The Evolve iPad app has been made available to AMP Financial Advice Network (FAN) advisers after an 18-month development process, which the financial services giant claims is a first for the local market.
The app, which features advice tools that are fully integrated with advisers’ back-office systems, will be monitored with a view to making it available to other licensees under the AMP umbrella.
While the willingness of financial advisers to embrace the latest technology has at times been called into question, AMP says it has used pilot groups of both tech-savvy and more traditional advisers to test whether the app assisted them in the delivery of professional financial advice.
AMP FAN’s director of advice and licensing, Simon Wallace, told Professional Planner Online it was inevitable some advisers would respond to the technology quicker than others, but that expected a full take-up over the coming months.
Evolve is linked to the advisers’ software, removing the need to keep separate records or manually re-enter data following a client appointment.
These records can be emailed to the clients as a record of the meeting and the app can also be used while on the phone to clients in remote areas.
“Evolve allows advisers to capture, store and analyse client data on their iPads and brings the paperless office a step closer with the ability to capture digital client signatures as well as store photographs required for client identification,” said Wallace.
The Evolve iPad app features six integrated modules:
1. Clients – allows advisers to create new client profiles
2. Fact find – captures client information and generates initial advice agreement
3. Risk profile – features risk profiling tools
4. Documents – a central location to store documents
5. Calculators – to assist advisers develop and discuss different strategies
6. References – useful links to make finding information more convenient
It is currently only available to the 1530 AMP FAN advisers, which includes those licensed through Charter Financial Planning, Genesys Wealth Advisers, ipac, Tynan Mackenzie, Futuro Financial Services and Jigsaw Support Services.
AMP has a total of 4259 financial planners across Australia and New Zealand but the app is not presently available for those 2044 under the AMP Financial Planning or Hillross banners or the 685 financial planners in New Zealand.
Can you actually create/generate SoAs from this app? If so does it handle complex financial modeling tools?
So, this is like an Xplan app?