IFA interest

On-line school fees site www.allaboutschoolfees.com has reported a surge of interest from the IFA community in its on-line school fees modelling tool.

Jane White, spokesman for the company says “we originally designed the software for parents, to help them determine what their expenditure – and savings – requirements would be over the life of their children’s private education. What we didn’t realise is how incredibly useful this tool would be for Financial advisors. We have been delighted by the number of IFAs who have been in contact with us to learn more about the tool and request both discuss bulk purchase and licensing deals.”

The tool uses powerful algorithmic software and the only complete database of both UK private school and their fees to generate bespoke fee schedules. The schedules can be per child or per family with infinitely customised of rates of inflation and savings growth, investment holidays and lump sums.

Mrs White adds “once a parent sees how much they need to save over an extended period of time, their next question is always “what should I invest in, and can it be tax-efficient?”. Our answer is that they need to speak to an IFA.”

The www.allaboutschoolfees.com modelling tool is available for a fee of £34.95 incl VAT per license (which allows for 4 children to be profiled), but the company will also set up bulk purchases of licenses for £23 incl VAT. As well as representing a large discount over the regular price, a bulk purchase avoids the need for individual registrations and cuts time spent making individual payments.

Jane also said “this tool takes the legwork out of creating school fee schedules. It creates a professional and reliable centre piece for any client report. When an IFA walks a client through an allaboutschoolfees.com report, there is simply no need to persuade them they need to buy an investment product – they’ll be asking you what to buy.”