Ascentric launches Key Features Builder Tool
14 July 2010
Independent wrap platform Ascentric today announces the launch of its unique Key Features Builder Tool for advisers. The tool was developed in association with fund information provider FundsLibrary as a way of demonstrating the holistic platform cost of setting up product wrappers to clients.
The tool aims to complement fund manager KFDs by generating a single document that contains a summary of the risks, aims and performance of the product wrappers and funds selected by the adviser. However, the Key Features Builder tool goes beyond standard illustrations by showing the impact of fund specific charges as well as the costs associated with the transaction on the portfolio growth rates. Specifically, the Key Features Builder covers:
- Adviser Charge
- Fund Manager Charge
- Product Wrapper Charge
- Ascentric Charge
This enables advisers to provide clients with a complete picture of all the charges and the impact these have on their Total Expense Ratio (TER), helping them better understand their personal investment choices.
Advisers can also use the tool to show the charges associated with setting up Model Portfolios on the platform, as well as a wide range of Exchange Traded Funds (ETFs). Their inclusion highlights the growing popularity for both propositions among advisers using the Ascentric platform.
Richard Goodall, Sales and Marketing Director at Ascentric commented, “RDR is driving transparency within the market, and this tool has been designed to support the adviser in achieving this standard. I expect tools such as the Key Features Builder to become the norm for platform disclosure moving forward.”
Stuart Louden, Managing Director at FundsLibrary said, “FundsLibrary is delighted to be able to offer the Key Features Builder Tool to Ascentric users; the tool will enable advisers to clearly demonstrate the effect of all charges on their clients’ portfolios in a transparent manner. FundsLibrary was built specifically to service the fund information needs of professional advisers and this tool enhances our core tool capability.”
ENDS
For further information, please contact:
Ascentric
Dominic Ventham, Head of Marketing
Tel: 01225 787208, Mobile 07590 227039
Email: dominic.ventham@ascentric.co.uk
Issued by Concise Public Relations
Tel 0207 100 3960
Martin Wood
Mobile: 07946 527240, Email: martin@concisepr.com
Liam Jenkins
Mobile 07984 439968, Email: liam@concisepr.com
Notes to Editors
Ascentric and Fundsdirect are the trading names of Investment Funds Direct Limited.
Investment Funds Direct Limited was founded in 1982, and Fundsdirect launched as the UK’s first online fund supermarket in December 1999. Since that time, the company has built on their reputation as a leading UK fund supermarket to provide Independent Financial Advisers (IFAs) with a Wrap service under the brand name of Ascentric.
Ascentric is a whole of market Wrap service, available exclusively to IFAs and offers a fully integrated online investment management and dealing platform. It also enables IFAs to transfer their clients’ assets onto a single platform to provide them with the ability to manage their client’s financial needs in just one place. This is obviously a considerable enhancement to the existing, time-consuming practice of IFAs introducing their clients to a number of different product providers.
In October 2007, a majority holding of Investment Funds Direct Group Limited was acquired by Royal London Group.
For further information about Ascentric and Fundsdirect, please visit either www.ascentric.co.uk or www.fundsdirect.co.uk
Royal London Group is a specialist financial service provider. Its businesses focus on those sectors of the market which value quality propositions, operating through a number of brands:
- Scottish Life – UK pensions market
- Bright Grey – UK protection market
- Scottish Provident – UK protection market
- Royal London 360° – offshore investment markets
- RLAM – fund management
- RLAS – life and pensions administration
- Fundsdirect / Ascentric – funds supermarket; Wrap platform
Royal London also distributes life and pensions products through Santander’s UK branch networks.
Royal London is the largest mutual life and pensions company in the UK with Group funds under management of £39.1 billion. Group businesses serve around 3.4 million customers and employ 2,890 people. Figures quoted are as at 31 March 2010.