AMP is launching a range of enhancements to North’s online functionality, benefiting all advisers and clients using its MyNorth and North wrap platforms.
The changes further improve administrative functionality allowing for quick and easy access to client statements, more streamlined client correspondence, and the setting of dollar-based targets for client cash accounts. The enhancements take effect from 25 November 2019 and follow a period of consultation and testing with advisers.
Phase two of MyNorth’s Fee Calculator has also launched with advisers now able to assess multiple account fees and create investment templates for clients. The calculator has proved popular with advisers since its initial launch in September this year.
Lara Bourguignon, AMP’s Managing Director Superannuation, Retirement & Platforms, said:
“Seamless administrative functionality, access to diverse, contemporary and best in market investments, together with low cost, are the three attributes we know advisers and clients value most in a wrap platform.
“This year AMP has made major investments and enhancements in all three of these areas for its flagship MyNorth wrap platform.
“MyNorth’s fees were reduced in May benefiting more than 87,000 clients, we’ve expanded and strengthened our MyNorth managed portfolio and investment offers, and we’re now making these technology improvements.
“The investment in MyNorth will continue, with further enhancements and new investment offers in the pipeline.”
MyNorth fee calculator
Following its launch in September this year, AMP’s MyNorth Fee Calculator has received a substantial upgrade. New features include:
- Advisers are now able to dynamically re-sequence accounts to see the effect of different date ordering on individual account fees, and
- Investment templates can be created, making data entry simple and efficient.
Easier online navigation and information access
- A range of online navigation and useability improvements, based on feedback from advisers and clients, will make North Online more intuitive and easier to use. These include:
- All new client and account menus to better align with common client management tasks
- Simpler switching between a client’s accounts using the new ‘Account Selector’ function
- Activity tracking, client statements and a client review report will be accessible at an account level
- An enhanced client account page to show advisers if their client is linked to a family fee group, if they have online transaction access and the date an account was closed
- NorthCHAT will be located at the top of every page so it’s accessible from anywhere on North Online, and
- Investment information will have its own group on the main menu and restructured product pages will make it clearer and easier to access important information.
Greater flexibility in managing cash strategies
Advisers will have the ability to set cash account dollar targets, providing greater flexibility when implementing client cash strategies, including:
- The ability to specify a dollar amount to cover annual pension payments through the cash account, and
- Enabling easier cash management when a client’s account is receiving regular contributions through super.
Further information on the changes, and the range of enhancement made to MyNorth in 2019 is available here.
MyNorth’s new fee calculator is available here.