Defaqto launches drawdown table

Defaqto launches drawdown table

Research company Defaqto has launched a table of drawdown products covering both personal pensions and Sipps.

The firm said it had launched the table in response to adviser demand since the introduction of pension freedoms, and the subsequent increase in demand for drawdown products.

The new table uses data from personal pension and Sipp tables, and allows providers and advisers to use a single table from either Defaqto’s Engage or Matrix programme.

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The firm said this meant users would no longer have to "toggle between two tables".

Defaqto described Matrix as a research tool that analyses products on the market, and supports "the decision making process throughout the product life cycle", while Engage is a program that allows advisers to manage their financial planning process in one place.

The firm said users of Engage would be able to use the new table to compare and shortlist the functionality offered by personal pensions and Sipps in a single place, view Defaqto’s drawdown Star Ratings alongside the products, and construct a panel containing both personal pensions and Sipps in the same table.

Users of Matrix would be able to analyse the drawdown market for personal pensions and Sipps in a single view, the firm stated.

David Cartwright, head of insight and consulting for wealth and protection at Defaqto said the firm analysed around 41,000 financial products in the UK, of which almost 10,000 were funds and fund families.

He said the remaining 31,000 were wealth, protection, general insurance and banking products, including drawdown.

"With all this data we strive to make it as easy as possible to access and view in the formats that our customers want and need. For PPPs and SIPPs we observed a real need to combine these tables to make the drawdown view as efficient and easy to navigate and view as possible," he said.