The 2016 Defaqto Star Ratings have recently been released, ranking various products’ quality in over 50 different areas. For the sixth consecutive year, Just Landlords has been awarded a five-star rating.
Who are Defaqto?
Defaqto is an independent researcher of financial products, with a focus on giving intelligence in order to support better decision-making.
By gaining data from across the market, Defaqto is able to maintain and update the UK’s largest retail financial product and fund database.
From here, the firm is able to create ratings, software solutions, data services and publications in order to deliver results.
What are the Defaqto ratings?
The Star Ratings from Defaqto are a trusted industry standard for analysing the quality and thoroughness of a financial product. Supporting business acquisition and customer retention, the ratings are a simple way of communicating the quality of a product to new and existing customers and/or intermediaries.
Through the Ratings, Defaqto assesses key features, benefits and terms and conditions of each Star rated product or policy.
Alongside being a simple way of communicating the quality of a product, the ratings give staff and greater understanding and confidence in selling products.
Defaqto’s ratings are based upon:
- an independent, unbiased product assessment
- a stringent and consistent methodology
- open and transparent processes
- quality of products and not providers
- publicly available data
In excess of 120 brands are now licensed to utilise Star Ratings within their marketing correspondence. More advisors are using these Ratings more often as their main basis for product selection.
Each product assessed by Defaqto is ranked from 1-5 Stars and are defined as:
An excellent product with a comprehensive range of features and benefits
A product with a good level of features and benefits
A standard project providing an average level of features and benefits
A product typically offering a below average range of features and benefits
A basic product, with a low level of features and benefits