Defaqto, the UK’s most trusted source of financial product and market intelligence, today announced that it has further enhanced its robust DFM proposition for financial advisers via a new partnership with Financial Strength ratings leader, AKG.
Its proprietary adviser software platforms, Engage and Centra, will now incorporate AKG’s DFM Financial Strength ratings, providing more data to users and further supporting advisers in their due diligence process.
Defaqto has been at the forefront of DFM research for more than a decade and holds information on 235 DFM propositions from 122 DFM firms. It also holds details on more than 2600 individual MPS portfolios and publishes performance figures on circa 90% of those.
The addition of AKG’s DFM Financial Strength ratings to its database will add to the breadth and depth of the data available in Engage and Centra.
Defaqto’s adviser software already displays AKG’s Financial Strength ratings for platforms, as well as for protection, pension and bond providers, and Defaqto’s MI shows that AKG’s ratings are one of the most widely used filters by advisers.
John Milliken, Defaqto CEO, said: “Defaqto and AKG are both long established leaders in financial services ratings and market intelligence with decades of experience. Our approaches to data collection and analysis for advisers complement each other perfectly. We research and analyse product feature benefits in-depth within the DFM market and AKG assesses the financial strength of companies at an operational level. By combining our intelligence, advisers using Engage or Centra can easily and efficiently access extensive information on DFM propositions and be confident they are providing the best solution for clients.”
Matt Ward, Communications Director, at AKG said: “Our DFM Financial Strength ratings were launched seven years ago and we are delighted to see them added into Defaqto’s tools for advisers. Consistent with all our ratings across sectors, these are designed to support advisers with their research and due diligence exercises. By being housed in Engage, it offers easy access to company-level information that will save advisers time whilst also improving customer service. We know that AKG’s ratings are one of the most highly utilised features within the tool and we anticipate that the popularity of DFMs within the market will mean this rating is also widely adopted by advisers.”
Defaqto’s platforms help advisers to make smarter financial decisions and are used by more than 30% of UK IFAs. Currently, the five most recommended Discretionary Fund Manager propositions in Engage are RBC Brewin Dolphin, Brooks Macdonald, Rathbone Investment Management, Quilter Cheviot and Investec Wealth & Investment, all of whom receive a rating from AKG.