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Extraordinary Skill Set

Of course we have actuarial and accountancy skills. We have talented web and database developers. We work with multi award winning IFAs. But creation of the new tool has needed more than this...much more.

Looking outside

To achieve what we have done with the new tool we have needed to apply different and innovative ways of thinking. We have had to look both within and outside of the Financial Services sector in order to solve some of the seemingly insurmountable challenges faced when building a high performance comparison tool that handles complex, multi-dimensional comparisons.

Doing things that other tools don’t do

We wanted the new tool to do things that no other tools can. Like being able to compare any permutation of tax wrapper providers within any platform (over 1,700 permutations) and being able to compare more than one class of a fund in a single comparison.

As most platforms now have stepped or tiered charging/discount structures, the ultimate charge is highly dependent on assumed growth rates. In our view, one projection rate is just not sufficient to support compliant decision making. We therefore wanted the new tool to use all six growth rates, as prescribed by the FSA.

As the ultimate platform charge depends on the total value invested in all of the tax wrappers being considered we also wanted the tool to show a single consolidated set of projections that take into account the whole investment. Stand-alone tax wrapper projections illustrate only part of the picture; not enough for compliant decison making.

Building bridges

The mathematical and processing challenges of calculating consolidated projections for up to 1,700 tax wrapper permutations at six different growth rates are considerable. That is why when we were putting together our team, we were looking for people who were used to solving complex mathematical problems involving millions of parallel calculations. Our lead developer, for example, has experience of analysing the real-time stress forces in some of the world’s largest suspension bridges, where he has had to find the most efficient way of processing a very high number of complex and interlinked algorithms in a way that did not adversely impact processing performance. We have adopted some of these techniques when designing our new tool.

Life and death security

Our new tool enables advisers to store details of clients, charges, portfolios and comparisons undertaken. The ability to store such data brings with it the need for the highest security. When designing and implementing the security of our site and databases we have applied Financial Services best practice. We have also drawn on the team’s experience of running high security IT networks and databases in the UK’s armed forces and at the Aldermaston Atomic Weapons Establishment, where the effectiveness of data security can literally be a matter life and death.

Award winning adviser input

We have also had very high quality multi-award winning IFA input into the design and technical advice considerations of the tool. This has been particularly valuable in linking together a product comparison tool with pension transfer analysis. Several members of our IFA team have had public recognition of the quality of advice provided. Our lead IFA has won several Institute of Financial Planning awards for advice quality.

These are just some examples of the lengths that we have gone to in order to provide advisers with what has been described to us as a ‘game-changing’ due diligence tool.

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Passionate about Advisers

When we look at the UK adviser market we see a group of dedicated resilient professionals adding major value to their client’s financial wellbeing. This has a really great feel to us, and we want to be a part of it. That is why we are here. It's what drives us.

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Colin Turton

AdviserAsset is led by Colin Turton. Colin's background includes accountancy and management consultancy with PricewaterhouseCoopers and Ernst & Young, being a practicing IFA and working with regulators.

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