WealthO2 managing director Shannon Bernasconi said while the platform’s portfolio construction already allows for client strategies to be tailored, the new role expands on that scalable tailored functionality.

“The new rebalance tool provides even more efficiency when managing complex high-net-worth client portfolios, and also provides the tools to better execute on the investment advice while ensuring the resulting asset allocation of the client — and their risk profile — is maintained,” she explained.

“The new rebalance allows for much higher levels of customisation, whether it be to time the execution of a specific asset class only, or to execute on a specific model within the client’s overall model portfolio.”

It also allows for dynamic calculations based on the user’s selection or deselection of trades and adjustments to them.

This dynamic calculation, she said, allows the adviser to see not only the impact on cash and liquidity, but also the resulting asset allocation or model percentage of the total portfolio. Additionally, it allows for trading transactions to be undertaken in dollar or units, or as a percentage of the total portfolio.

Ms Bernasconi said now more than ever, diversification, risk management and agility play a key role in protecting against the financial erosion of clients’ investments.

She noted that managed accounts under discretion, including separately managed accounts, have been seen by ASIC as potential enablers of simplistic cookie-cutter advice that isn’t tailored to the client or market conditions.

The new rebalance functionality, she said, responds to the adviser need for high levels of customisation.

The new rebalance functionality is the first to be launched under WealthO2’s new application user interface. A rollout of further dashboards and new functions and features is being delivered during 2020.