Portfolio Balancer, the financial planning tool designed by Vixalun for Winterthur Life, has scooped the award for ‘Best online investment modelling tool’ in the Pensions Management Technology Awards 2005.
PM’s judging panel stated that there was little to separate the entrants, with very few tried and tested products on the market for very long.
The panel voiced their concerns over investment modelling tools that operate as black boxes with little known about their workings.
Jo Smith, Director of The Retirement Maze:
It is important who provides the engine behind the tool. There are a number on the market but how credible is that engine? No one ever tells you which is being used. There will be a proliferation over the next six months, so that each provider will have its own, but nobody will know which that is.
The judges felt Winterthur’s offering was way ahead of the game as it did as best overall IFA website in 2004.
Jo Smith, Director of The Retirement Maze:
It invested in a very robust piece of technology, which, because of its market, isn’t product focused. It’s about application and that’s why they stand out.
Nick Cann, CEO of the Institute of Financial Planning
Winterthur is trying to focus on the professional end of the market and what it thinks its target market want. The limited feedback we have from our members suggests that Winterthur is achieving that.
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