AMP wraps up Coin Software rollout

AMP expects productivity improvements among financial planners to increase 30 percent after completing its largest-ever rollout of financial planning software.

The financial giant said a program was now underway at its AMP Financial Planning and Hillross practices "to help [them] realise the productivity benefits of the new software".

The 30 percent improvements were expected to come from increased automation and were anticipated to materialise in the "medium term".

The software was made by Coin Software, a subsidiary of Macquarie Advisory Services.

The rollout started in March last year, according to industry journal Money Management.

AMP said it had also centralised back-office services for its financial planning practices. Both initiatives were aimed at increasing the amount of time planners were able to spend in front of clients.

In other technology news, AMP Capital Investors said it had successfully negotiated the most complex phase of its technology transformation, which was "already delivering quantifiable benefits".

"AMPCI secured two new credit mandates totaling over $500 million in full year 2009 with new systems noted as a key differentiator by investment consultants," AMP said.

The announcements came as part of the institution's 2009 full year result reports.