Standard Life revolutionises retirement planning

Standard Life has launched a tool for advisers that will revolutionise the way advisers plan their client's retirement.

Retirement Manager is an online analysis tool which helps advisers plan and model scenarios at the touch of a button.

Retirement Manager helps the adviser in many ways: The tool provides true holistic planning as it allows advisers to input all the client's assets including employments income, state pension benefits, company and private pensions, property and other investments.

It takes into consideration any varying income needs, additional one off events and the client's attitude to risk.

It then pulls together an action plan matching all their client's goals for retirement.

It produces a personalised, consistent and professional report for their client and keeps evidence of all their client's considerations on file.

It stores all the client's details securely, saving the adviser time when it comes to reviews.

It even tracks the progress of the client so the adviser can try out new options as the client's circumstances may change into retirement.

In short, Retirement Manager saves the adviser time, which saves costs.

And because Retirement Manager produces consistent evidence, it has the potential to reduce Professional Indemnity costs.

Andrew Tully, Senior Pensions Technical Manager at Standard Life said: "Retirement Manager really will revolutionise retirement planning.

It's more than just a tax calculator.

At the touch of a button, it performs hundreds of calculations, considers the different combination of options available to the client and tests out numerous action plans.

It's a three dimensional tool that looks at the bigger picture to help provide true holistic planning." Ian McKenna, Director of Financial Technology Research Centre said: "This service breaks new ground in terms of the quality of pension planning software provided by life offices to advisers.

Supporting as it does not only the initial advice but also the ongoing review process it offer major benefits to advisers who want to move to an ongoing service based model".

Retirement Manager comes with a special pack for advisers to which will guide the adviser and client through every stage of the process.

To access Retirement Manager, advisers should contact their account manager or visit the new retirement planning solutions section on andnbsp;www.adviserzone.com and try out the demo.

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