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Firm&#39s new angle on fund selection

IFA software house Shouts has launched a new investment fund selection service which could revolutionise the way IFAs pick their clients&#39 portfolios.

The software takes the form of an investment decision tree that will guide IFAs through a list of questions before producing a short list of suitable funds for their client.

As well as allowing IFAs to specify basic investment objectives, desired risk levels and preference of fund manager, it also gives advisers the chance to compare funds in terms of total expense ratios and past performance.

Once a fund has been selected, the service also provides a compliance audit trail which can be incorporated into IFAs&#39 reasons-why letters.

The service, which currently covers unit trusts and Oeics, is compiled using quantitative data from Lipper and Fitzrovia as well as qualitative data from Investors Partnership Research.

The detailed database provides a new level of transparency in fund selection and will allow smaller fund managers to be compared on a more even keel with the bigger houses. The service is provided on CD-Rom and IFAs can update the database weekly from the internet. The charge for the service is £40 plus VAT a month per workstation, plus £10 a month per RI.

Shouts was founded last year by the former managing director of Black Rock Financial Services, Roger Bevan. He says: “From feedback we have received so far, we believe Shouts will prove popular both as a research and training tool, and to aid the sales process either face to face with clients or for group presentations.”


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