The UK wrap platform Ascentric has launched what it calls the Key Features Builder Tool for financial advisors, a product developed with fund information provider FundsLibrary.

The tool aims to generate a single document that contains a summary of the risks, aims and performance of the product wrappers and funds selected by the advisor. Ascentric said the product goes beyond standard illustrations by showing the impact of fund specific charges as well as the costs associated with the transaction on the portfolio growth rates.

The Key Features Builder covers: advisor charge, fund manager charge, product wrapper charge, Ascentric charge. These features enable advisors to provide clients with a picture of all the charges and the impact these have on their total expense ratio.

The UK regulatory programme known as the Retail Distribution Review, which is forcing financial advisors to be more transparent about charges and fees, is helping to drive use of such technologies, said Richard Goodall, sales and marketing director at Ascentric.