IOOF launches new feature for portfolio management

IOOF has introduced a new re-weighting functionality to its IOOF Pursuit service, in an effort to drive greater efficiency for financial advisers in managing client portfolios.

The new re-weight functionality, available in Pursuit’s online portal Portfolio Online, allows advisers to choose how to re-weight client portfolios seamlessly, IOOF said in a statement last week.

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 predetermined instructions on a quarterly, half yearly or annual frequency, the firm said.

IOOF head of product, Chris Weldon, said, “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.”

“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," Mr Weldon said.

“Advisers will be better able to manage client expectations, maintain risk profiles and reduce portfolio volatility,” he said.

“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,” the statement said.

“These improvements in functionality will ensure that it maintains its market-leading position with advisers,” Mr Weldon added.

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