Solicitors Independent Financial Advice, SIFA, the association of solicitor and accountant-led financial advice businesses, has launched an online funds selection services it says improves on blunt information from ratings agencies.
”fundsSIFtA” includes all collective, life, pension and offshore funds available to UK IFAs.
Funds are shortlisted based on qualitative criteria, then tested for risk, compared against each other for risk, and reports printed.
The six risk criteria analysed to shortlist funds are: discrete year performance, volatility, beta, alpha, Sortino ratio (has the volatility been ‘healthy’), and information ratio (performance relative to risk taken).
Hosted as a service and based on data and systems from MoneyMate - which operates across the EU – the solution requires no software be installed on IFAs’ computers.
IFAs can try fundsSIFtA through a 14-day trial access to the SIFA website
User licence fees are currently set at £95 per month for the first user, and £70 per month for each subsequent one - discounted to £75 and £50 respectively for SIFA/ sIFAc members.
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