AMP Advice offers Frollo to advisers and brokers

AMP Advice is offering its advisers and brokers access to Frollo's open banking and money management app as part of their licensee offer.

The institution said advisers and brokers could brand Frollo's app as their own, and offer it to their clients as a way to create an aggregated view of their finances.

That would offer "visualisations, loan details, budgeting, financial goals and insights" to clients, while also giving advisers and brokers "a user-friendly view of their clients' financial information and circumstances".

AMP adviser director Matt Lawler said the Frollo partnership “is part of AMP’s strategy” to collaborate with fintechs and leverage the benefits of open banking.  

“Technology will play a central role in quality advice to more Australians, and we’re committed to providing our network with access to the latest and the best," Lawler said in a statement.

An AMP spokesperson told iTnews one of the “key advantages” of the arrangement is “it enables advisers and brokers to streamline their advice provisioning, improve efficiency and elevate the advice experience”.

As advisers and brokers can see a client's financial position more easily, it will enable them to identify “opportunities to add value", the spokesperson added.