AJ Bell has integrated a new capital gains tax tool into its online investment platform for financial advisers as part of a wider digital strategy.
The service lets advisers monitor capital gains and losses for each investment held in General Investment Accounts (GIA) on its Investcentre platform.
Features of the tool includes a ‘what if’ function, which enables advisers to enter projected sales amounts on holdings in client portfolios to estimate its effect on capital gains tax.
The tool can also be adjusted to take into account realised gains made outside the AJ Bell GIA. Book costs for investments can also be edited if they have been transferred onto the AJ Bell platform. .
The unveiling of the tool follows the launch of a new beta site which, according to the firm, incorporates a re-designed user interface, a new dealing area and improved navigation, filters and intuitive text search to help users find clients and information quicker.
Billy Mackay, marketing director at AJ Bell, said: “One of our core aims as a business it to make it easier for advisers and their clients to invest money. Our digital strategy project will deliver a number of initiatives that all set out with this central objective. We regularly seek feedback from advisers on their preferred enhancements.
“A CGT tool with ‘what if’ functionality has topped the wish list in every piece of research done over the last 2 years. With this in mind, we have been delighted with the initial response to the tool with feedback from initial user groups being very positive.”
Adviser view
Ben Sear, managing partner at Suffolk-based Martin-Redman Partners, said: “CGT functionality is something that should come as standard in my opinion. Depending on how it works, the tool should be helpful to advisers.”
