Defaqto has launched a new product and platform switching tool to help advisers remove time and complexity from their pricing research.

The newly launched tool quickly compares multiple platforms, GIAs, ISAs, Junior ISAs and bond scenarios from Defaqto’s end-to-end financial planning system, Engage.

It is now available with 30 days complimentary access for existing Engage users, which equates to 30% of independent financial advisers (IFAs) in the UK.

Engage, which is powered by Defaqto’s data that includes more than 18,000 funds, platforms and products, is recognised by advisers and consumers as a trusted source of financial product and market intelligence. Recommendations of £42bn go through the system annually.

By using the new switching module in Engage, advisers will have a simple solution and a unified methodology across their entire advice process. They will also save time by reducing the requirements from duplicating the same information across multiple systems.

“One of the best ways for advisers to bring in new clients is to show them quickly and easily why they will be better off with them,” said chief commercial officer at Defaqto, Glenn Porter. “It also provides an opportunity to attract more investment from existing clients.

“Even a small reduction in total costs can make a significant difference to your clients but the research can be complex and time consuming. When you have evidence that clearly shows where an investment portfolio is now, and where it could be, it’s an easy decision for somebody to trust your advice and it supports adherence to Consumer Duty.

“Defaqto has high levels of awareness amongst consumers, so advisers also benefit from clients trusting that they’re making smarter financial decisions underpinned by our data and technology.”

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