AMP has announced two key changes to the North platform around streamlining Records of Advice and the Lifetime Super Calculator.

ROAs

AMP has enhanced its ROA preparation process, which will help advisers save time, improve data accuracy, and better show the impact of investment switch transactions.

The ROA template contains pre-formatted tables and charts detailing current and proposed investment holdings and a summary of fees, portfolio valuation, and asset allocations.

Advisers can now include their clients’ proposed target risk profile when performing an investment switch, while proposed asset allocation can be reviewed against the client’s risk profile and determined if in line with the client’s investment strategy.

The simplified ROA process also collates switch transaction information from a single touchpoint in North, without resorting to external software or templates.

The embedded functionality reduces the time required to prepare a ROA, allowing advisers to view proposed tax implications before switch execution. Capital Gains Tax data is included onscreen under a new tab and can be easily exported for each client.

Lifetime Super Calculator

The second enhancement is an improvement of the MyNorth Lifetime Super Calculator. It now forms part of North’s suite of retirement solutions.

The calculator allows advisers to help clients improve their retirement savings by recommending strategies to maximise Age Pension benefits, Centrelink asset test discounts and structure capital in the accumulation phase to help clients better prepare for retirement.