A new tool has been created for financial advisers to help navigate the complexities of the fixed term annuities market.

Defaqto said it has simplified analysis for planners to aid their work as the retirement options increase with the Budget reforms.

The company has launched a new facility within its Engage adviser research tool - a new fixed term annuities data table - which it said would help professionals segment the fixed term annuities market easily and quickly, with a compliant audit trail.
Defaqto said the advantages of the added extra to its research tool were that it allows convenient access to key data features all in one place and an at-a-glance overview of the product and provider spectrum.
It said advisers could easily compare various offerings, save research time and produce compliant reports.

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David Cartwright, head of insight and consulting (wealth and protection) at Defaqto, said: "Defaqto has always provided access to a comprehensive set of data supporting the retirement income plans and annuities but with the introduction of the new standalone fixed term annuities table we have made research and analysis far quicker and simpler.
"Also, with greater freedom and choice over access to pension pots, it is now more important than ever to be able to easily research and compare the options available."