Synaptic launches retirement and investment switching tool for advisers

26 March 2014

Synaptic Software has launched its new Illustrator tool via Synaptic, to enable advisers to easily compare retirement and investment switching options for clients.

The new tool allows advisers to compare critical yield and maturity values across different types of retirement and investment products.  Advisers can easily assess whether an existing retirement or investment product should be transferred. The tool provides a report on the rate at which the funds that the product is invested into would need to grow at in order to achieve the same maturity value, with the ability to compare both personal pensions and SIPPs within the same report.

Key functions of the new tool include:

  • Total solution cost – the ability to look at individual switching options and then combine those with the holistic picture of investing new monies
  • Ability to align multiple “ceding schemes” so they can be looked at as a whole as well as individually
  • Growth rate override – port and fund level
  • SIPP’s and PP’s returned as one set of results
  • Costs & charges calculator

Adam Byford, Managing Director at Synaptic Software Limited said: “The Synaptic Illustrator tool completes our new, post RDR Synaptic suite, allowing advisers to move from Attitude to Risk and Risk analysis, Platform, Product and Fund Research, investment switching and Protection. The ability to switch pensions and investments central to much of the profitable business transacted by professional advisers, who have traditionally invested heavily in software solutions that provide analysis and reporting to assist in this process.

Following the recent budget statement the focus is once again on pension pots and the importance of maximising ‘at retirement’ provision, given the flexibility available from 2015 upon vesting. Synaptic Illustrator is designed to provide advisers with the data they need to build a compliant switch process for investments and non occupational pension plans.”

 

For a free trial or further information please e-mail sales@synaptic.co.uk