Lonsec launches comparison tool that streamlines best interest duty obligations

Mike Wright

Research house Lonsec has launched a new product comparison tool that streamlines best interest duty obligations for Advisers. Sitting within Lonsec’s iRate® portal, the ‘Products Like This’ tool simplifies the product recommendation process by quickly and easily comparing products in an existing portfolio to over 10,000 products in iRate and generating a shortlist that match chosen key criteria.

The short list provides a side by side comparison of key product information and attributes, so Advisers are then able to identify the most suitable products for clients and demonstrate that they have undertaken a detailed product review to meet their best interest duty and compliance obligations.

Lonsec CEO, Mike Wright, said “In all our discussions with Advisers, demonstrating best interest duty obligations has been a pain point for many of them.  In developing this simple to use tool, we are providing Advisers with impartial methodology and rationale for their product recommendations and saving them time by embedding compliance into their advice process.”

Products Like This is available as a standard tool within iRate® and is fully integrated into the existing product search, portfolio construction and quantitative analysis tools with iRate®. Product comparison reports can be exported and easily appended to client files.