It’s aimed at helping Financial Planners and advisers to provide clients with a holistic, 360-degree view of their family’s estate across their portfolios.

Transact points out that in the next few decades, trillions of pounds will be handed down from baby boomers to their children, making it increasingly important that platforms help advisers service their clients' inter-generational needs.

It said the new tool has been inspired by client feedback.

It will allow clients to view the portfolios of other family members without having to log into multiple accounts separately. They will be able to see the portfolio value and investment summary of another, allowing alignment on investment strategies and planning across generations.

However the tool will not allow instructions to be executed on behalf of other family members.

In the first few weeks of launch, 3,800 portfolios adopted the function and 7,400 added it after the first two months it was available – around 3% of portfolios, Transact said.

The platform has recently removed wrapper fees for JISAs and junior pensions for children up to 18 to further support inter-generational planning.

The changes follow the launch of Transact’s IHT index, which assesses the number of households that fall within IHT and the overall IHT liability in the UK.

Tom Dunbar, chief development officer at Transact, said: "Inter-generational planning is a complicated process that is increasingly front of mind for advisers and their customers. Having a breadth of functionality, wrappers, and options in an offering is crucial in allowing advisers to support families in effectively planning for the longer term.”

Integrafin, the parent company of Transact, reported advised client numbers on the platform rose to a record 231,581 in the three months to the end of March.