iTrak users now have instant access to Financial Express’ Portfolio Scanner technology, fully integrated with their client portfolio data without the need to re-key any data. The graphical fact-sheets produced show clients a detailed breakdown of their assets, held within a specific portfolio or allocated to a specific objective, complete with the performance of those funds against the benchmark, top 10 holdings, sector, geography and asset allocation breakdown along with the FT Fund Ratings for each fund.
Other key features supported in version 2.1 include:
- Asset Allocation Administration, which allows advisers to specify a lower level breakdown of fund asset allocation. This is specifically designed to improve the portfolio modelling for complex funds such as managed and international funds. The adviser can now see a truly representative view of the sectors across which the client’s assets are distributed.
- Fund Information Wizard , providing an easy and quick way to download the latest providers, funds and other instrument details, helping to cut down on administration costs.
Mik Cons, managing director of 1st, explains:
“iTrak is the ideal front-end tool to accompany wrap services and when used in connection with Adviser Office’s financial planning suite, with the Tillinghast stochastic modelling, enables an end-to-end financial planning process from proposal, planning, execution and review in a straight through process with no re-keying of data. We are really pleased with the latest version which has been developed based on user feedback.
“iTrak helps advisers move to a fee-based advice model based on a strategic asset allocation modelling rather than product sale. Using iTrak’s portfolio monitoring will help advisers justify their entitlement to trail commission.”
The new functionality of version 2.1 builds on the existing strengths of iTrak, allowing advisers to:
- Identify an optimum investment strategy
- Produce client reports , presentations and recommendations
- Provide regular client reviews with greater efficiency
- Gain immediate access to FT Fund Ratings, Financial Express Prices, Factsheets & Portfolio Scanner
- Automate portfolio compliance monitoring including time horizon monitoring
- Analyse and build portfolios with data fed straight from Adviser Office
- Benefit from an additional layer of remuneration
Paul Adams, operations director, Rowan Forrester Ltd, comments:
"By providing links to truly independent research tools such as Financial Express's Portfolio Scanner and the FT Fund Ratings, iTrak helps the adviser demonstrate true unbiased independent research in the eyes of the client. Add to this the already powerful tool that iTrak is from the adviser's point of view in monitoring client investments and there is nothing else quite like it"
iTrak is available as a stand-alone product for financial intermediaries and wealth managers at the cost of £125 per month. A variety of training packages are also available for groups or individuals. Existing Adviser Office users pay only £75 per month for the integrated iTrak system, which includes an Adviser Office laptop licence.
iTrak has a growing number of IFA firms as clients including Inter Alliance and Whitechurch network members.