distribution architecture. On the product side, AMP NZ complements its managed-investment suite with car, home, contents and landlord insurance underwritten by Vero Insurance New Zealand Limited, term deposits provided by Heartland Bank, and a UK Pension Transfers (QROPS) offering. On the distribution side, it operates direct digital channels (amp.co.nz, the MyAMP mobile app and WealthView), an inside-sales phone team, employed financial advisers, and a workplace-adviser channel targeting employers and employees. Recent product additions include a Retirement Coaching Service (2025) and an AI-powered chat feature in MyAMP (November 2025), both supported by an organisation-wide Responsible AI Framework. The firm holds Financial Advice Provider licence FSP38082 from the Financial Markets Authority and complies with the NZ Privacy Act 2020.

Commercially, AMP NZ earns revenue predominantly through AUM-based management fees, supplemented by insurance distribution commissions on Vero-underwritten policies, referral fees from Heartland Bank term deposits, and (in some product lines) no direct advice fees to customers. Its principal customer segments are individual New Zealand retail customers seeking retirement savings and insurance, and employers and their employees reached through workplace-adviser engagements and KiwiSaver schemes. Products and services are restricted to New Zealand residents living in New Zealand. There is no public revenue disclosure, but AUM scale and a headcount of 101–250 employees are consistent with a mid-to-large NZ financial services franchise operating within a larger trans-Tasman group.

Name

AMP NZ

Legal name

AMP Services (NZ) Limited

Website

https://amp.co.nz

Company type

Private

Founded year

1854

Operating status

Operating

Headcount range

101–250 employees

Short description

AMP NZ is a New Zealand wealth management and insurance distribution platform offering KiwiSaver, managed funds, superannuation, and insurance products to NZ residents, operating as a wholly-owned subsidiary of ASX-listed AMP Limited.

Ownership category

akta.pro rank

Product category

Wealth Management and Insurance

NAICS

Funds, Trusts, and Other Financial Vehicles (525), Other Financial Vehicles (52599), Pension Funds (525110)

SIC

Investment Advice (6282)

akta.pro primary industry

Registered Investment Advisor (RIA) Wealth Management (FSAEABAA)

akta.pro secondary industries

Pension Master Trusts, Superannuation & Provident Funds (FSAAAGAB), Investment Management Advisory (RIA) (FSAEAAAB)

Keywords

• Retirement savings schemes
• Wealth management services
• General insurance products
• Managed investment funds
• KiwiSaver scheme management

Headquarters

HQ city

Auckland

HQ country

New Zealand

HQ region

Oceania

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure

Revenue model

1. KiwiSaver Management Fees: AMP earns management fees from the AMP KiwiSaver Scheme, with $23.40 annual membership fee plus investment management fees. They manage over $11 billion in total assets across their investment schemes.
2. Managed Funds Management Fees: Revenue generated from managing AMP Managed Funds portfolios, with low fees and no performance fees charged. Funds include Australasian Shares, Balanced, Conservative, Dynamic, Emerging Markets, Global Fixed Interest, International Shares, NZ Fixed Interest, and Cash Funds.
3. Insurance Premiums: AMP sells insurance products (car, home, contents, landlord insurance) underwritten by Vero Insurance New Zealand Limited. Insurance policies generate premium revenue through their distribution partnership.
4. Financial Advice Services: AMP NZ provides financial advice on savings, investment and retirement savings products at no charge to customers. Financial advisers and nominated representatives are remunerated by salary and may be eligible for annual bonuses based on balanced scorecard factors.
5. Term Deposits Distribution: AMP provides access to Term Deposits provided by Heartland Bank, earning distribution fees or referral fees for directing customers to Heartland Bank for term deposit products.

Pricing tiers

Go-to-market motion3 records

Distribution channels6 records

Marketing channels8 records

Core offering

AMP NZ provides KiwiSaver retirement savings schemes, pooled managed funds, employer-sponsored superannuation (NZRT), term deposits, and general insurance products (car, home, contents, landlord) to New Zealand residents. The firm manages over $11 billion in assets and distributes its offerings through direct digital channels (MyAMP app, WealthView, website), financial advisers, workplace advisers, and partnerships with Vero Insurance (underwriting) and Heartland Bank (term deposits).

Product overview

AMP NZ operates as a comprehensive financial services platform offering a multi-product portfolio centred on retirement savings, investments, and insurance. The core offering includes the AMP KiwiSaver Scheme (retirement savings with $11 billion AUM), AMP Managed Funds (pooled investments with no lock-in), NZ Retirement Trust (employer-sponsored superannuation), and AMP Investment Trust. These are complemented by insurance products (car, home, contents, landlord) underwritten by Vero, and Term Deposits provided by Heartland Bank. Digital access is provided through MyAMP (online portal and mobile app with AI chat) and WealthView platforms. The company also offers a Retirement Coaching Service and UK Pension Transfer (QROPS) options. The portfolio is delivered through direct channels, workplace advisers, and financial advisers, with some complex advice referred to related entity AdviceFirst.

