A new web-based investment fund selection system for UK independent financial advisors, fundSIFtA, has been launched by SIFA/sIFAc, the supp...

A new web-based investment fund selection system for UK independent financial advisors, fundSIFtA, has been launched by SIFA/sIFAc, the support group for solicitor and accountancy firms' financial advisors.

According to SIFA, the service is the first to include the entire population of collective, life, pension and offshore funds available to UK indepednet financial advisors.

Powered by MoneyMate, the system short lists funds on comparative qualitative criteria then analyses and compares the short listed funds on six critical risk measures selected on the advice of leading fund managers. It then produces user-friendly reports for the compliance record.

fundSIFtA is available for a monthly subscription of £95 ($168.1) + VAT for the first user and £70 + VAT for each additional user with discounts available for SIFA/ sIFAc members.

Ian Muirhead, managing director of SIFA/ sIFAc, said in a statement: “This is the tool investment IFAs have been lacking - one which enables them to look beyond the broad-brush ratings provided by the ratings agencies and to decide for themselves which are the most suitable funds for their clients.”