SaidSo, set up by Chartered Financial Planner Keith Churchouse CFPTM Chartered FCSI, has decided to make the move, following the publication of the Financial Advice Market Review.

The review stated that the Treasury should challenge the industry to make a pensions dashboard available to consumers by 2019, bringing together industry and consumer representatives to help them set direction and drive progress.

Esther Dadswell, Chartered Manager and co-founder of SaidSo, said the firm sees this opportunity as a “natural progression” to the digital processes they have already developed thorough existing advice systems.

This includes an internal management dashboard platform, which the firm will use as the chassis for a client facing pensions dashboard.

Development has started and will continue throughout the summer.

Ms Dadswell said: “Although we feel that the FAMR could have gone further in some areas, there were a couple of gems in there that can really add value to the client interface and end user experience.

“The principle of a pensions or savings 'dashboard' is not new, but the way this can now be applied we feel is and this is what we plan to develop through SaidSo over the summer. We also like the concept of a 'mobile' client fact-find and this may follow on from the dashboard.

The FAMR sets the industry a challenge or two and we love a challenge, especially when it’s digital.”

The FAMR report stated: “There are currently a number of projects looking at the idea of a ‘pensions dashboard’. A pensions dashboard is a consumer-friendly digital interface that would display information about all of
an individual’s pension savings in one place.

“This data would ideally be retrieved directly from providers and would not require lengthy data input by the individual. The dashboard could update in real time and contain projections of pension income based on different scenarios. These projects involve a wide range of industry and Government bodies.

“In the FCA’s Retirement Income Market Study the FCA recommended the development of a dashboard to enable consumers to view their lifetime pension savings (including the state pension) in one place.

“Given the advanced nature of the pension passport initiative, and the opportunity for the pensions dashboard to build on this progress by allowing consumers to access their data at any time, not just six months before retirement, FAMR strongly supports this idea, and believes that it has the potential to allow consumers to take greater control of planning for their retirement.”

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