Synaptic has over fifteen years of experience of providing tools to financial advisers which enable them to research new business quickly and efficiently, and to document their recommendations. Synaptic Research continues to model “best practice” research for the IFA industry:
Choose the product type to research.
Enter client details, and the premiums/benefits required ofthe policy.
Specify the characteristics which contracts must have inorder to meet the client’s requirements. For example: particular features suchas phased investment, levels of charges, financial strength ratings, fund linkswhich suit the client’s asset allocation requirements. Contracts are eliminatedunless they can do everything which the client needs them to do.
The remaining contracts are then ranked into a league table,based on the adviser’s selection from a wide range of criteria: charges,premium levels, past performance (including risk-adjusted metrics such asalpha), contract flexibility and desirable features.
The adviser picks the contract they are recommending from the league table – usually the top one – and generates a suitability report.
Once a contract has been selected, Synaptic Research canlink to quotation engines such as Webline and the Exchange (accounts need to beset up with quote portals). For some contracts, Synaptic will automaticallygenerate comparative quotes and add them to the research, meaning that youdon’t need to generate quotes separately.
Existing business can be re-examined by comparing the pastperformance of contracts, generating fund factsheets, and building grids ofdata to compare products against new potential alternatives.