Fund data solutions provider FundsLibrary has developed a new and unique online Income Forecaster service for IFAs, Platforms, Wealth Managers and more. The first live user of the service is award winning Wrap Platform Ascentric whose advisers can now create an estimated income schedule, allowing for a level of detailed monthly planning that was never before possible. The tool can also create an income projection for model portfolios.
FundsLibrary powers the functionality that Ascentric’s registered users currently enjoy, including web-tools that build, analyse and x-ray clients’ investment portfolios.
How does it work?
The Income Forecaster accesses FundsLibrary’s yield data to apply an income value against each individual investment within a client portfolio. It then applies calculations based on the value of each investment. Using this information it projects a graphical representation of the income distribution across a twelve month period, based on existing yield and distribution data. This shows the amount paid out based on the individual investment value, and also the month in which the income is paid. A separate graph allows advisers to flex monthly withdrawal amounts giving their clients an indication of how much they can drawdown each month.
The Income Forecaster also displays an at-a-glance summary of the headline figures that clients need to know, including the highest and lowest monthly income and the average monthly value.
Steve Elford, Head of Business Development at FundsLibrary, commented: “The Income Forecaster brings together two distinct sides of our business – excellent quality data and innovative software solutions. The tool is the first of its kind to map the predicted earnings from client portfolios and it presents the data in a beautifully simple manner.”
Ascentric’s Managing Director Jon Taylor commented: “As a client focused business, it’s always great to work with other like-minded organisations. FundsLibrary’s willingness to work so collaboratively has allowed us to deliver a solution that makes a real difference to our clients.”