The Association of Independently Owned Financial Professionals (AIOFP) has formed a partnership with digital advice fintech firm moneyGPS, giving the 120 AFSL members and their respective 5,000 advisers access to client-led digital advice.
The AIOFP said this partnership allows the association to support its members by giving them the opportunity to deliver a fully digital or hybrid advice service while ensuring that all client cohorts can access affordable, single-topic advice for less than $100.
Furthermore, this strategic decision will allow AIOFP members to deliver this fully white-labelled digital solution under the moneyGPS AFSL, while also providing AFSL members with the option to better engage and scale their referral partner relationships.
The AIOFP said this partnership will allow its members to engage with a wider pool of clients who may not need or be able to afford comprehensive advice without increasing overheads, while still allowing them to retain ownership of the client.
With the goal of delivering a broad range of advice for working Australians, moneyGPS founder and chief executive, George Haramis, said he is pleased to be partnering with the AIOFP and helping their members deliver on this vision.
“Now AIOFP members can benefit from offering their clients and referral partners access to compliant digital advice, including financial wellness programs and online education,” Haramis said.
“MoneyGPS has already secured several national AFSLs as clients and is fully committed to working with the AIOFP to improve the capabilities of its members.”
AIOFP executive director Peter Johnston noted the opportunities this will open up for association members.
“Our relationship with moneyGPS has provided our organisation with the genuine opportunity to offer what our members have been after for a long time – access to personal financial advice at a fraction of the traditional costs for certain client groups,” Johnston said.
“Having the ability to finally offer these clients and referral partners access to affordable personal advice is a significant milestone for their business and for every working Australian.”
Johnston added that the association’s relationship with NEXT RURAL – a service offering succession planning opportunities for the accounting profession – will also benefit from this new partnership.
“The AIOFP is excited about its partnership with moneyGPS as its members can now leverage an Australian-owned digital solution to future-proof their business and help drive better client engagement.”
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