AdviserAsset is different…
We have squared the circle – delivering the best and easiest to use tools and at the lowest cost. We have been able to do this because:
- We have no salespeople. We don’t need them. Our users come to us via word-of-mouth referrals. So, no sales peoples’ salaries or commission, no sales infrastructure (premises, technology) and no advertising. This is a big cost saving which we pass onto advisers.
- Our business processes and systems have been designed by business reengineering specialists, delivering a step-change in efficiencies and cost savings. For example, accounts payable/receivable processes that might ordinarily require over ten people in a business of our size can be run with less than one full-time equivalent member of staff.
- We have a blended approach to adviser support which is by email and phone. As most queries can be answered by rapid response email we can respond to adviser queries faster and more efficiently, providing a higher quality service and at lower cost. We will of course always pick up the phone if that is the best way to provide support.
- The quality of our tools comes from our complete focus on the adviser. Our founder was previously a practicing IFA. Advisers are involved throughout all of our developments.
Our tool range and integration – our tool range comprises:
- Platform consolidation tool – a multi-wrapper switching tool. It compares the cost of existing client holdings across multiple wrappers/providers vs the cost of consolidation of these holdings onto a single platform – the only tool in the market that can do this.
- Charge comparison tool which compares total cost of ownership (RIY) for platform and off-platform solutions.
- Pension switching tool – enables comparison of ceding schemes with potential receiving schemes.
- Drawdown tool – enables income withdrawal scenario planning and drawdown charge comparisons.
- Platform due diligence tool – enables advisers to specify platform requirements (features and functionality) and produce a ‘best-fit’ platform report.
- Lifetime cash flow modelling tool – quick and easy to use and incorporates integrated Monte Carlo simulations.
The tools all integrate with each other, and now also integrate with Intelliflo.
Highly responsive – hardly a month goes by without tools being enhanced. Recent enhancements have included:
- Intelliflo integration.
- Ability to upload investment portfolios from an Excel spreadsheet.
- Tool output reports can now be downloaded in Word format, as well as pdf.
- Ability to include or exclude MiFID II fund transaction charges, as required.
- Inclusion of any DFM and DFM portfolios, so that DFM charges can be quickly and easily combined with platform charges.
- Ability to apply different adviser charging to ceding schemes left in situ, vs ceding schemes that are moved.
- Much simplified method of handling inflation in pension switching cases.
- Numerous enhancements to our cash flow tool including user specified colour pallet for graphs, withdrawals from savings pots expressed as a % as well as £, and ability to model £ transfers between savings pots.
By advisers for advisers – Advisers have always been at the centre of our business:
- Advisers are an integral part of all of our development cycle from initiation of ideas to user group involvement in our development and testing.
- AdviserAsset was founded by Colin Turton who was previously a practicing directly authorised whole of market IFA. Colin has over 40 years of experience within financial services having worked with some of the largest providers and adviser groups in the UK. Colin has also worked with regulators within the UK and EU.
Tools built in a world of platforms and DFMs
Back in the old days, advisers tended to recommend ‘products’ from product providers and fund groups. Today most advisers offer holistic advice around management of client assets to meet client objectives. Most advisers use platforms as part of their proposition, and most platforms operate wrapper independent tiered charging structures. The days of product silos are long gone. It is therefore critical when comparing charges to be able to aggregate assets across different wrappers, not just for new business, but in situations where switching or consolidation onto a platform is being advised on. Few, if any tools can do this.
There are many other complexities in to days world that need to be considered. These include incorporating DFM portfolios, and taking into account the myriad of share class options and unit rebates available. Some platforms have incorporated MiFID II fund charges in illustrations, some have yet to do this. Our tools have been conceived and built in this complex world with extensive involvement of advisers.