Ascentric’s Income Forecaster Supports Financial Advisers in the ‘Post-Retirement’ Era
22 September 2016
Ascentric, one of the UK’s leading wrap platforms, has today launched an interactive tool called the Income Forecaster, designed to help advisers assess the projected income of any portfolio.
With the introduction of pension freedoms, retirement has become more complex with people having lots more choice on how their retirement is structured. Gone are the days of straight forward defined benefit pensions or people buying an annuity at retirement.
With the new retirement landscape, the need for post-retirement advice is more important than ever. People need a lot more help which is why Ascentric has come up with the Income Forecaster to help advisers to see a client’s income options in a new and clear way.
In association with FundsLibrary, Ascentric is the first adviser based platform to offer this service, providing advisers with an interactive and visual tool to highlight the level of income which could be generated by a portfolio.
The Income Forecaster allows advisers to analyse portfolios, forecasting how much income could be generated on a monthly and annual basis.
Based on data from FundsLibrary, the Income Forecaster analyses the published yield data across the portfolio, providing an estimate of the likely future income.
With the arrival of pension freedoms and a persisting low interest/low yield market, advisers have seen an increased focus on managing clients income. Using the Income Forecaster, advisers are able to review and adjust to a client’s income requirements, providing a visual illustration of income amounts, payment frequency and the impact ad hoc withdrawals would have on the overall income generated.
Jon Taylor, Managing Director of Ascentric, said:
“In the current environment of low interest rates it is increasingly important that advisers and clients have access to the right information to help navigate the challenges they face. The demand for generating income has never been higher and the Income Forecaster is an important step towards helping advisers better communicate how income can be generated for their clients.”
Commenting on the importance of advice in the ‘post-retirement’ era, Jon Taylor, added:
“Gone are the days of relatively inert retirement income strategies, based around an annuity or final salary pension scheme. Advice in the post-retirement phase has never been more important as the solution will inevitably require the expertise of a professional to find yield within appropriate risk parameters. Proactively managing portfolios across multiple tax wrappers, and delivering a tax efficient income as and when needed by the client is crucial in the current climate.”
Commenting from an adviser perspective, Chris Hughes, Director of Crystal Wealth Management in Bristol, said:
“For me, the key benefit of the Income Forecaster is that it simplifies the conversation with clients about their income. By visualising the income stream, it really helps to educate them on the nuances of their arrangements such as the timing of payments and the impact of withdrawals in a way that words alone can’t always do.”
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07919 170 863
About Royal London:
Royal London is the largest mutual life, pensions and investment company in the UK, with Group funds under management of £87.9 billion. Group businesses provide around 9.1 million policies and employ 3,051 people. (Figures quoted are as at 31 March 2016).
Ascentric, IFDL and Fundsdirect are trading names of Investment Funds Direct Limited (IFDL).
Investment Funds Direct Limited was founded in 1982, and Fundsdirect launched as the UK’s first online fund supermarket in December 1999. Since that time, the company has built on its reputation as a leading UK fund supermarket to provide Financial Advisers with a Wrap platform under the brand name of Ascentric. It provides a full white label solution for institutional clients requiring bespoke technology and administrative services.
Ascentric is a Wrap platform, available exclusively to financial advisers and offers a fully integrated online investment management and dealing platform. It also enables advisers to transfer their clients’ assets onto a single platform to provide them with the ability to manage their client’s financial needs in just one place.