Financial Planning and DB software provider O&M Pension Solutions has launched a service to help adviser with retrospective DB transfer analysis.
Advisers can add the DB transfer analysis tool to O&M’s FinCalc Financial Planning software.
Advisers can request reports that can be back-dates as far as 1 May 2012 using the FCA rules and assumption in force at the time.
O&M’s library of scheme data and in-house scheme knowledge can be used to help fill information gaps in the reports.
The software provider said it has had many requests to add a retrospective DB transfer analysis tool from advisers looking for help with past client reviews, compliance, and file tidy-ups.
Gavin Shears, senior consultant at O&M said: “The number of requests for a retrospective report of this nature has risen over the last couple of years.
“Having the ability to run cases from the past, regardless of whether the case was originally run by O&M, will provide advisers with an option to produce a report at a retrospective date fully compliant with FCA COBs rules.”
The two-way integration eliminates the need for data rekeying, lowering risk and saving time for advisers.
FinCalc is the technology platform created by O&M Pension Solutions.
O&M Pension Solutions was setup as a separate company in 2013 as part of the split of O&M Systems, and specialised in the TVC/TVA software and services market.