Welcome and Introduction 

Welcome

Introduction

Welcome to the 1-Day New User - Adviser Focus course. This course is aimed at providing new users with an overview of XPLAN and its various financial advice and administrative capabilities.

In this session, you will understand how XPLAN and the various functions within XPLAN will fit in with your current advice and business practice processes.

The course has been structured in a way that will provide you with an overall understanding of XPLAN as well as how the system can be applied to provide advice to your financial planning clients.

Pre-requisite

•  Have good knowledge of Microsoft Word and Financial Planning concepts.

Learning Outcomes

After completing this workshop, you will be able to:

• Understand XPLAN’s capabilities and functionality

• Navigate XPLAN efficiently

• Enter client details into the Client Focus module

• Use IPS to help manage the client’s portfolio

• Use Xtools+ to simulate possible client scenarios

• Use Risk Researcher to provide risk advice to your client

• Use XMerge to provide recommendations and generate a Statement of Advice for your client

• Have an understanding of the Client Management Tools available in XPLAN

• Have an understanding of how these tools can be used to complement your current business practices

XPLAN and the Advice process

Overview

In one form or another, many advisers use the “6 step Advice to client” process in the way they deal with their clients.

So as to enable participants to be able to relate to the different modules in XPLAN, this course is structured along the line of the “Advice to Client” process.

XPLAN and Financial Planning

The various components and tools in XPLAN have been created to support and complement the various stages in the process of providing quality and efficient recommendations to clients.

This course has been structured to complement the stages in the Advice to client process.

Navigating XPLAN

Overview

XPLAN is a web based financial planning software package that brings together the different stages in the advice process through the use of a number of modules and tools.

XPLAN enables delivery of advice to clients through integrated client management, modelling and portfolio management tools and applications.

The facilitator will demonstrate and take you through each module and tools and explain their functionality.

Logging into XPLAN

Overview

To login, access your designated website by typing in your website address, example: https://xplan.iress.com.au/(your company’s site)

1. The login page for your website is displayed
   
   
   
   
2. Enter your User ID and Password and click 

XPLAN Components

Navigating the Xplan Interface

The XPLAN interface is composed of three areas, the Title bar, the Navigation menu, and the current Page.

Title bar

The title bar contains a number of links and functions, and is always displayed.

Home, Add and Quicklinks lists:

Home - contains links to your User Dashboard, News and administration and module functionality (depending on your User Capabilities only some links may display) This button name can be customised and the default name is XPLAN from v2.1 onwards.

Add - allows for creating a new:

Client

Group

Professional Adviser

Referrer

Supplier

User

Diary Event

Note

Task

Thread.

Quicklinks - a customisable list where you can add links that you frequently access. All links in the Home list can be added as Quicklinks.

	Notification messages are commonly generated by XPLAN when a report has been generated. The number of unread notification messages displays beside the icon:
	Open a Time Taken Ticker.
	Access XPLAN Help.
	Access your Preferences. (Time zone, password, email signature etc)
	Logout from XPLAN.

Searching

The Quick Search box allows you to search for entities, notes or tasks.

Navigation menu

The navigation menu displays on the left of the currently accessed Page. It allows for navigation between modules and within the current module. When using a Wizard, the navigation menu can also display the pages within the Wizard, allowing you to move between pages as required.

Hiding the navigation menu

You can collapse and expand the navigation menu by clicking the expand/contract button:

When collapsed, the current page expands horizontally to fill your web browser.

Page

The current page displays in the Page area.

Client name - when a client has associated entities, such as a companies, trusts or SMSF, you can click the client's name and select an entity to access it.

Control buttons - buttons for the current page, such as for editing fields or moving between Wizard pages, are always located on the top-right.

Panels - some interface elements display as panels. Each panel is controlled by panel buttons. Like pages, panels can also have control buttons for editing the data within the panel.

Panel buttons - each panel has its own control buttons. Depending on the functionality offered by a panel, some or all of the following buttons may display:

Button	Function
Close	Close the panel.
Collapse	Collapse the panel. Only the panel title displays.
Expand	Expand a panel title to display the whole panel.
Configuration	Access the panel configuration settings, such as the information displayed.
Download	Download the contents within the panel, such as a chart.

 Hints & Tips

Dashboard is the default ‘home’ screen to load. Click on the dropdown next to Main to add tabs.
To add a Widget, lick the dropdown on an editable tab.

Select Add Widget to see the options available:

To navigate back to the ‘home’ screen, just click on the site logo. You can also open additional windows by holding down the ‘Shift’ key and click on the logo. ‘Ctrl’ and click will open new tabs.

There is no more ‘right click’ function as in previous versions, so Xplan is now usable on touch screens like iPads - everything is dropdown menus.

Getting Help

Overview

XPLAN has an Online Help function which provides the most up to date information on the different components and tools in the system. Interactive Tutorials are also available for viewing Training Workshops.

The Help files also provide updates on all new software versions.

