Australian investment manager AMP has introduced a new financial advice business that will combine interactive technology with personalised advice to assist clients in planning their goals.
The new business, known as AMP Advice, is developed to make goals-based advice more accessible to more Australians.
Customers will work with goals coach to indentify goals from a list of 29 identified by AMP's research. They can also identify their goals by using AMP's new Goals Explorer technology.
Clients can also use AMP's My Money Style solution to find out their spending behaviours and risk appetite, and Advice Explorer to develop financial planning.
AMP Advice will integrate with an array of other AMP goals initiatives, which is due to launch in the second half of 2016. The initiatives include AMP Bett3r Account that will help clients in managing and optimising income through retirement.
AMP group executive advice and banking Rob Caprioli said that the purpose of AMP Advice is to make goals-based advice more accessible to the 80 per cent of Australians who don't currently have a relationship with a financial adviser.
"When delivered well we know face-to-face financial advice improves the lives of our customers.
"We also know the concept of personal goals has long been the foundation of the most effective financial advice. This principle has driven the development of AMP Advice, through which goals frame every aspect of the advice process," Caprioli added.
Currently 11 AMP Advice practices have been located in Australia, with between 20 to 30 expected to be operational before the end of2016.
Additionally, the investment manager has hired David Akers as managing director to lead AMP Advice as it expands its national footprint.
He will report to Caprioli. Prior to this new role, Akers served as director of future of advice business solutions at AMP.