Pension and investment planning software provider Selectapension has launched a new tool which enables advisers to compare the investment marketplace with MPS, multi-asset funds and pension funds.

The company says its new Portfolio Insight tool will allow advisers to carry out comparisons and due diligence across the investment marketplace for clients.

Among the features offered by the new tool are comprehensive MPS comparison, all of market due diligence, performance insights, risk and asset allocation analysis and client and compliance support.

The new tool will also help advisers with Consumer Duty requirements by providing an audit trail for compliance purposes.

In terms of performance analytics, the tool will provide historical performance of model portfolios and help advisers compare the costs of the products and platforms which have access to preferred portfolios.

Multiple portfolios can be compared side by side by the tool, Selectapension says. This allows MPS performance to be compared against other funds and portfolios.

There are also benefits from automation of processes to save time and a new user interface, according to the company.