As you log in to Synaptic Research (Fig 1), you will notice a new look and feel to the software. This new branding coincides with some other evolutions that we have launched this December, which are detailed further in this guide or elsewhere in this edition of Connection.

The changes highlighted span across all product types where appropriate, but for the purposes of this guide, we are demonstrating full client focussed research, culminating in a suitability report for a personal pension.

Fig 1

The next obvious change is that the software has a new homepage (Fig 2). We’ve improved the software newsletter so that it’s available every time you log in to provide you with useful information and keep you up to date on changes to the software and data. In addition to our company news, you will find a series of tabs to allow easy access to product additions & deletions, contact information, training details and other useful content such as the industry news section, courtesy of Trustnet.

Fig 2

From the home page, select the next tab along called Pension Savings. On this screen, you can see the products types listed within the pension savings category on the left hand side (Fig 3). To proceed, simply click on the blue text: ‘Personal Pension Fully Insured’.

Fig 3

The system will take you through to the client entry screen (Fig 4). The top half of the client screen captures data specific to your client. If you have conducted research for this client previously, you can use the load button to pre-populate data such as their name, date of birth, smoker status, etc. There are also now two new fields and the top half of this screen to capture your client’s occupation and annual earnings. To assist you with the occupation field, we’ve added a new search facility (Fig 5).

Fig 4

Fig 5

The lower half of the client screen caters specifically for information relevant to the product being researched. For personal pensions, you will need to enter the expected retirement age. The term will then be calculated automatically. Enter the monthly and/or single gross contribution and start research.

From the features screen you will be presented with a host of different product features that can be used to apply tick box filtering to eliminate products that are not in line with your clients’ needs. Features listed in bold have further sub features that are displayed once you have ticked the heading. At this point you should select the features to match the premium frequency entered on the client screen (Fig 6).

Fig 6

By right clicking your mouse over a feature, you will be able to view the feature definition. If you left click on the feature title without ticking the box, the software will add those features as columns in a data grid on the right hand side of the screen. This allows product comparison without eliminating products from the research process.

Further filtering is available from the sectors tab. In addition to the changes already described above, Synaptic have changed fund data supplier to Financial Express. You will have a choice of sector classification schemes: either the traditional ABI pension sectors or Financial Express global sectors. Within the sector lists, the ABI pension sectors will be prefixed with ‘ABI’. Financial Express global sectors are prefixed with GL. Fig 7 assumes ABI sectors have been selected. Tick alongside the sectors in line with your client’s attitude to risk. Any products that do not offer funds in the sector selections will be filtered out from the research process.

Fig 7

More filtering is available from the conditions, stats and PP (past performance) tabs to reduce the products listed to a shortlist of only those that are suitable for your clients’ needs.

At any time during the filtering process, select the ‘audit trail’ button to pinpoint where products have been excluded from the research process. This is located at the lower part of the screen underneath the features/sectors/conditions/etc. lists on the left hand side of the screen. This can be saved separately in PDF (Fig 8).

Fig 8

Fig 9

Proceed to the ranking section. This will allow you to rank the remaining products on one or more of the options available. You are able to determine the appropriate level of importance of each (low, medium or high).

Some ranking options are specific to the product provider, such as their financial strength (of which there are three sources to select from). Other options are specific to the product, such as sample maturity and transfer values or the past performance of funds available for investment (based on the sector selections earlier in the research process).

Click on the calculate button. Synaptic Research will perform a series of calculations for the remaining products based on the ranking options selected and their relative importance. The results are displayed in a simple, easy to read format (Fig 10).

Fig 10

Individual scores for each ranking option can also be viewed when clicking on the appropriate coloured tab (Fig 11).

Fig 11

Select the report tab. You will now be able to select your recommended product from the list by clicking on it (Fig 12).

Fig 12

Once highlighted, you have a choice of report formats – a quick standard report, a product fact sheet or full suitability report.

Fig 13

Fig 13 and 14 show report template fields and the first page of a full suitability report respectively.

Fig 14

Please contact us to arrange for a free trial of Synaptic Product Research on 01279 756080.

Note: all items selected in this example guide are for demonstration purposes only and do not constitute professional advice. All data correct as at December 2009. Source: Synaptic Product Research.