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Standard Life launches cashflow modelling for Wrap users

Money-Cash-Coins-GBP-Pounds-UK-700x450.jpgStandard Life is launching a new cashflow modelling tool for its Wrap clients in response to increasing need for pension transfer advice.

The tool, developed by Focus Solutions, will be “data light” and easier to understand than many existing ones in the market, the firm claims.

Standard Life Wrap advisers will use the new model to follow their client’s needs from state pension payments or to assess any impacts potential falls in the market can have on portfolios.

Standard Life head of financial planning propositions Alastair Black says: “The recent pension transfer paper specifically highlighted the area of sustainability of income as a key consideration for defined benefit transfers, though this of course applies equally to all flexible income pots in retirement.

“The challenge for advisers is helping clients understand what this significant pot of money can and can’t do, in different circumstances, and for how long. Our new cashflow modelling tool has been designed to help with that.”

336 Financial Management director Elaine Walker says the Standard Life tool as less “cumbersome” or time consuming than many other cashflow modelling tools developed in the past.

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