Consultancy and software provider the lang cat has added managed portfolio services (MPS) to its suitability software.

It has bolted on a suitability and comparison module to its regtech system, Analyser, at no additional cost for premium users.

Financial Planners can use the system to create quick comparisons or full due diligence reports, with the Analyser software automatically documenting the process to demonstrate compliance with regulations.

Planners can also run reports across MPS ranges comparing price, performance, business information and other key areas of functionality.

Terry Huddart, head of proposition at the lang cat, said: “Analyser is designed to help advisers and planners evidence their MPS shortlisting and selection process simply, effectively and with a clear audit trail.

“We are very grateful to all the users who have helped us validate the functionality and the providers who have stuck with us through the testing phase.”

The annual subscription cost for the Analyser software has remained the same at £300 + VAT.

The software has launched with 13 providers, with more to be added.

Leith-based the lang cat said Financial Planners can request that any particular MPS provider be added to the system.

Analyser was launched in February 2020 and is built on the company’s database.

The lang cat has expanded in recent years, recently recruiting Tom McPhail, the high profile former Hargreaves Lansdown pension spokesman as its director of public affairs.