AMP Goals 360 has won another award, this time from Chant West at their ceremony in Sydney last night, following a gong from the Good Design Awards earlier this month.
AMP Goals 360 was named Best Fund: Innovation for 2018.
AMP Goals 360 is an interactive goals-based advice platform with a completely new, visually engaging experience. Underpinned by sophisticated modelling technology, AMP Goals 360 helps advisers and their customers explore, plan, track and achieve their goals.
“In our view, it’s the most exciting development the advice industry has seen, with the potential to revolutionise the way advice is delivered,” Chant West said when announcing the award.
Currently, there are 28 practices across 32 locations in the AMP Advice network who use AMP Goals 360 to deliver advice. The custom-built technology is one of the most innovative tech-enabled advice propositions in the market.
“In our view, it’s the most exciting development the advice industry has seen, with the potential to revolutionise the way advice is delivered."
AMP Goals 360 delivers a dramatically different advice experience which takes goals-based advice to the next level. Rather than filling out a lengthy fact-find, customers spend time with a goals coach, using a highly engaging digital interface to identify their financial goals, prioritise those goals and set timings for each one.
The AMP Goals 360 advice engine uses stochastic modelling to calculate the probability of achieving each goal. “Unlike most stochastic models, however, AMP has come up with a simple graphical way to show the likelihood of achieving each goal,” said Chant West.
“The customer can then make trade-offs in financial decisions, with the engine calculating in real time, the impacts on achieving each goal. Through this process the customer arrives at a plan that’s realistic and that they’re comfortable with. The modelling also enables the customer and their adviser to periodically return to track their progress against each goal.”
It’s a highly personal and interactive experience supporting customers in making better financial decisions – all with the expert help of an adviser.