Whole-of-market platform for later life deals, Advise Wise, has brought out product comparison feature which will help advisers present different product offerings and meet Consumer Duty requirements.
The product comparison feature allows brokers to see different products side-by-side and download a comparison PDF.
Advise Wise said that it would allow brokers to compare lifetime mortgages with retirement interest-only or buy-to-let plans based on different criteria.
This could include interest rate, net loan, drawdown, price per pound, fees, product features, early repayment charge notes, total amount owed.
The firm said that the product comparison tool would allow brokers to provide clients with a “more comprehensive understanding of the options available to them” and will help them make informed decisions and lead to better customer outcomes.
All advisers with an Advise Wise account can now access this feature.
Advise Wise: ‘A ground breaking tool for advisers’
Jonathan Thirkill (pictured), CEO at Advise Wise, said: “With the FCA’s new Consumer Duty coming into force from July, we want to help advisers and give them the tools to comply with the upcoming rules and guidance.
“So we’ve listened to our members’ feedback to understand how we could improve the platform further and as a result of this we’ve introduced the product comparison with the option to download the comparison PDF, which we believe will be a ground breaking tool for advisers.”
He continued: “With this new feature, we’re providing advisers with an easy way to present product information to their clients, in a clear and concise manner. This will help our members save time, improve their client relationships and ultimately, grow their businesses.”
