Novia has launched a tool that allows advisers to calculate and benchmark the rate of return across a client’s total portfolio or according to individual wrappers.
The Portfolio Performance Review tool factors in all monies and investments, all sales and maturities, and all charges to demonstrate the rate of return and how the portfolio is performing.
Advisers can also set their own benchmarks according to investment needs.
CEO Bill Vasilieff says: “Reconciliation is often the nightmare task for any adviser, especially for clients with a very active portfolio.
“Advisers can be looking at literally hundreds of separate transactions, and working out the actual rate of return has been time consuming at best, and practically impossible at worst.
“By taking into account all money in and out of a portfolio over a given time period, including any charges, an adviser can demonstrate how the actions they have taken have performed compared to a benchmark, which can be especially important in a volatile market.”
The tool is available from Novia’s extranet.