DST Systems will soon add an online tool to its Vision product that will allow investment advisers to group client accounts from multiple fund and variable annuity complexes into their own portfolios, the company announced today. The new feature, called Advisor Defined Portfolios, is scheduled for general release on Feb. 4.
The feature is intended to increase adviser productivity by simplifying multiple manager accounts. For example, the product allows advisers to print asset allocation and multi-management company client reports and summary statements, according to DST.
The created portfolios can also serve as parts of what DST calls households, which link related portfolios. Both the portfolios and households can be named and saved, according to DST.
The firm began developing the tool last March and began testing it with 40 advisers in November. There are now 100 advisers using the feature, but the official launch date is in February.
Vision, the portal on which Advisor Defined Portfolios runs, is free for financial advisers, and currently has over 151,000 registered users. The portal includes the funds of 261 fund firms with nearly 70% of dealer-distributed funds.