Data from Selectapension’s enhanced model portfolio feature has revealed that advisers are using a select number of providers to set the benchmark when reviewing client investments.
The technology provider added extra functionality to the tool, enabling users to compare charges and past performance of portfolios.
Early adviser usage analysis of the new feature showed four key providers - Scottish Life, Scottish Widows, Aegon and Standard Life - feature prominently in the majority of reviews.
Andy McCabe, managing director of Selectapension, said: “In the aftermath of significant change in the pensions industry, advisers are regularly reviewing their clients’ investments to ensure their retirement goals are being met.
“With the impending changes announced in the 2014 Budget, we expect advisers will need technology more than ever to help clients’ plan and save for the future.”
The technology offers analysis of around 50 providers with almost 400 products.
The extra functionality provides a more rigorous analysis of investment options and illustrates the research undertaken, which Mr McCabe said is crucial for compliance and client communication.
Craig Brown, partner at Skyridge Financial Planning, said: “Over the past few years, I have moved away from building portfolios for my clients and I have found that risk targeted portfolios are a very good solution.
“The incorporation of a number of risk based/targeted investment portfolios ensures that the client has access to an asset- allocation investment strategy which matches their risk profile, while taking all relevant charges into account through the switch analysis.”
