Standard Life has launched a new suite of tools for users of its Wrap platform so advisers can match portfolios to cashflows and target natural income.
In a service the firm is calling Professional Portfolio Manager, Standard Life is also including the ability to exclude clients from a rebalance without moving them away from the model portfolio, and provide an audit trail of model portfolio performance down to the level of each instrument.
The firm claims the ability to stack trades will also help avoid conflicts between planning and investment processes, and rebalancing to control portfolio proliferation and drift would help support multi-portfolio drawdown strategies.
Standard Life head of UK propositions David Tiller says: “The enhanced functionality is central to supporting the transformation of adviser businesses to meet the evolving demands of the market.
“As we all come to terms with the post-pension freedoms client book, the ability to avoid conflicts between planning decisions and investment decisions, the ability to control portfolio drift, manage sequencing risk and to seamlessly execute multi-goal multi-portfolio strategies are now the benchmarks all post-freedoms platforms should aspire to.”
Since acquiring the Elevate platform off Axa and merging with Aberdeen Asset Management, who had themselves acquired Parmenion, the merged Standard Life Aberdeen now owns three separate platforms.
Wrap and Elevate, the Standard Life platforms, have a combined £56bn in assets under management.
Wrap advisers have had access to cashflow modelling tools since late last year.