Investment policy
statement (IPS) software.

Investment policy statement software generates a client-specific IPS from data the advisor has already gathered, instead of copy-pasting it into a Word template. Investipal builds the document from the client record, driven by the composite risk profile and the goals tied to each account. The result is a consistent, signable document with an audit trail behind it.

An IPS generator assembles the document from structured inputs, typically the risk assessment, the client objectives, and the target allocations. In Investipal, advisors run three steps from the client record: the IPS questionnaire, Goals, then the IPS. The generator uses your firm’s IPS template, and the finished document can be shared or exported.

Yes. Upload your IPS as a Word (.docx) file and Investipal turns it into a firm template, suggesting a fill-in field for each client detail for you to confirm. Your policy wording stays as written, and sections can show or hide based on the client’s questionnaire answers.

Yes. In the IPS editor, make any section conditional on an IPS questionnaire answer, such as the account type, and add an “otherwise” version if you need one. Each client’s IPS shows only the sections that match their answers.

When portfolio monitoring is enabled for your firm, Investipal checks managed accounts each business day against the IPS allocation for each asset class, within your firm’s tolerance (5 percentage points by default), and against a single-stock limit (10% by default). Compliance sends out-of-range alerts to the advisor as tasks, which close when the account is back in range. Allocation alerts can be approved as exceptions with a reason, and single-stock alerts are acknowledged with a note.

In Investipal, each IPS is built from the client’s IPS questionnaire and goals, firms can require compliance approval before an IPS is downloaded, and the signed document is filed with the client record. When portfolio monitoring is enabled, compliance also sees managed accounts that have no IPS target allocation yet, so goals and targets get set.

Advisers Act Rule 206(4)-7 requires registered investment advisers to adopt written compliance policies and procedures, review them at least once a year, and name a chief compliance officer. Many firms’ policies cover how portfolios are checked against client guidelines such as the IPS. When portfolio monitoring is enabled in Investipal, the business-day check, the exceptions approved with a reason and the tasks sent to advisors keep a record of that review. Firms should confirm what their own policies require.

A complete IPS covers the client profile, investment objectives and time horizon, the risk profile, target asset allocations with any restrictions, monitoring and review procedures, and signatures. Investipal populates each of these sections from the client record so none get skipped. The walkthrough above shows what each section contains and where it comes from.

Not universally. There is no blanket legal requirement for retail advisors to produce an IPS for every client, but it is a widely followed fiduciary best practice and many firms require one by policy. An IPS documents why a portfolio is built the way it is, which is exactly what a review or an audit asks for. Firms should confirm what their own compliance policy requires.

A financial plan covers the client’s full financial picture, including goals, savings, insurance, and retirement projections. An IPS governs how the investment portfolio is managed, including objectives, risk profile, allocation targets, and review procedures. The plan describes where the client is going. The IPS sets the rules for the portfolio that helps get them there.

Yes. Investipal includes built-in e-signature with recipient tracking, so the advisor can see who has signed and who is outstanding. The signed IPS is stored in the document vault with the rest of the client record.