AMP says its new financial advice business, AMP Advice, will use Goals Explorer interactive technology.

Clients can choose from 29 popular life goals identified by AMP research, or create ones specific to their circumstances.

Practices will also use My Money Style, an application that reveals customers’ behaviour with money and their risk appetites, and Advice Explorer scenario modelling.

There are 11 AMP Advice practices nationwide, expanding to 20-30 before the end of the year.

The AMP-owned Ipac dealer group is transitioning to the model, with five locations now operating as AMP Advice.

David Akers has been appointed MD AMP Advice, moving from the position of AMP director of future of advice business solutions.

AMP’s other aligned licensees – Hillross, Charter and AMP Financial Planning – will continue operating under their brands and structures.

AMP Group Executive Advice and Banking Rob Caprioli says the implementation follows an extensive period of testing and feedback from AMP’s aligned adviser network and customers.

“We also know the concept of personal goals has long been the foundation of the most effective financial advice,” he said.

“This principle has driven the development of AMP Advice, through which goals frame every aspect of the advice process.”

Mr Caprioli says the new dealer group shows AMP’s commitment to its advice network.

“We are continuing to invest in technology and systems that will benefit all our advisers, allowing them to spend more time with more customers,” he said. “We also recognise that to deliver more advice we must operate to the highest standards of professionalism.”

He says more initiatives to expand customer services will follow this year.

These include a holistic insurance offering, the AMP Bett3r Account, which helps customers simplify their finances, and a solution to help manage income through retirement.