Financial services consultancy the lang cat has added a pricing engine as part of an upgrade to its Platform Analyser adviser tool.

The Leith-based firm says the pricing engine, added as a v1.1 update to the software, will automatically select each platform’s standard fees and advisers can then add details of their own deals.

Criteria including portfolio size, wrapper split, switching and rebalancing activity, as well as retirement costs, can be used to create ad-hoc comparisons for specific clients and segments or as part of a wider platform due diligence exercise, says the lang cat.

Advisers can also incorporate CIP costs and advice fees to create an indicative total cost of ownership (TCO) for a range of portfolio sizes.

Platform Analyser was launched in February and is built on the company’s database covering 11,500 data points across 25 advised platforms.

Advisers can do both quick platform comparisons and full due diligence reports.

Terry Huddart, head of proposition at the lang cat, said: “Catering for special deals and bespoke pricing was the most common feedback request from our users. We’re delighted to have put that functionality into the hands of advice professionals, removing some needless opacity in assessing platform costs on behalf of consumers.

“The pricing engine is the largest piece of new functionality in V1.1 which also includes several other developments, all based on user requirements, and we’ll continue to add new features over time.”