Scottish Widows has announced the development of a range of online tools to help IFAs exploit the post A-Day opportunities available to their clients.
The Retirement Analysis Platform, which recently went live on the Scottish Widows Adviser Extranet, consists of four calculators intended to help advisers plan their clients’ retirement finances more effectively.
The Retirement Income Shortfall Calculator is designed to identify how realistic and achievable the financial goals set by clients are. Scottish Widows says the calculator looks at both pension and non pension assets including downsizing the home.
The Lifetime Allowance calculator is designed to help advisers find out how their clients target retirement income fits in with this allowance. This also takes into account pensions in payment.
The Salary and Bonus Sacrifice Calculator is designed to show clients the impact of this sacrifice on their disposable income over the short and long term.
The final calculator called the Tax Free Cash calculator is appropriate for those clients whose tax-free cash was above 25% of their fund at 05/04/2006. The calculator has been designed to help determine the benefits, should they make an additional contribution to enhance their tax-free cash.
Scottish Widows has also provided an on-line tutorial service for advisers, to ensure the tools can be used to their full potential.
Anne Young, senior technical manager at Scottish Widows, says: “Scottish Widows is committed to offering excellent online support to IFAs. We have developed these calculators as part of this commitment and we hope that advisers will find them both practical and worthwhile.”
If you have any comments you would like to add to this story or would like to speak to its author about a similar subject, telephone Matthew West on 020 7484 9893 or email [email protected].
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