Morningstar has launched a new investment forecasting tool for investors in an effort to plug what it warns will be a post-RDR advice gap.
The research and data provider says its Wealth Forecasting Engine gives investors a cost-effective forecasting tool and helps them develop a personalised investment plan. It could also be the "first step" in addressing the advice gap in the post-RDR world, Morningstar said. "The anticipated advice gap that may result for many thousands of investors as the UK industry moves to a fee-based advice model puts greater urgency on a technology solution that supports investors in an efficient and scalable way," said Morningstar CEO Geoff Balzano. The tool uses simulations to forecast how long...
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