A new service has been launched by Friends Provident that aims to make it easier for investors to keep track of their portfolio of investments .

The 'wealth management system', otherwise known as a 'wrap', is designed for affluent investors and provides online access to their investment portfolio and instant information on transaction histories, past performance and valuations.

Friends Provident also states that the system will be available on a range of products, including an offshore bond, a flexible offshore savings bond, self invested personal pensions and individual savings accounts , as well as a cash account.

Commenting on the system, James Ward, marketing director at Friends Provident, said: Our wrap is aimed at customers who are financially aware, have money to invest and who would benefit from a wide range of investment options.

It will free up time for our customers and their advisers so that they can concentrate on making their money work harder rather than on administering their portfolio.

Mr Ward added that Friends Provident feels that the system will provide significant growth in the future and is part of an emerging market.

Friends Provident was founded in 1832 and concentrates on several core businesses. These include providing life insurance and pensions products in the UK and overseas and asset management .