AJ Bell has launched a new suite of cash management tools for financial advisers.

The upgrades on its Investcentre platform are designed to make it easier for advisers to manage their client portfolios, the company said in a promotional announcement.

There are no additional administration charges for using the tools, it said, and no dealing charges for regular disinvestment transactions that are established using them.

AJ Bell said the changes are aimed at making cash movements easier to set up and manage in order to facilitate adviser charges, platform charges and income withdrawals, a particular benefit following the increase in income drawdown as a result of the pension freedoms.

The tools are designed to enable advisers to view an at-a-glance summary of transactions in and out of client accounts and create one-off and regular cash transfers between a client’s Sipp cash account and their Funds & Shares Service cash account, or vice versa.

Billy Mackay, marketing director at AJ Bell, said future expansion of the platform this year will include the launch of a managed portfolio service based on low-cost passive funds.

He said: “We have invested retained profits back into the platform over many years and continue to do that to ensure it evolves in line with the changing needs of advisers and their clients.

“We want to deliver functionality that makes it as easy as possible for financial advisers to manage their client’s investments.

“Cash management has increased in importance following the RDR and the pension freedoms so this fits well with that aim.”