IOOF today announced the introduction of a new re-weighting function to IOOF Pursuit, which makes re-weighting clients’ portfolios easier than ever before.
The new re-weight functionality, available in Pursuit’s online portal Portfolio Online, allows advisers to choose how to re-weight client portfolios seamlessly, either immediately, or at a specified date in the future.
Advisers can choose between an immediate action and re-weight clients’ managed investments and cash to a desired percentage, or alternatively establish a facility to automatically re-weight to the client’s pre-determined instructions on a quarterly, half yearly or annual frequency.
Chris Weldon, IOOF Head of Product, said that “IOOF Pursuit has always had manual rebalancing functionality, but the addition of auto-rebalancing will come as a welcome relief for the many advisers seeking a platform with capabilities that make a real difference to their back office.”
“The introduction of automatic re-weighting is a new addition to the raft of recent enhancements made to IOOF Pursuit. Our aim has always been to provide advisers with simple, yet sophisticated online trading and transacting solutions, and this new functionality is yet another improvement.”
“Automatic re-weighting means significant time and cost savings for advisers, because it will allow them to automatically keep clients’ portfolio asset allocations in line with their investment goals . Advisers will be better able to manage client expectations, maintain risk profiles and reduce portfolio volatility.”
Other recent enhancements to IOOF Pursuit in recent months include:
• A redesigned, intuitive trading portal that allows advisers to place buy and sell transactions on all investments in one place, including managed funds, shares and term deposits (buy only).
• An advanced corporate actions portal that allows an adviser to respond for one or many clients and eliminates the need for manual paperwork.
• A maturing investments portal which identifies clients with maturing investments and allows advisers to submit instructions for single or multiple accounts online in a matter of minutes.
• A standing instructions portal that allows the adviser to submit new or amended instructions with ease.
• An online withdrawals portal that allows advisers to submit online withdrawals requests, with same day receipt of funds when requests are placed by 3pm AEST and the clients bank account is held with one of the big four banks.
In conclusion, Mr Weldon said that “the enhancements to IOOF Pursuit are all about giving advisers simple, yet powerful tools to improve the value of the advice they offer clients.”
“IOOF Pursuit is one of the largest retail platforms in the market with $15.9 billion in funds under administration as at 30 June 2016. These improvements in functionality will ensure that it maintains its market-leading position with advisers.”
