AdviserAsset, the platform due diligence tool with more than 14,000 users, has launched a free pension switching analysis tool.
Advisers can now compare multiple share classes of a fund, including mirror funds, in one comparison.
For example, advisers can compare bundled share classes with super-clean classes all in one comparison.
The adviser controls which fund classes are used.
Advisers can also look at different sources, and can compare on-platform, off-platform and third-party pension wrappers for both straight cost comparison and pension switching analysis.
Advisers can also look at multi-wrappers.
In the old days, the fact that a client held multiple products had no bearing on the price of each product but that has now changed.
AdviserAsset believes the charges applicable to a pension switch need to reflect the impact of any other products. The new tool does this.
Colin Turton, director of AdviserAsset, said “Advisers can now get free easy access to fast multi-dimensional solution option charge comparisons. Many more solutions. With everything selected, the tool often returns in excess of 600 result sets.
“How the adviser configures the comparison has a major bearing on how many results are seen, and how far up or down the table any platform/provider/wrapper might be.
“I think the new tool moves the game on quite a bit, with some significant implications for platforms, life cos and third party wrapper providers.”
