Product launch | online automated service consolidates all of a client's holdings
Hansard has launched its new automated online service that creates adviser-branded presentation packs on a client-by-client basis with detailed analytics on asset allocation and performance.
Free to users of the Hansard Online portal, the Personal Investment Portfolio service complements the current suite of intermediary services including client tracking, charge and commission breakdowns and a detailed asset allocation tool.
Paul Harwood, chief executive of Hansard Information Services, said: 'We have had an online service for four years, but this new service focuses on the needs of intermediaries.'
The system consolidates a client's holdings in various funds or policies, automatically calculating exposure by asset category, geographic region and sector. For example, performance of the current and historic holdings within the portfolio can be viewed and investment performance can be compared with a benchmark index of the client's choice. A client can also view the relative performance of a mix of funds and benchmark market indices. Economic overviews, reports and fund commentaries can also be viewed from the various investment houses.
Intermediaries can present a booklet to their clients that will give them a better understanding of the products and the nature of their investment choice. This booklet can be produced every few months to give clients an idea of how their investments are going. It can also be used for existing clients to create a review of their portfolio.
Hansard has been piloting the service with six intermediaries since April this year. The service was initially revised following the pilot project. The pilot project showed intermediaries wanted to see what funds were available and what their characteristics were. Hansard also added a 'favourite portfolios' option that is the intermediary recommendations.
Chris Eaborn, offshore adviser at Meridian Asset Management, said: 'The service adds value to the point of sale as it is customised to clients. Some people like lots of information, other people do not: the system allow you to tailor it to suit the client.
'The Personal Investment Portfolio is also not branded, so it looks like it is coming from the adviser. It is time consuming and expensive for the adviser to provide this information. Other systems only provide basic information such as current holdings and valuations. The Hansard system can do performance charts, asset allocation, historic valuations and value of policy against premiums paid. This makes it less confusing to clients and an adviser can justify advice much better.'
According to Eaborn, the offshore market is going to become more compliance orientated and the system will make the transition a lot easier.
Hansard offers more than 120 funds from 15 different managers. These include Fidelity, Invesco, JP Morgan Fleming, Investec and Morgan Stanley.
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