Financial Planning
AMP joins forces with US advice firm

AMP will strengthen its goals-based financial advice capabilities through a partnership with a US advice business, collectively working to develop a new wealth management operating system and share intellectual property.

As per a formalised partnership with advice firm United Capital, AMP has made a non-material investment in United Capital as the businesses collaborate in developing a plan to share intellectual property.

"We have known United Capital for some time and greatly admire its approach to advice. It is regarded as one of the most innovative advice businesses in the US, having grown rapidly from start up to more than US$19.8 billion in assets under management," AMP group executive wealth solutions and chief customer officer Paul Sainsbury said.

The partnership aligns with AMP's broader strategy to build on its goals-based advice capabilities, to be further strengthened by the introduction of a goals modelling engine later this year.

The engine will generate personal advice solutions based on customer goals and financial circumstances. It is expected to be fully operational in mid-2018.

Sainsbury added: "Our shared philosophy in helping customers through goals-based advice, together with United Capital's innovative use of the Salesforce platform, creates significant potential for learnings and synergies as AMP implements its new operating and customer relationship systems."

AMP's advice business is in the midst of implementing Salesforce as its new CRM system.

Read more: USSalesforceCRMPaul SainsburyUnited Capital for
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