Consolidation And Switching Tool

The first, and currently the only tool in the market that can undertake switch analysis on multiple wrapper types at the same time. The ability to do this is obviously critical for comparing charges when switching or consolidating assets onto a single platform. The key features of this unique tool (too numerous to cover all here) include:

  • Can be used for single wrapper switches (e.g. a pension switch, drawdown switch, or an ISA switch) or multiple wrapper consolidation (e.g. consolidating unwrapped collectives, ISAs and pensions from different providers/platforms all onto a single platform).
  • Can accommodate details of existing arrangements even when these have been illustrated at different time periods and/or different growth rates and with different investment funds.
  • Will calculate projections for existing arrangements where illustrations are not obtainable.
  • Can take into account existing arrangements with multiple fund or asset specific growth rates.
  • Compares projected fund values, critical yields, RIYs, early transfer values and death benefits
  • For pension switches the tool also;
    • – compares PCLS and undertakes an RU64 analysis against a generic stakeholder product,
    • – pre-populates the FCA pension switching template,
    • – incorporates a much-simplified method for handling the treatment of inflation,
    • – takes into account any former protected rights and any PCLS protection,
    • – has a ‘build your own pension’ facility so that any bespoke plans can be added into your comparison results,
    • – provides ability to record any benefits or guarantees that might be lost on transfer.
  • Allows for adviser remuneration that can be set at differing levels for existing plans left in situ vs plans that are switched.
  • Enables each existing plan switch to be considered in isolation, as well as considering the result if all plans are switched.
  • If regular contributions are involved the tool calculates the results if the whole plan is switched including regular contributions, and also the results if the existing plan is left paid-up in situ and the regular contributions are redirected to the new arrangement.
  • Calculates and compares the charges applicable to both on and off-platform solutions as required by FCA PS11/9.
  • Includes the charges of your investment portfolio as applicable to each platform, taking into account share class variances (as required by FCA DP10/2). The tool reflects any exclusive or semi-exclusive share classes and any unit rebates. Insured/mirror funds can also be included for life company solutions.
  • Adjusts results to take account of any special platform pricing deals that have been negotiated.
  • Includes any transaction charges that might be incurred for switching/rebalancing and includes ETFs and Investment Trust transaction charges.
  • Accommodates any DFM and DFM portfolio, combining both DFM and platform charge if required.
  • Facility to build you own platform to reflect any bespoke platform arrangements you may have.
  • Accommodates your adviser charging; initial and ongoing, fixed £ fee, % fee, tiered fees.
  • Allows for existing/connected platform accounts.
  • Tool output can be in either Word of pdf format, and can include your adviser logo.

Back