Synaptic

Issue 6, November 2009

www.synaptic.co.uk


	Welcome ...to the last edition of The Researcher for 2009. We hope you have enjoyed this additional form of communication, which we started in January. We would be interested to know if you find this useful and what else you would like to see included in 2010. Since the last edition we would like to welcome the following new providers to the software: Cooper Parry, Gilliat Financial Solutions, Exeter Friendly Society, Smith and Williamson Investment Management and Whitechurch Securities Ltd. Thanks again for all the feedback this year, which we hope will continue, and although it may seem a little early, there are only 36 sleeps until Santa is here so we would like to wish you all a very merry Christmas and happy new year. Did you know... ...that the average sum assured for critical illness term contracts over the past six months has been £195,414.50? Over the same period, the average term has been 20.1 years. (Source: Synaptic Insight.) What would you like to know from our Synaptic Insight data? For further details, please contact Anita White, Provider Business Development Manager, on 07826 875982 or anita.white@capita.co.uk. In this edition... Synopsis reports The next scheduled Synopsis report will be based on personal pension plans, and is expected to include more than 10,000 pieces of genuine IFA research. Synopsis discloses the research and selection behaviour of IFAs to give providers a true insight to the effectiveness of their product offerings and includes: Information and commentary on the key stages of product research and recommendation. High level statistics and research volumes for personal pension research. Details of the individual features and sectors being selected by IFAs and importance weightings. Confirmation of the ranking criterion being used to select personal pensions. A detailed grid showing the new business levels achieved by all providers during the last 12 months. This report will give insight into the methods and criteria adopted by advisers subscribing to Synaptic's online research tool, reflecting the basis of selection over the last 12 months. To register your interest, please submit your request via the link below. Should you have any queries, or if you would be interested in a Synopsis report on other product areas, please contact Anita White (Provider Business Development Manager) at anita.white@capita.co.uk or email financialsoftwareresearch@capita.co.uk. Back to the top Hints and tips Adviser platforms - listing wrappers in individual product bases In order to maximise exposure of your product range, wrap providers are able to list ‘wrapper’ types (e.g. ISAs, SIPPs, etc) in the individual product bases as well as listing all services in the adviser platform area of Synaptic. For example, if you offer an ISA through your adviser platform, this can be added to the ISA area of our investment module. This will allow advisers to compare wrap elements with more conventional products. In order to ensure that our users are aware that these products are available through a wrap, we would suggest that this is detailed in the product entry name. Data can be added by using the Update Manager facility and you can discuss this with your dedicated point of contact should you require more information. Back to the top Team news During the Christmas period, our offices will be closed on the 25th and 28th of December, as well as the 1st of January. We are open as normal on Tuesday (29th), Wednesday (30th) and Thursday (31st December) and will return after the New Year celebrations on Monday, 4th January. Happy New Year from all the research team. Back to the top Synaptic data developments We’ve had a great year for launching new product research modules such as locum cover insurance in August and menu based protection earlier this month (see details of the press release in the 'News' section). We are now putting together our data development schedule for 2010 so let us know what you would like us to look into next year. As you know, Synaptic form part of Capita Financial Software along with Quay Software and Webline. In preparation for bringing these three elements even closer together towards our next generation of product planning, we have opted to move to one data supplier for our fund performance data. Synaptic tools have formerly used fund data sourced by Lipper but to better align us with Quay Software we will shortly be moving to Financial Express. This means there will be a short period where Update Manager will be unavailable to you, during which time we will be replacing the funds linked to products sourced from Lipper, with the equivalent funds sourced from Financial Express. Much background preparation has already been undertaken and we are pleased to confirm that over 99% of existing fund links will be carried over. However, in order to assist us with this, once Update Manager is available with Financial Express funds, we would ask you to re-visit any products with fund links and let us know of any further additions or changes you require using the system as normal. This also means that in future, in order to link a fund to a product, you will need to ensure this has been registered with Financial Express and has a CitiCode identifier. Back to the top In the news *Synaptic develops menu based protection research for advisers* Synaptic have added a menu based protection area to their research suite, which enables advisers to compare products offering different elements of life and health cover. The development is in response to an industry-wide push to promote the need for protection, and will allow IFAs to consider products that offer varying levels and types of cover to suit their clients' specific needs. The new area has launched with twelve plans from nine providers, including LV=, Bright Grey, Legal & General and Scottish Provident, amongst others. Capita Financial Software’s Head of Product Management, Simon Thomas, comments: “Advisers are now looking to combine elements of cover from each protection type—whether it be term assurance, income protection, critical illness or unemployment benefit—to ensure that their clients have suitable cover in place should the unexpected occur. "The new service we have developed will help advisers to consider all essential protection needs for their clients." The menu based protection area is available to existing Synaptic users from 5th November. Like existing research modules, comparison is facilitated through product filtering based on client specification. Plans that do not support criteria selected by the adviser are eliminated from the research process. Once the product selection has been narrowed down and a suitable product has been found, full suitability reports can be produced to justify and evidence the recommendation. John Perks, Customer Solutions Director at LV=, has welcomed the new research area, commenting: "LV= is delighted to be one of the providers included in this development. We strongly believe in the value that advisers add, which often involves matching a combination of protection solutions to their clients' needs, and the opportunity created by Synaptic to compare flexible menu plans is a welcome step forward." The announcement is the second protection development launched by Capita Financial Software’s research arm in just three months, following the launch of Synaptic's locum cover insurance service back in August. Back to the top Send this to a colleague This service is supplied exclusively to product providers. If you would like us to add any colleagues to this distribution list, please use this link and complete the form provided. Back to the top

	Capita Financial Software Eaton House, 1 Eaton Road Coventry CV1 2FJ Tel: +44 (0) 2476 632884 Fax: +44 (0) 2476 839701 Email: financialsoftwareresearch@capita.co.uk Web: www.synaptic.co.uk © 2009 Capita Financial Software. All rights reserved. Capita Financial Software, Eaton House, 1 Eaton Road, Coventry, CV1 2FJ. Registered in England number 3136234. Registered office: The Registry, 34 Beckenham Road, Beckenham, BR3 4TU. Part of the Capita Group Plc.