Raymond James Financial launched Portfolio Management Center, a portfolio management and research tool for its employee and independent-channel advisors.

The company announced Tuesday that PMC, which is part of the firm’s Advisor Access platform, is powered by FolioDynamix, an open architecture wealth management technology platform provider. The platform was named 2013 Advisory Services Solution Provider of the Year and 2012 Advisory Solutions Technology Innovation of the Year by the Money Management Institute.

“We selected FolioDynamix for its range of functionality and flexibility, creating efficiencies for our advisors who have discretionary trading authorization on behalf of their clients,” Vin Campagnoli, Raymond James chief information officer, said in a statement. “We have already rolled out new proposal and research tools, and are now launching upgraded technology for discretionary manager programs, all while providing a single, seamless Web interface for advisors.”

Over the past few months, PMC has received positive results and feedback from an array of advisors who piloted it.

“PMC has dramatically changed the way we trade and monitor our clients’ portfolios,” says Joel Faircloth, a Raymond James advisor in Portland, Oregon. “PMC not only allows us to reallocate all of our discretionary client portfolios within minutes, but we can do it with confidence because of the customizable trading rules and automated portfolio tracking. It’s like having a second and third set of eyes on the portfolios.”

Todd Knickerbocker, head of a Raymond James financial advisory practice in Northville, Michigan, added: “Our group has been very impressed with the intuitiveness of the new portfolio management trading platform as well as the support received from the home office. We primarily use it for trading our investment models and find it has allowed us to become much more efficient. It eliminated many of the cumbersome, manual functions found in the old system and really streamlined the process.”