AMP Goals 360

Why is it that even though essential to life, managing finances turns so many people off? Studies show that on average people who receive financial advice are $70,000 better off and are 10% more likely to save than those who don’t. Yet 44% say good advice costs more than they can afford. AMP’s answer? Goals 360 focuses on customer’s living the life they want – such as pursuing passions, being debt free, and retiring right – not on building wealth. In doing so we’re forever changing the service offered by financial advice.

With AMP Goals 360 customers explore, plan, track, and realise their goals. They work with concierges, and goals coaches – newly introduced at practices to deliver Goals 360 – who help customers ask “what if…?” They receive help from financial advisers who use visual tools and real-time modelling – backed by 120+ hours of supplemental training and support on establishing customer behaviour change and commitment – to see the impact of different decisions on achieving goals. And customers receive Goals Plans with actions – and tools to track progress at home – so they remain clear and motivated. After all, they’re now realising their goals!

Customers taking confident financial action today on the goals they never thought they’d achieve tomorrow. That is our proudest result with AMP Goals 360. With 32 locations delivering the service, we’re already helping 1,988 customers achieve 12,285 goals. Customers are telling us “it takes the financial aspect and puts it into reality” and advisers say “it demonstrates the changes and prospect of achieving goals, which really resonates with clients”. Imagine the possibilities as we make AMP Goals 360 available to more practices in AMP’s network – the largest in Australia. That’s a lot more Australians achieving a lot more goals!

No system, tool, nor human interaction is left unchanged in the shift from traditional financial advice to AMP Goals 360 service. As one of our advisers put it, “this is game changing stuff”. What gives AMP the confidence to implement such a revolution? The results we’re now seeing in market, and the process of co-design that brought us here. So far, in addition to widespread surveys, we’ve held 165 in-person sessions. That’s over 300 hours of in-depth observation, idea and requirement gathering, and prototype testing – with customers and advisers. To make sure all elements – including technology, compliance requirements, document production, and staff training – align systematically, we turned the end-to-end experience into a storyboard. A really big storyboard. It’s a space in which we at AMP can physically immerse ourselves as we design, deliver, and implement the next set of Goals 360 features. Immersion is important as teams realise our own goals at AMP, such as more automated advice production for advisers, and more real-time tracking of goal achievability for customers. For our advice practices, and for our customers we are well on our way to achieving the AMP Goals 360 service revolution.