The tool compares multiple platforms, GIAs, ISAs, Junior ISAs and bond scenarios from Defaqto’s end-to-end Financial Planning system Engage.
Glenn Porter, chief commercial officer at Defaqto, said: “Gone are the days when you needed to work out the RIY for yourself on a time-consuming spreadsheet.
“The RIY calculator in this tool covers platform, wrapper, fund, and adviser fees, enabling you to illustrate the contrast between new and existing investment scenarios.”
By using the new switching module in Engage, he said Planners will have an easy-to-use solution and a unified methodology across their entire advice process.
Mr Porter said the tool minimises the chances of making a mistake inputting numbers, saves time, and generates complete, compliant reports "that can be included in a client file for a clear audit of recommendations."
It follows the positive uptake of Defaqto’s pension switching module in Engage, he said.
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