Smartleaf has launched Target Templates, a new feature to its overlay software which is designed to reduce the time and complexity of providing customised portfolio management services to clients.

“Targets" are blends of model portfolios, which combine a firm-recommended asset allocation and model portfolio selection. Using the Target Templates feature makes it easier for advisors to adjust asset allocations and/or model portfolios used, while adhering to all firm guidelines, according to Smartleaf. Updates and changes to the guidance defined in Target Templates are also automatically cascaded to all modified versions of the original template.

“This new feature is changing wealth management by allowing firms to deliver a service that combines the consistency and efficiency of a mutual fund with all the advantages of a personal account,” said Jerry Michael, chief executive of Smartleaf.

Founded in 1999, Smartleaf has some $50 billion in assets under management, and is a privately-held firm based in Cambridge, Massachusetts.

To view an interview with Michael, click here.