Differentiator

Problem solved

Functional benefit

Brands

• MyAMP: Online investment service hub for KiwiSaver, Managed Funds, Term Deposits & NZRT
• WealthView
• AdviceFirst
• enable.me

Products and services

• AMP KiwiSaver Scheme AMP's flagship KiwiSaver retirement savings scheme offering multiple fund options (Growth, Balanced, Conservative) with over $11 billion in funds under management. Members can contribute regularly, top up, and access funds for first home purchase or retirement.
• AMP Managed Funds Pooled investment funds with no lock-in period, low fees, and no minimum investment requirement. Offers diversified fund options including Australasian Shares, Balanced, Conservative, Dynamic, Emerging Markets, Global Fixed Interest, International Shares, NZ Fixed Interest, and Cash Funds.
• NZ Retirement Trust (NZRT) Employer-sponsored superannuation and retirement savings scheme with multiple investment options and retirement benefit access.
• Term Deposits Term deposit investment products provided by Heartland Bank, offered through AMP's investment platform as an additional savings option.
• AMP Insurance Insurance products covering car, home, contents, and landlord coverage. Underwritten by Vero Insurance New Zealand Limited. Includes AMP Everyday Plus and AMP Home Plan product lines.
• AMP Investment Trust (AIT) Investment trust offering unitised investment options across various asset classes.
• SIP/PRP (Savings and Investments Portfolio / Personal Retirement Plans) Personal retirement plans with unit prices and historical performance data across multiple fund options including Australasian Shares, Balanced, Conservative, Dynamic, Emerging Markets, Global Fixed Interest, International Shares, NZ Fixed Interest, Cash, and NZ Shares funds.
• AMP Retirement Coaching Service Retirement coaching service focused on retirement planning needs, including investment planning services with retirement modelling and holistic financial discussions covering property, mortgages, cash flow, and insurance. Delivered through AMP Coaches.
• AMP UK Pension Transfers (QROPS) UK Pension transfer service allowing eligible individuals to transfer UK pension funds into AMP's QROPS (Qualifying Recognised Overseas Pension Scheme) arrangements.

Quantifiable outcome

• 12.1% 3-year returns for AMP Growth Fund as at 31 March 2026, beating industry average across 1, 3, and 5-year periods
• +3 more outcomes

Segments4 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

AI capability5 records

Feature4 records

Partnerships

Four partnerships are on record, tiered minor and core.

• Heartland BankminorChannel Partner/ Reseller/ DistributorAMP NZ has a partnership with Heartland Bank to provide Term Deposits to AMP customers. AMP acts as a distribution channel offering Heartland Bank's term deposit products to its customer base, extending the range of savings products available through the AMP platform.
• Vero Insurance New Zealand LimitedcoreChannel Partner/ Reseller/ DistributorAMP NZ distributes insurance products (car, home, contents, landlord) that are underwritten by Vero Insurance New Zealand Limited. Vero handles underwriting assessment and policy administration while AMP markets and sells the products through its distribution channels. Insurance applications are subject to Vero's standard underwriting criteria.
• AdviceFirst LimitedcoreStrategic or Co-development PartnerAdviceFirst Limited operates the AdviceFirst and enable.me brands and is part of the AMP Group in New Zealand. AMP NZ refers customers with more complex financial advice requirements to AdviceFirst. AdviceFirst provides broader financial planning services including cash-flow planning, mortgage strategies, and comprehensive financial advice that AMP NZ is unable to provide.
• MorningstarminorOthersMorningstar provides investment performance data and reporting for AMP's KiwiSaver funds through their Morningstar KiwiSaver 360 Quarterly report, used as the source for AMP's published fund performance figures.

Scale indicators4 records

Recent moves6 records

Expansion highlights5 records

Broad incumbents

• ANZ Investments: Banking group's KiwiSaver and investment arm; one of the largest KiwiSaver providers by members. Comparable to AMP on KiwiSaver Scheme and managed funds, but embedded within a broader banking franchise.
• ASB Bank (KiwiSaver): ASB's KiwiSaver and managed funds business, leveraging the bank's retail branch and digital channels. Directly comparable to AMP on KiwiSaver Scheme, workplace distribution via employers, and managed fund offerings.
• Westpac NZ (KiwiSaver): Westpac's NZ KiwiSaver and investment products business. Comparable to AMP on KiwiSaver, employer schemes, and retail investment offerings; benefits from bank branch distribution that AMP lacks.

Direct peers

• Milford Asset Management: NZ-based active investment manager offering KiwiSaver, managed funds, and investment advice. Directly comparable to AMP on KiwiSaver and managed fund competition, with similar active-management heritage but differentiated fund range.
• Fisher Funds Management: One of New Zealand's largest specialist KiwiSaver and managed funds providers, competing head-to-head with AMP across retail KiwiSaver, growth/balanced fund categories, and workplace distribution. Directly comparable on product mix, AUM scale, and customer segments.
• Booster Investment Management: NZ KiwiSaver, superannuation, and managed funds provider serving both individual and employer segments. Directly comparable to AMP across core KiwiSaver Scheme, workplace distribution, and retail managed fund products.
• Kiwi Wealth (now Fisher Funds): NZ KiwiSaver, KiwiSaver Scheme, and investment products provider (acquired by Fisher Funds in 2024). Comparable to AMP across the full KiwiSaver, managed funds, and retirement planning product set.

Emerging players

• Smartshares: NZ's largest issuer of exchange-traded funds and a low-cost KiwiSaver Scheme provider owned by NZX. Comparable to AMP on KiwiSaver and managed funds, with a strongly passive/ETF-led proposition that competes on fees.
• Generate KiwiSaver: NZ KiwiSaver and managed funds specialist with focus on diversified and responsible investment options. Directly competes with AMP in KiwiSaver, particularly with members prioritising ESG/sustainability factors.
• Simplicity: Low-cost NZ KiwiSaver and investment fund manager that has disrupted the market with aggressive fee compression. Comparable to AMP on KiwiSaver and managed funds, but with a passive-only, ultra-low-fee model that pressures AMP's pricing.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/AMPNewZealand
• LinkedInlinkedin.com/company/amp-services-nz-ltd
• Instagraminstagram.com/amp_nz

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Subsidiaries1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about AMP NZ