The Exchange launches product research tool

Smart Search has been designed to provide uncomplicated, fast and accurate product focused research from all the major providers in the intermediary marketplace. The data is presented in a simple tabular format and can be filtered using a maximum of 5 product features to meet specific client requirements. Results can then be stored under the client’s file within Exweb, increasing levels of compliance, and product summary reports can be produced to support the advice process. The product data is then monitored and updated monthly.

Smart Search covers life assurance, critical illness, income protection, retirement planning, house purchase, investments and offshore investments. Advisers can either pay £3.00 per product research report produced, or a monthly fee of £7 for unlimited use of each individual product category. For firms subscribing to all three protection categories the price will be discounted to £15 per month.

Smart Search replaces the product databank research services previously available on Exweb and further develops the ‘Research, Quote & Buy’ functionality recently launched on the portal. Existing users of the product databanks service will automatically have access to Smart Search.

Smart Search is exclusively available via Exweb and represents a customised version of Synaptic’s full research software, Product Manager. For both additional product and client focused research, Product Manager offers the opportunity to select product features from a listing, combined with ranking criteria, including past fund performance and financial strength, a audit trail and suitability reporting.

The launch of Smart Search forms part of the strategic alliance formed by The Exchange and Synaptic Systems earlier this year that saw the integration of research, quotation and new business services to provide intermediaries with integrated technology service that reflects their business process.

David Child, managing director at The Exchange, comments: “We are continually endeavouring to ensure that Exweb can provide a complete one-stop-shop for all a financial adviser’s technology services. The introduction of Smart Search on Exweb will provide an easy to use and cost-effective research solution complementing our core product offering.”

Selwyn Herring, chief executive at Synaptic, comments: “As part of the working partnership with The Exchange, Synaptic has developed an additional research solution to provide users with ‘freedom of choice’ when it comes to choosing the product to best suit their business. Smart Search ensures that Synaptic remains a pivotal component of the business process for financial advisers, with a range of solutions from basic through to detailed product data requirements.”