AEGON Scottish Equitable has teamed up with Towers Perrin Tillinghast and Cazalet Consulting to launch an online with-profits analyser.
The tool will help financial advisers establish whether their clients’ with-profits bonds are still a suitable investment.
Launching on 11 June 2007, the With Profits Analyser tool will be available free to financial advisers on the AEGON Scottish Equitable extranet.
The tool is designed to be simple and quick to use, taking no longer than 10-15 minutes. It provides output that will enable financial advisers to answer the FSA 10 questions comprehensively, allowing a decision to be made as to whether clients’ with-profits bonds still meet their requirements.
The tool offers built-in risk profile questions, up to date information on current with-profits bond providers from Cazalet Consulting and mini or full reviews. It also acts as an audit trail for reviewing with-profits bonds.
David Aaron, marketing communications manager (Investment Products) at AEGON Scottish Equitable says: “Our With Profits Analyser tool uses sophisticated stochastic modelling which assesses future trends in investment markets and predicts possible investment returns. It also forecasts against an alternative investment based on a client’s risk profile.
“According to the 2005/06 FSA annual report, there is an estimated £427bn invested in with-profits. Many individuals have never reviewed their investments and the FSA strongly recommends advisers take the lead. They should think about the original reasons their client took out a with-profits bond and what their original aims were. Is it still meeting their expectations?”
Aegon Scottish Equitable is also joining with Ned Cazalet to run six with-profits roadshows in June. These will highlight the current state and future of with-profits investments. Cazalet will be particularly focusing on with-profits and the FSA which has demanded with-profits are properly reviewed.
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