Investments  

Product review: Selectapension management tool

Selectapension has launched an investment management tool in response to a growing belief the regulator will start looking more in depth into the asset management industry.

Asset Reviewer aims to help advisers undertake and record an analysis of clients’ current and new investments across a wide range of asset classes and products. These include investment bonds, collectives, Isas, Oeics and savings plans.

The Asset Reviewer (which covers investments beyond funds for pensions) gives access to more than 30 providers and 100 products.

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Selectapension believes the tool will enable advisers to save time on research and provide an audit trail for future reviews, thereby being a useful addition to a good compliance regime.

Selectapension Asset Reviewer costs £41.67 + VAT per month or £500 + VAT from 1 March.

www.selectapension.com

Comment:

Technological tools are becoming more and more important in the way advisers do business. The Asset Reviewer tool comes out of research conducted by Selectapension that showed 83 per cent of its existing customers rely on software for investment research.

One potential stumbling block for the tool is that it does not cover all kinds of investment. On the subject of the lack of investment trusts available through the tool, Peter Bradshaw, national accounts director at Selectapension, said that it was likely they would add them in the next phase of development of Asset Reviewer.

Selectapension has got off to a good start in having providers such as Fidelity and Standard Life on board, but in order for it to have the necessary impact it needs to increase from 30. The fact that not all providers are accessible through the tool acts as something of a dampener on the need for a whole of market view, although it is possible to add bespoke products with specific charges.

Selectapension says the intention is to have the tool be as broad and as comprehensive as possible, although only time will tell if its scope extends. While Asset Reviewer is a good product in theory, it is important that it builds momentum in order to serve a really useful purpose for advisers.