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Kurtosys partners with PAS to extend their financial planning tools capability

Kurtosys Systems Limited is proud to announce a new partnership with Pensions and Actuarial Support (PAS) Tools.

Designed to support financial advisers during a time of unprecedented change within the financial sector, the Kurtosys / PAS partnership will help clients produce online and mobile fund illustrations, carry out automated and audited actuarial work on fund projections and provide a whole range of financial planning tools to help offer transparent advice in a post RDR world.

Clients can request a briefing session to discuss how enhanced illustrations can help them address key issues such as those on our 2012 watchlist below:

Asset Based Growth Rates. Using an appropriate Growth Rate given the underlying assets the investor holds or is planning to hold has become a hot topic, with both the FSA and BAS putting increased focus in this area. After all would you expect an investor holding predominantly cash based assets to achieve a 7% return?

Retail Distribution Review and Adviser Charging. With the FSA finalising their requirements and the focus on separating the cost of advice from the cost of the product these changes will impact illustrations in December. The main impact on illustrations is the requirement to show separate Effect of Deductions and Reduction in Yield results for the Provider and Adviser Charges.

ECJ Gender Ruling. In March 2011 the European Court of Justice ruled that providers could not charge different premiums to investors by virtue of their gender. This impacts the industry with effect from 21 December 2012 and clearly affects pension’s illustrations due to the different the life expectancy for males and females that is used when pricing annuities. The recent SMPI guidance issued introduces blended mortality that has to be adopted by 21 December 2012.

Mobile Device Support. Illustrate anywhere at any time on any device. The seemingly unstoppable march of pads and smart phones is coming to the world of illustrations with more and more clients and prospects including support for such devices as a key requirement.

All of Market Funds. With more and more products offering wider and wider investment choice the need to be able to identify investments and obtain charges and be able to assess a sensible growth rate to use the need to be able to integrate your illustration offering with fund data is ever growing.

Robert Childs at PAS Tools said, “With a powerful calculation engine at its heart, PAS tools are designed to integrate seamlessly with pension administration and retirement planning tools used by advisers. We look forward to working alongside Kurtosys to promote informed decision making and help advisers serve their client base with confidence and clarity.”

Mash Patel, CEO at Kurtosys, said, “Kurtosys are continually looking for new ways to enhance our digital toolbox for financial clients and 2012 is the perfect time to offer increased actuarial support. The industry is in a state of flux and anything that can help improve transparency will be welcomed by advisers and clients alike.”