Skandia Life this week brings out a fund selection tool to help IFAs select the best vehicles from a...
Skandia Life this week brings out a fund selection tool to help IFAs select the best vehicles from among the 1,200 in its overall range
USelect has been developed in conjunction with Watson Wyatt and Standard & Poor's Micropal and offers both a bespoke asset allocation model and a Skandia fund information service, which IFAs can use and present to clients
The Watson Wyatt asset allocation model calculates an asset allocation for each client, based on answers to questions about their risk profile and time horizon
In selecting sectors for investment, IFAs can apply a number of factual filters to the list of Skandia funds, designed to make the fund selection decision an easy, step-by-step process
Jo Gilbey, investment brand manager at Skandia Life, said: "Customer friendly graphs and charts means that IFAs can go through the stock selection on screen with clients. IFAs are able to demonstrate the effect of a low or high risk strategy on future returns in any market or sector. Similarly, customers can see historic performance on our wide choice of life funds
After selecting the required funds from each sector, the IFA can save the portfolio and revisit at a future date to review asset allocation. Performance can also be reviewed with data downloaded from the Skandia website each week if necessary
An added feature is the ability to provide video clips on the system where fund managers put their case for investment in specific sectors and asset classes as part of a balanced portfolio
Gilbey said: "USelect aims to make the selection process of Skandia's many funds easier for IFAs and their clients. It is for IFAs who already use Skandia funds and those who may be deterred by the wide range which can be somewhat overwhelming
She added it is likely once UK legislation changes relating to electronic signatures, the system could also be used in the preparation of application forms
The USelect software will be distributed free to some 22,000 IFAs in the UK. A marketing campaign is now underway to distribute the software. A series of broker seminars promoting the concept are scheduled to start in Southampton, Redhill, Manchester and Bristol during October and are planned for other areas later in the year
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