Platform and DFM provider Parmenion has added a new withdrawal dashboard, which it says is designed to help advisers when they need to view information about clients’ withdrawals.

The company said the new dashboard provides an adviser-level view of any ad hoc withdrawals clients have made from their accounts.

The withdrawal dashboard can be accessed from the main platform navigation bar.

Mike Morrow, chief commercial officer at Parmenion, said the addition of the feature came in response to adviser feedback.

He said: “We’re continually listening and innovating to try to make it easier for advisers to deliver to their clients.”

He said the new dashboard offers a detailed overview of withdrawals from client accounts in one place “which can be found easily with intuitive navigation on the Parmenion adviser platform.”

It includes the following key information for each transaction:

• Status of withdrawal
• Amount of withdrawal
• Type of payment (such as PCLS, UFPLS, third-party withdrawal)
• Method of payment, including nominated bank
• Filters to allow search by status or client
• Completed withdrawals, which remains visible for seven working days after payment is sent
• Client summary screen which shows outstanding and recently completed withdrawals

Parmenion was launched in 2007 to offer discretionary investment management, platform services and intuitive technology. It works with more than 1,500 UK adviser firms, with more than 70,000 underlying clients. It said it looks after £10bn-worth of investments.

Private equity firm Preservation Capital Partners acquired the Parmenion platform from previous owners Standard Life Aberdeen in March 2021 for "up to £102m".

Preservation Capital Partners (PCP) specialises in acquiring financial services businesses. It took a majority stake in wealth manager and Financial Planning firm Saltus in August 2022.