New-look online tools from wrap provider Nucleus
IFAs can now get more data analysis at their fingertips after wrap provider Nucleus upgraded its technology.
The improvements include a new integrated calculation engine on the user-controlled illustration system, which can calculate payment streams including transfers, lump sum payments and regular payments.
Other functions added to the illustration system include the ability to model different growth rates and retirement ages, whereas previously the system could only support calculations based on standard growth rates and default retirement age of 75.
Previously, a manual process was required for non-standard rates and any other retirement age.
Another improvement is a calculator that enables advisers to identify whether an asset disposal is an outcome of a corporate action, and therefore taxable or not.
The effect of changes to clients’ natural income can also be calculated quickly now after the upgrade.
John Simpson, member of the Nucleus platform development group, said: “We expect the FSA at some point to mandate a user-controlled process for illustrations.”