Named Vantage, the service gives Financial Planning firm owners and managers a dashboard to help analyse the business the firm has been doing and take stock of assets under management.

The dashboard looks at all business done on the Parmenion platform, but does not allow Financial Planners to add information from other platforms.

On the dashboard Financial Planners can analyse their client base by average age, the amounts they are investing, the risk grades they select and the investment solutions and tax wrappers they favour at a firm level or broken down into teams or individual advisers.

The data is presented via charts and graphs to help advisers spot any trends among clients.

Laura Barnes, head of intermediary distribution at Parmenion, said that while the data capabilities of the platform have always been accessible to clients behind the scenes, Vantage puts "the power to cut and use that data" in their hands.

The dashboard will be made available for existing Parmenion platform users this month via its secure site, at no additional charge.

A spokesperson told Financial Planning Today that the platform chose to host the dashboard within its secure site and has implemented further levels of access controls due to concerns about the sensitivity of the data the Vantage dashboard displays. 

The dashboard was piloted by a number of Financial Planning firms before launch. One of these Financial Planners was David Burridge of Paradigm Norton Financial Planning who said: "Data is crucial for any great Financial Planning business looking to serve its clients forever and build for the future."

The platform said that additional functionality will be developed following client feedback and added to the dashboard at a later date.