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QuietGrowth reveals new SOA feature

Robo-adviser QuietGrowth has unveiled a new feature allowing clients to modify their personal circumstances, receive a new statement of advice (SOA) and change their portfolio's risk tolerance at no extra charge.

According to a statement, the new feature, together with the 'multiple portfolios' feature introduced last month, provides investors – and, potentially, financial advisory firms  with an efficient and flexible way to manage changing investment risk exposure on an ongoing basis.

Clients will be able to update the risk tolerance of multiple risk portfolios once per month, the statement said.

QuietGrowth chief executive Dilip Sankarreddy said the new feature will allow clients to receive an online updated SOA for free.

"It will be simpler and more cost-effective for the client to regularly update their personal circumstances and adopt an investment program that is in line with their evolving financial situation and goals," he said.