Transact has launched a tool to allow advisers to more effectively support families with their intergenerational planning needs.
The ‘Family View’ tool was designed to provide clients with a 360-degree view of their family’s estate across their various portfolios.
Inspired by client feedback, Family View allows clients to view the portfolios of other family members without having to log into multiple accounts separately.
From one account, they can see the portfolio value and investment summary of another, enabling easy alignment on investment strategies and planning across generations.
In the first few weeks of launch, 3,800 portfolios adopted the function, and 7,400 added it after the first two months it was available – around 3% of portfolios.
Access granted to view another portfolio does not allow instructions to be executed on behalf of family members.
Equally, access can easily be revoked anytime by an individual changing the settings within their Transact portfolio.
Transact has seen a 41% increase in logins for clients with Family View set up.
Tom Dunbar, chief development officer at Transact, said: “Intergenerational planning is a complicated process that is increasingly front of mind for advisers and their customers.
“Having a breadth of functionality, wrappers, and options in an offering is crucial in allowing advisers to support families in effectively planning for the longer term.
“Family view is our latest development in response to adviser and client feedback, and we have seen excellent levels of adoption so far.”
He concluded: “We’re looking forward to continuing to advance our intergenerational planning offering to the adviser community moving forward.”
