AIOFP partners with moneyGPS on single issue digital advice

The Association of Independently Owned Financial Professionals (AIOFP) has cut another commercial deal, this time a partnership with digital advice fintech, moneyGPS Advice.

The AIOFP told its members on Monday that the partnership “ensures members can leverage new technology by working with an Australian owned FinTech (with both domestic and international clients) that understands advice, delivers it under its own AFSL, and provides a full turn-key solution to help future proof your business by helping you service all client segments”.

“Through this partnership, the AIOFP can support members to take the lead in delivering digitally supported Hybrid-Advice services, which ensures that all relevant client cohorts have access to affordable single topic advice delivered under the moneyGPS AFSL (247344),” the message to AIOFP members said.

Describing how the arrangement will work, the message said that AIOFP members using the service would form a referral relationship with moneyGPS to offer affordable digital single topic advice issued under its AFSL, “with the client ownership being retained by the AIOFP member”.

“Designed for the 90% of Australians who cannot afford comprehensive advice, moneyGPS enables AIOFP members to deliver a fully white-labelled digital solution customised for their business (including their own internal financial and advice services) to specific client groups (i.e., non-advised, groups with low balances, insurance only, millennials etc),” the message said.

“The solution will also provide members AFSLs the ability to better engage and scale their referral partner relationships.”