Ascentric has launched a tool to help advisers assess the projected income of portfolios.
The income forecaster tool is powered by FundsLibrary and forecasts how much income can be generated in a portfolio both monthly and annually.
It will use fund data to analyse the yield in a portfolio and estimate its likely future income figure.
Ascentric managing director Jon Taylor claims the service is the first of its kind to be available through a platform.
He says: “Pension freedoms have created a lot of complexity around planning for retirement. In the current environment of low interest rates it is increasingly important that advisers and clients have access to the right information to help navigate the challenges they face.”
Ascentric says the tool is not meant to replace or reproduce existing cash generator tools and has no charges.
It is based on funds aimed at income generation, but the platform is also looking to include equities, investment trusts and exchange traded funds in the future.