Fees negotiable on AMP packaged advice
AMP Financial Planning advisers will charge negotiable upfront fees of $200 to $700 for TurningPoint, while AdvicePlus Solutions’ price will be agreed with clients, according to AMP head of advice segments Grant Pearson.
TurningPoint is a “re-skinned” version of CARM’s Guided Planning System (GPS), with assumptions and rules modified by AMP.
CARM chief executive Matthew Lock said although around 500 advisers used GPS under arrangements with planners and dealer groups including Count and PIS, AMP was using the tool to differentiate its client offering.
Lock said CARM had been involved in conducting 23 full day seminars with AMP planners. “The purpose of that is to make sure the software is properly positioned within an overall sales and advice process,” Lock said.
A risk profiler is also in development that will be integrated into TurningPoint and may be offered directly to clients.
There are no plans to offer TurningPoint directly to clients.
Pearson said 250 advisers were already accredited to offer the tool. He expected more than half of AMP’s advisers to be accredited by the end of 2006.
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