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Defaqto launches Auto-Enrolment Star Ratings

Wednesday 2nd July 2014

Defaqto, an independent researcher of financial products, has launched new Auto-Enrolment Star Ratings to help financial advisers and small and medium size enterprises (SMEs) navigate the auto-enrolment wave. 
Rating schemes from 1 to 5 Stars, the firm categorises products based on the quality of the proposition being offered, with only the most comprehensive schemes getting a 4 or 5 Star rating.
Auto-Enrolment Star Ratings provide an at-a-glance view of where a wide range of qualifying schemes sit in the market – Star Ratings cover 40 auto-enrolment qualifying schemes from across 18 providers.
Richard Hulbert, Insight Analyst at Defaqto, said: “The Pensions Regulator suggests SMEs start to plan for auto-enrolment a year in advance. However, their own figures show many start the process much later. SMEs beginning the process late are limiting the advice they could be receiving on payroll improvements (which could cost them thousands of pounds over time) and the providers willing to accept them. Both factors make it difficult for advisers to help them.”
“Our software empowers advisers to undertake research on all known solutions based on the SME’s workforce, needs and available time to staging. Defaqto’s Auto-Enrolment Star Ratings give advisers an at-a-glance view of the market and help them segment this growing market,” he added.

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