AMP has entered the digital advice space with the launch of an offer for its AMP Super members.
The company says its new Retirement Health Check service is intended to provide AMP Super members with “…simple, intuitive and secure retirement advice, with no extra fees” and that future release enhancements will include digital insurance advice.
Having only completed the divestment of its distribution networks late last year (see: Entireti Completes AMP Acquisition), AMP says its new digital advice service will provide members with “…an online advice journey to find out when they can access super, how much is enough to retire and an estimate of their income in retirement.”
In what it describes as a ’market-first’, it adds AMP Super members can personalise their desired retirement income goal and then compare it with other key benchmarks including the age pension and ASFA’s Retirement Standards.
According to its launch release, the AMP Retirement Health Check is only the first in a range of digital advice journeys the company is set to launch in the coming months. It says these solutions will cover pre-retirement and post-retirement strategies, including:
- Insurance
- Investment choice
- Superannuation contributions
- Pension management
If members wish, AMP says qualified advisers are on hand at no extra fees to discuss their results and help them take the next best step with their super and retirement planning. “If advice requirements are more complex,” it says, “…a pathway to more comprehensive advice is also available.”
Melinda Howes, AMP Group Executive Superannuation & Investments says: “The Retirement Health Check – the first of our new advice journeys to come to market – recognises that Australians need help navigating a retirement system they often find daunting and overly complex.
“The solution aims to cut through this complexity and provide simple guidance and advice to help our members maximise the retirement income they generate from the super savings they’ve worked hard to build.”
