The software, developed with and verified by financial advisers, provides a single view of a customer’s sources of income such as property, bonds and pension pots. Once a customer has provided their financial adviser with aspirational retirement target income, known pinch points such as big holidays or supporting children in buying a home, Synaptic Analyser will allow financial advisers to model multiple income scenarios and make numerous calculations including:
- Forecast monthly retirement income based on current pension, assets and savings
- Shortfall analysis to reach the desired retirement income
- Insight into the taxation of potential retirement income options
- Including or excluding state pension calculations
- Mortality calculation using data from the Office of National Statistics life expectancy data
The software, road-tested by a number of financial advisers, processes complex queries quickly, while remaining easy and intuitive to use. It also enables financial advisers to compare the drawdown products available to customers and produce easy to read reports that meet compliance requirements.