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Exchange fills gap with contracting-out guides

Exchange FS is offering IFAs a new contracting-out recommendation guide after the withdrawal of templates by life offices.

It believes the guide will fill the gap left by providers which have withdrawn their model recommendations and will help IFAs steer clients through the marginal differences between Serps and contracting out.

The guide works on a client-specific basis to assess whether they could benefit or would continue to benefit, from contracting out.

The tool is part of a new range of retirement planning software applications going live on The Exchange from early July.

These are designed to help IFAs advising on complex areas such as transfer value analysis, income drawdown, and comparisons between stakeholder and existing pension arrangements.

The tools are applicable to any IFA, regardless of whether they hold the specialist qualifications required to transact business in these areas.

The first two products available will be the stakeholder comparison tool and the contracting-out guide.

Exchange head of retirement marketing Mark Goss says: “Increasingly complex regulations and fears of retrospective reviews are stopping IFAs from conducting business in the more specialist areas of retirement planning. Our tools are aimed at all IFAs, whether they are authorised to transact this type of business or not, and can help them take advantage of these areas.”

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