A new advice modelling engine has been developed to help Australians plan, track, and achieve their goals.
AMP today launched a new goals-modelling engine, creating the most sophisticated and contemporary advice experience in the industry.
The engine represents a major step forward in AMP’s goals-based customer strategy.
Now part of AMP’s Goals 360 experience delivered through AMP Advice, the engine provides customers with clarity on how the choices they make today impact their ability to achieve their goals over time.
Purpose-built stochastic modelling, developed with leading analytics and technology firm Milliman, factors in economic and market conditions to generate advice strategies to provide customers a projected achievability of their goals.
Tailored cashflow, debt, wealth protection and other wealth management advice strategies are generated in real-time and presented through a seamless, interactive digital experience, developed using human-centred design.
“We’ve custom-built the engine around goals because we know that when delivered well, goals-based advice transforms the lives of our customers" - Paul Sainsbury
AMP’s Group Executive Wealth Solutions & Chief Customer Officer, Paul Sainsbury, said the launch of the modelling engine is a landmark moment for the financial advice industry and the latest step in AMP’s transformation of the goals-based advice experience.
“The engine is the culmination of a multi-year investment program to build AMP’s advice capability of the future,” commented Mr Sainsbury.
“We’ve custom-built the engine around goals because we know that when delivered well, goals-based advice transforms the lives of our customers.
“The engine now forms an integral part of AMP’s Goals 360 – a contemporary advice experience for advisers and their customers.
“Underpinned by the latest in financial modelling capability, the engine demonstrates to customers in a visual and engaging way how the choices they make today impact the ability to achieve their goals over time.
“For advisers, it supports richer conversations and helps build stronger relationships with their clients. The engine also creates a more efficient process for advisers – reducing their cost to serve and allowing for ease of compliance.”
The goals engine is being progressively rolled out to AMP Advice practices from this week.