AJ Bell has launched a tool to help advisers monitor and manage client capital gains tax (CGT) liabilities.
The tool allows advisers to see capital gains and losses for each investment held in general investment accounts (GIAs) on the AJ Bell Investcentre platform.
Advisers can then estimate how future asset sales will affect clients' CGT position using ‘what-if' scenarios that allow advisers to enter projected asset sale amounts on holdings in client portfolios.
To report on a client's overall CGT position, advisers can adjust figures to include gains made outside the AJ Bell GIA. Book costs -the price paid for investments - can also be edited if they have been transferred onto the AJ Bell platform.
According to AJ Bell, the tool's 'what-if' functionality is particularly popular as it enables advisers to model certain portfolio outcomes to gauge the impact any future disinvestments might have on their client's CGT liability each year. The provider said this made it easier for advisers to ensure clients are making the most of their annual CGT allowance.
The development is part of a wider digital strategy project on the Investcentre platform. AJ Bell has already launched a new test or 'beta' site that runs alongside the old platform site but incorporates the new features. These include a redesigned user interface, a new dealing area and improved navigation, filters and intuitive text search to help users find clients and information quicker.
AJ Bell said it had phased in the newer test site as it was conscious advisers may need time to grow used to the new elements of the platform.
Marketing director Billy Mackay (pictured) said: "A CGT tool with ‘what if' functionality has topped the wish list in every piece of research done over the last two years. With this in mind, we have been delighted with the initial response to the tool with feedback from initial user groups being very positive.
"Introducing the beta website alongside our existing one will allow users to gradually get acquainted with what will be a very different look, feel and user experience."
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