AMP’s digital advice offer records 33-fold increase

AMP Limited is rolling out a further tranche of its digital advice offering noting that over 17,500 ‘Retirement Health Check’ journeys have been completed since January with over 20,000 members engaging with the digital service.

AMP said this meant there had been a 33-fold increase in the number of members getting guidance on their retirement planning from last year.

The company said that three new retirement sub-journeys and a retirement planner would now be rolled out.

It said that for the first time, members would be able to explore how selling their home could help grow their superannuation with downsizer strategy support, as well as tax-efficient recontribution advice.

The company said the three new additions available as standalone journeys are:

• Super Projection: See your potential retirement income and how Lifetime Boost can benefit you (if eligible), what Government Age Pension you might get and whether you’re on track to reach your retirement goals
• Contributions Strategy: Make every dollar count for your future by choosing the right contributions to help your super grow as much as possible
• Investment Strategy: Discover the investment options that best match your preferences and see what switching could mean to your retirement income.

Commenting on the new roll-out AMP Group Executive, Superannuation and Investments, Melinda Howes noted the uplift in the number of members engaging with the service.

“We’ve seen an incredible uplift in the numbers of members engaging with our service and we’ve made some great strides forward with a market-first digital financial advice solution that makes financial advice easier to access and understand for all our members,” she said.

Bravura Solutions Head of Midwinter Advice Products, Michelle Lusty said what is being witnessed is a transformational shift in how Australians access retirement planning advice.

“By collaborating with forward-thinking funds like AMP, we’re helping millions of Australians to engage advice in a way that suits their individual needs, ultimately improving their retirement outcomes while strengthening trust in the system.”