AMP has launched a new scaled advice service for clients which it says is designed to improve access to quality, affordable advice.
The offer, called My Money Choices, is made up of six modules, covering a variety of simple advice needs including superannuation, insurance and budgeting.
Scott Machin, AMP Director of Advice, said the scaled model allowed AMP to provide a simple advice solution for consumers who are worried about a specific financial issue but aren’t prepared to seek comprehensive advice.
People don’t have to think about all their financial needs in one go
“My Money Choices means people can choose how they want to receive financial advice. People don’t have to think about all their financial needs in one go – they can begin by deciding what’s important to them now, whether it’s maximising their super, insuring what matters to them or saving for a comfortable retirement.
“Scaled advice has the potential to bring more advice to more Australians. In circumstances where it is appropriate and suitable for the client’s needs, it is a model that could be embraced by both experienced and new planners,” Mr Machin said.
He added that the program had been developed through consultation with financial planners, customers and ASIC, and had also been through a twelve-month pilot period.
According to Mr Machin, more than 500 AMP financial planners currently offer My Money Choices, with the model to be rolled out to financial planners at AMP Financial Planning and Hillross.
