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Defaqto launches new pension switching tool

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The new tool will allow advisers to provide clients with research-backed intelligence – ensuring compliance around pension switching decisions

Defaqto, the independent financial information business, has announced the addition of Pension Switching to its end-to-end financial planning tool, Engage Core.

Defaqto Pension Switching helps advisers to deliver suitable advice and is designed to bring consistency to advisers and their clients across the pension switching process. The new functionality is an optional module that allows advisers to compare multiple pension switching scenarios, including partial switches, in an efficient and compliant way.

The tool offers integrated risk profiling and product, fund and platform research functionality, providing unprecedented levels of detailed insight to advisers and their clients.

By collating the functionality they currently rely on into one, easy-to-use solution, advisers benefit from a unified methodology across their entire advice process. Advisers will also save time by reducing requirements around re-keying the same information across multiple systems. Engage Core’s pension switching module is fully integrated with Defaqto’s risk profiling, product and platform research, fund selection, suitability reporting and ongoing review functionalities.

Advisers can select from over 800 Defaqto risk-rated funds and managed portfolio services or choose their own central investment proposition.

Commenting on the launch, Paul Dagley-Morris, Chief Technology Officer at Defaqto, said: “We’re incredibly excited to bring this expanded offering from Engage Core to the market and look forward to working with the advice community to ensure its full benefits are delivered.

“A streamlined process will improve efficiency in DC pension switching, allowing advisers to provide better client outcomes, reducing costs and time spent on the switching process. Our aim is to ensure that advisers have access to the highest level of insight and technological capability required to help clients navigate the pension switching journey successfully.”

To find out more about Defaqto Engage and its pension switching capability please go to:   https://defaqto.com/advisers/engage/pension-switching/?utm_source=press%20release&utm_medium=referral&utm_campaign=Pension%20switching%20campaign%20January%202020

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