24 October 2007
Winterthur announces an enhancement to the Client Management Service1, with the launch of a new online planning option called Retirement Income Planner. This new service is available to all advisers and assists specifically with the financial planning of clients reaching, already at or in retirement.
The Retirement Income Planner, developed with DSTi PAS, will place specific emphasis on the three elements that the adviser and client control such as the contributions going into the retirement fund, withdrawals and asset allocation. This allows the adviser to utilise clients’ assets to best meet their income needs. Advisers are able to model varying income needs throughout retirement with the added ability to compare annuity purchase and income withdrawal retirement strategies.
An additional feature is the Optimise Portfolio option designed to work in conjunction with the Retirement Income Planner or as a standalone facility. This tool allows the adviser to maximise a client’s investment strategy, matching the portfolio outcome to the relevant risk category. Existing portfolio holdings can be adjusted by changing the mix of funds, in order to assess how varying the fund mix can help to create maximum gain. As part of the optimisation session, the adviser can decide to allow the tool to set up and process fund switches for the client’s unit linked policies held with Winterthur.
Key benefits of the tool:
- Up to date fund prices and asset allocations from Financial Express
- Ability to view how investment conditions affect retirement income using modern portfolio theory
- Integrated risk assessment and analysis to generate client risk profile based on a 12 question psychometric test
- In-built stochastic modelling to estimate future pension returns
- Comprehensive reporting for audit trails with the ability to review and revise plans to ensure clients remain on track
- Fully integrated with Winterthur’s administration and client management systems, saving the adviser time when inputting data.
David Thompson, Managing Director, Winterthur, said, “The ‘at retirement’ stage of the adviser/client relationship is one of the key trigger points for advisers to demonstrate their value and expertise, especially for high net worth clients. The risk category and client requirements fundamentally change during this period and it is important for advisers to not only be able to offer the right advice but also demonstrate their value.
“On this project, we have worked with recognised experts in their field to ensure academic rigour, optimal data quality underpinned by appropriate independence, a key point reinforced by our own research with advisers, as well as investigations carried out by recognised research groups in our industry such as Financial Technology Research Centre.”
Steve Fice, Chief Operating Officer of DSTi PAS, said, “DSTi PAS is delighted that Winterthur has chosen our next generation retirement planning tool, which we have developed in conjunction with Barrie and Hibbert. The integration of our software with data from Winterthur’s administration systems demonstrates how technology can allow an IFA to perform the most complex retirement planning and asset allocation in less time than was previously thought possible. We are proud to have our software as part of the award-winning internet service that Winterthur delivers”.
The service is available to advisers following registration via the Winterthur Life website – www.winterthur-life.co.uk.
1 The Client Management Service, within Winterthur’s Online Services, allows advisers to manage all their day-to-day client administration quickly and easily
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For further information:
Paul Riddell Winterthur Life, Press Office +44 (0)1256 798099
Becky Holmes Winterthur Life, Press Office +44 (0)1256 798310
Christine Wood FD +44 (0)20 7269 7253
Notes to Editors
About Winterthur Life UK Limited
Winterthur Life UK Limited is part of AXA Group, one of the largest financial institutions in the world.
Winterthur Life UK Limited is a provider of focused investment and retirement solutions and support services predominantly distributed through quality IFAs to their high net worth clients.
The company is recognised as having an innovative approach to financial products and its products feature simple, transparent charging with access to a wide range of carefully selected investment funds and fund managers via its Tailored Selection fund platform. Winterthur is also differentiated in the market through its focus on service excellence.
Winterthur Life UK Limited has a B+ financial strength rating from AKG, which denotes “very good financial strength”. As at June 30 2007, the company reported a rise in assets under management to £11.15 billion, up from 9.48 billion as at Q2 2006.
Winterthur Life UK Limited is authorrised and regulated by the Financial Services Authority.
Any opinions expressed in this media communication are made as at the date of publication but are subject to change without notice.
Past performance is not a guide to the future. The values of shares/units and the income from them can go down as well as up. Exchange rate fluctuations may cause the value of underlying investments to fall as well as rise. Yields are not guaranteed and may fall or rise.
www.winterthur-life.co.uk
DSTi PAS
DSTi PAS provides sophisticated financial planning tools for product providers, advisers and customers, which are designed to operate as either a standalone or integrated tool. It enables the financial planning activities that are required in order to provide informed and compliant retirement planning advice, including the production of FSA compliant illustrations and projections. PAS (Pensions & Actuarial Services Ltd.) was acquired by DST International in January 2006.
