The UK wrap platform said the tool reduces the need for manual rebuilding of portfolios.

Ascentric has launched a portfolio cloning tool, designed to help advisors and discretionary fund managers improve efficiency when using its model portfolio service.

The tool, especially useful when there is some similarity with a previously created model, seeks to allow advisors to create portfolios at least 50 per cent faster than before. 

There are 600 advisor firms using either their own or DFM managed portfolios on the Acentric platform. Over 2,700 model portfolios have client wrappers linked to them and in total there are 50,400 client wrappers using model portfolios.  

“Providing advisors with the right tools to increase their efficiency and accuracy is crucial. The introduction of the cloning tool reflects the continued success of our model portfolio offering and our ongoing efforts to continually meet the changing demands and needs of advisors,” said Justin Blower, head of sales at Ascentric.

The launch follows that of Ascentric’s income forecaster tool, released last month. That tool is designed to help advisors assess the projected income of any portfolio.