Franklin Templeton Investments announced a new tool for advisors to create hypothetical portfolio presentations for their clients on Monday.

The tool, Advantages Hypothetical, is only available to financial advisors and it allows them to build a hypothetical portfolio to show clients using Franklin Templeton funds and funds from other companies in a single report.

Other tools are typically limited by the company that owns them, David McSpadden, senior vice president of Franklin Templeton’s Global Advisory Services said in a statement.

“Our tool is different in that it lets the advisor build a comprehensive portfolio from the entire universe of retail mutual funds available to U.S. investors, regardless of the fund family,” McSpadden said.

To use the tool, advisors select the investments for the portfolio and build the hypothetical by providing specific parameters for the investment amount, time period and distribution instructions. They can then evaluate the results based on an analysis of performance, correlation and risk comparison among other things. Finally, advisors can easily create client presentations customized with the selected report components, their contact information and the client’s name.

“Advantage Hypotheticals is a new tool financial advisors can use to produce a meaningful presentation for use with clients when making portfolio or fund recommendations,” McSpadden said.