1st upgrades iTrak wealth management software
1st, the leading supplier of integrated technology solutions for financial advisers, today announced the launch of the latest version of iTrak, the personal wealth management software, available as a stand-alone product for professional advisers, wealth managers and financial intermediaries.
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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."