AJ Bell, a UK-based financial services firm, has introduced a new suite of cash management tools for financial advisers on its Investcentre platform.
Designed to assist advisers in managing their client portfolios, the new tool will make cash movements easier to set up and manage in order to facilitate adviser charges, platform charges and income withdrawals.
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The cash management tool will also facilitate advisors in viewing summary of transactions in and out of client accounts, and creation and management of cash movements within the platform and regular disinvestments.
AJ Bell in a statement said that there will be no additional administration fees for using the tools, and no dealing charges for regular disinvestment transactions.
The firm is also planning to expand its platform, including the roll out of a managed portfolio service based on low-cost passive funds.
AJ Bell marketing director Billy Mackay said: "We want to deliver functionality that makes it as easy as possible for financial advisers to manage their client’s investments. Cash management has increased in importance following the RDR and the pension freedoms so this fits well with that aim."
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By GlobalData
