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Defaqto launches income drawdown tool

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Defaqto, an independent financial information and technology business, has launched its new Income Drawdown workflow within its financial planning software, Defaqto Engage.

Defaqto’s unique Income Drawdown workflow, which is free to existing Engage users, allows advisers to assess the impact that drawing a regular income has on a clients’ accumulated wealth.

As with accumulation strategies, the Income Drawdown workflow factors in the probability of volatile markets but, importantly, it also considers the potential impact of sequencing risk. Something that, to date, other financial planning software tools don’t do.

Having understood the client requirements in terms of income level and duration, the adviser can use Engage to calculate the sustainability of that income using different asset allocations. They can also look at the potential impact of sequencing risk, both concerning its effect on the longevity of the income stream and the residual value left at the end of the term. 

The new workflow is end-to-end. It not only models the situation but also identifies a selection of suitable investment funds.

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