Building Innovative Pension Journeys for Accumulators

Wealth 2.0: Industry Outlook

The world has shifted from generous defined benefit pension schemes to requiring people to take more control over their financial situation at retirement. Consequentially, the demand for tools helping consumers navigate through the intricacies of pension planning increased dramatically. It has been challenging for traditional providers to satiate this demand, due to both legacy IT infrastructure and the perceived complexity of the required transformation. However, as we progress into an increasingly digital future, there are few alternatives to redesigning traditional pension planning into accessible, consistent and automated offerings. If this is the journey you need to build, the OutRank API is sure to make it faster and more affordable without compromising on quality.

In the U.K., financial advice and wealth planning for the mass-affluent kicks-in as we approach or are in the early phase of our retirement. For Accumulators, who are time-poor and are building their asset base, the option to take independent financial advice is not compelling. As they navigate their careers, individuals collect multiple defined contribution occupational pensions. At some stage in their lives, they will pause to assess how suitable these schemes are to provide for them in retirement. Many wish to aggregate their existing schemes into a SIPP or Personal Pension but feel ill-equipped to do so. Government portals give some information, but currently, providers are still offering few tools to assist decision-making.

Helping You Build the Future of Wealth

Kidbrooke’s OutRank is an API for Wealth which enables pensions providers to build the next generation of pension journeys for Accumulators. Outrank delivers the next generation of decision-making tools for your customers, which are compliant by design, cost-efficient and research-based. If you are looking to build generic guidance tools to support better point of sale decision-making tools, OutRank delivers. If you are looking to develop and integrate a battle-tested robo-advice framework, OutRank delivers. If you want to equip your SIPP investors with analytics to support optimal decision-making and improved outcomes, OutRank delivers. Best of all, OutRank deploys seamlessly into your existing architecture, enabling you to sustain your current operational processes. OutRank contains all of the relevant technology out-of-the-box, but ultimately the final solution is yours to own.

 

For Financial Institutions of All Shapes and Sizes 

Pre-retirement Guidance

Pre-Retirement Guidance journeys equip our customers with richer tools to help the consumers visualise their retirement goals and encourage better decision- making by offering a complete analytical framework.

  • Scenario-based what-if analysis;
  • Improved product search tools;
  • Proactive nudges, delivering actionable analytics;
  • Pension-specific goal creation.
Robo-advice Toolkit

Robo-advice toolkit enables financial institutions to construct a fully developed robo-advice model using battle-tested, cutting-edge technology. The automation of core Wealth operations is an excellent way to control costs and retain a tight grip on regulatory responsibilities while delivering a truly market-leading service.

  • Risk profiling and asset allocation framework, compliant with MIFID II;
  • Scenario-based what-if analysis;
  • Proactive nudges, delivering actionable analytics;
  • Introducing probability to goal evaluation;
  • Provides all quantitative aspects of customer documentation.
Analytics for self-investors

Analytics for self-investors is a collection of tools designed to help the self-investors make more defined, goal-specific investment decisions. The offering can also assist your clients in understanding investment fundamentals in a controlled, guidance setting.

  • Compliant financial decision support tool;
  • Customisable risk profiling framework;
  • Scenario-based what-if analysis;
  • Improved product search functionality;
  • Proactive nudges, delivering actionable analytics.

Where do you start?

Book a demo with us! We will walk you through the minimum viable pension advice structure powered by OutRank and explore the best ways OutRank would add value to your organisation. The solution is already powering fully compliant pension advice within one of the largest life insurance providers in the Nordics.