3rd August 2009

Ascentric chooses the Independent Edge 'RDR Compliant' Investment Tools

The ability of Independent Financial Advisers to conduct Independent, robust research on a whole of market basis is the focus of much attention in CP09/18, the recent RDR Consultative Paper.

Shannon Currie, Managing Director of Independent Edge stated “If independent firms use panels, software or systems provided by product providers, they risk jeopardizing their independent status.

 This should not happen, as product provider systems should be actuarially ‘clean’ and unbiased. However, it turns out that most, if not all, have had their asset allocation and assumptions ‘adjusted’, for whatever reason.

 This means that after December 2012, the only way that any IFA firm can be certain that their systems are ‘RDR Compliant’ is if the system they have decided to use is actuarially clean, and has had absolutely no ‘product provider’ input.”

In response to this urgent need, Independent Edge has developed both a Virtual Investment Committee, and a clean asset allocation and risk profiler tool.

Richard Goodall, Sales Director at Ascentric said "As a platform with unbiased and unrestricted market coverage, it's important that advisers also have access to RDR compliant tools to help them make the right decisions for their clients. The addition of Independent Edge is a significant enhancement to the tools we already have on the platform and will undoubtedly prove a big hit with our users."

Shannon Currie commented, “As the new tools from Independent Edge are completely clean and already RDR compliant, we are delighted that Ascentric, as a ‘whole of market’ wrap has chosen our tools to offer its IFA users”

‘The Investment Solution’ from Independent Edge is one of the few systems available to IFA’s today that already meets the standard demanded by the FSA in the post RDR world.

It is a web based, actuarially clean, unbiased integrated Risk Profiler and Asset Allocation process. Unlike others on the market, this is based on UK data, rather than data from the USA or Australia. This produces a result that can be discussed with the client in a very interactive way, to fine tune the answers and ensure the client does really understand the process and the implications of the outcomes.

For many Advisers, this will be enough, and they are well capable of then researching and choosing funds to fit the selected Asset Allocation.

For other firms, they will take the view that the slicker and cleaner the process, the better, thus allowing them to focus on their added value, the advice process.

For these firms, the ‘Virtual Investment Committee’, is ideal.

This is an independent fund selection process, which provides subscribers with ‘Buy’, ‘Hold’ and ‘Sell’ lists of funds. These lists are assembled by independent Investment specialists, using strict, clear and published qualitative and quantative criteria.

They produce their own fund factsheets to back up the selection, which can be provided to clients.

This allows a seamless process, which fully meets the FSA post RDR standards, and, importantly, is slick and efficient.

In summary, the products and services offered by Independent Edge are ‘RDR Compliant’ right now, straight out of the box.

For an average IFA firm of 3 or 4 Advisers, the monthly subscription would only be £300 plus VAT for a complete investment solution, (Ascentric users receive a discount) which equates to a saving of something like £3000 per month in Adviser time, if recent surveys are to be believed.

Phil Billingham, Director at Perception Support, said ‘Independence is a critical part of the RDR proposals. Tools such as those developed by Independent Edge help to preserve and enhance an IFA’s independent status.’

For further information, please contact:

Independent Edge
Shannon Currie
Managing Director

Tel: 07808 931613

Email: shannon@independentedge.co.uk

Ascentric
Dominic Ventham
Head of Marketing 

Tel: 01225 787208 
Mobile: 07590 227039

Email: dominic.ventham@ascentric.co.uk