Milliman and Ignition Wealth announce synergistic collaboration
Milliman Australia Practice Leader Wade Matterson and Ignition Wealth CEO Manish Prasad today announced a global collaboration between their two firms to combine Ignition Wealth’s integrated bank grade white label digital engagement and advice solutions with Milliman’s analytics, data and consulting prowess.
Wade Matterson, Practice Leader, Milliman Australia and Manish Prasad, CEO, Ignition Wealth said, “We are delighted to announce a symbiotic new collaboration between Milliman and Ignition Wealth. Our businesses share a commitment to enrich the advice experience and enable better financial outcomes for every consumer.”
The relationship has grown naturally from multiple synergies including an emphatic consumer-centric focus, growing global footprints and equally matched best in class status as industry leaders.
Prasad is looking forward to the improved client value, saying, “Milliman is one of the world’s leading actuarial firms and the Milliman platform offers the most robust actuarial technology in the market. Underpinning Ignition Wealth’s bank grade enterprise solutions with the Milliman data platform ensures that we deliver world beating digital decision making and advice at scale, with an enviable actuarial pedigree. Our existing and new clients will enjoy tremendous value and be recognised as leading their respective markets.”
The alliance combines Milliman’s quantitative expertise and ability to analyse and understand big data with Ignition Wealth’s digital advice and intuitive user experience to create the next generation of rich goals-based engagement, decision support and advice.
Developing digital engagement and advice solutions based on rich datasets allows complex comparisons. Benchmark data will allow consumers to gain meaningful insight into their position as compared to their peers, to develop a real understanding about normal spending patterns in accumulation and into retirement.
Speaking to the current market, Matterson says, “With global and Australian scrutiny of the financial service industry at an all time high, everyone, especially advice providers, has to change. Increasingly advisers and large institutions need technology that is robust and powerful to help them deliver better outcomes for their clients. Our collaboration will deliver robust digital advice technology to meet this need across multiple markets.”
Ignition Wealth and Milliman share a global view of the advice market; Milliman is well established internationally while Ignition Wealth has extended its core Australian business with a growing European presence based out of Dublin. Unique global intelligence and thought leadership from Milliman data and analysis will inform and support the development of Ignition Wealth’s global multi-language, multi-currency engagement and advice platform.
Prasad continues, “This alliance will greatly benefit our clients’ consumers. Ignition Wealth aims to give people actionable help and advice that suits their circumstances, at the time and in the manner they need it. Starting from a strong basis of understanding, education and knowledge, our ambition is to move to meaningful behavioural change, significantly impacting consumers’ financial outcomes and lifestyles.
“Working in partnership with the world’s leading enterprises, especially those with large client bases, allows Ignition Wealth to make the biggest impact on consumers globally.”
Milliman and Ignition Wealth have begun to design and build a broad spectrum of next generation solutions, with artificial intelligence, machine learning and leading data analytics at the heart of the development roadmap.