Australian financial services firm AMP has partnered with American advice firm United Capital as it builds a new wealth management operating system.
Under the agreement, AMP will make a non- material investment into the US firm and will also share intellectual property.
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The new operating system is expected to be operational in the first half of 2018. As part of the system, the firm will roll out a goals modelling engine later in 2017 that will offer tailored advice solutions in line with customer goals and financial circumstances.
Meanwhile, the advice arm of AMP is deploying the customer relationship management system of Salesforce.
AMP group executive wealth solutions and chief customer officer Paul Sainsbury said: “We have known United Capital for some time and greatly admire its approach to advice. It is regarded as one of the most innovative advice businesses in the US, having grown rapidly from start up to more than US$19.8 billion in assets under management.
“Our shared philosophy in helping customers through goals-based advice, together with United Capital’s innovative use of the Salesforce platform, creates significant potential for learnings and synergies as AMP implements its new operating and CRM systems.”
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