Accessing Help

1. Click on the Help function located on top of the Title bar

   
   
   
   

2. The “Help” screen is displayed

3. Navigate using the menu bar located on the left.
   
   
   
   

4. You may also want to use the “Search” function available.

Accessing Interactive Tutorials from within the Help Files

1. Select “Video Tutorials” followed by “Training Workshops” from the menu bar located on the left:
   
   
   
   

2. Click on the workshop you would like to view:

3. A video will start automatically with a chapter menu available from the left side menu bar.

Creating a prospect / new client

Each adviser practice deals with leads, referrals and potential clients differently. However most practices will have a system where information of this client is recorded and where a note is made to contact the client either to make or confirm an appointment.

In this section, we will learn how details of a potential client or referral are entered into XPLAN.

Scenario

Robert from the law firm next door has referred his clients, Nick and Lynn to you.

Robert has advised them to see a financial adviser as they are planning on retiring in the next 10 – 15 years. Robert has given you some information about them.

As Nick and Lynn are prospects, you have decided to record their details as a new prospective client.

Client Details

Activity: Creating a new client

Work with the facilitator to enter the client’s details.

(In order to differentiate the client you created, use your own surname when you enter the client’s name):

1. On the Title bar, click on the “Add” button and from the dropdown select Add Client.
   
   
   
   
2. The “New Client” page is displayed:
   
   
   
   

3. Select “Individual” and click ;
   

4. In the “Basic Information” screen, enter the prospect’s details
   
   
   
   

5. To enter Lynn’s details, tick ;
   

6. In the Category field, scroll down and select “Prospective”;
   

7. To enter contact details, click ;
   

8. Enter Nick and Lynn’s contact details and click ;
   

9. Nick and Lynn have been created as new clients in XPLAN. Click on the  button to view the details you have entered.

Hint & Tips

• To navigate back and forth between the pages, use the  and  buttons.

• Minimum requirements to create a client in XPLAN are the client’s name, surname
  and gender.

Case Study - Nick and Lynn

In the first meeting, an adviser will collect all relevant information for the clients. This information is then used to formulate appropriate recommendations for the clients.

In XPLAN, client information is entered in the Client Focus component of XPLAN. These details can then be seamlessly transferred to other components e.g. Xtools+ and RISK RESEARCHER and be used to craft appropriate financial planning and risk recommendations for the clients.

Client Details

Fact Find Details:

Employment Details

Additional Information

Risk Profile

Lifestyle Assets

Liabilities

Superannuation

Income and Expenses

Insurance – Held Under MLC Super

Total Premium $350pa.

Family Trust Details

Financial Assets for IPS

Telstra for XTOOLS+ Purposes- Value $15,000 with a cost base of $10,000

Clients Objectives

• Boost retirement savings so that they are able to enjoy their retirement. They believe that they will need $40,000 p.a. to fund their lifestyle in retirement.

• To ensure that their superannuation fund is invested and managed appropriately.

• Tax effectiveness both within and outside superannuation is important to them.

• Nick and Lynn plan to spend 6 weeks in England at the end of the year when their first grandchild is born. They will need $20,000 for this trip.

• Nick has indicated that he is interested in getting some income protection.

• They have decided that at this point in time, they will not require any insurance for Lynn.

Client Focus

Navigating Client Focus

In this section, you will learn how to enter the client’s information into Client Focus.

Scenario

You have created Nick and Lynn as clients in XPLAN. You will learn to search and locate them and enter all their details.

Locating a client

Work with the facilitator to locate Nick and Lynn:

1. On the Title bar, type in “Nick (Surname)” in the search box  and press “Enter” on keyboard.

2. Nick’s details will be displayed on the search screen;

3. Click on the client to display Nick and Lynn’s Personal Details screen;

4. You are now in the Client Focus component of XPLAN.

Navigating Client Focus

• Navigating Client Focus is simple. All screens in this component can be accessed directly through the menu bar on the left.
  
  
  
  
• To edit details in the screen displayed, click on the  button located at the top right corner of the screen.

 Hints and Tips

• Clicking on “List” will give you a list of all your clients (grouped)

• “Recent” is a list of your recently accessed clients.

• “Advanced” allows you to nominate criteria to search your database e.g. by age.

Entering client personal details

Work with the facilitator to enter Nick and Lynn’s details into the different screens in Client
Focus:

1. To enter additional or to edit Nick and Lynn’s detail in the Key Details > Main , click 
   
   
   
   
2. Click Save. Now click on ‘Contact Details’ on the left hand menu
   
   
3. To add Lynn’s mobile phone no, click “Add”;
   
   
4. Enter details as follows:
   
   
   
   

5. Click Save

6. Move to the Employment Details screen.

7. To add or modify Nick and Lynn’s employment details, click “Edit”. Add Nick and Lynn’s employment details.

8. Enter the clients’ Risk Profile, by choosing Risk Profile’ and then ‘Investment’ and “Edit”
   
   
   
   You will need to click on  to bring through the Target Asset Allocation for the Risk Profile selected. Once this has been brought through, click ‘Save’ to save the risk profile.

 Hints and Tips

• Iress Risk Profiler – Is a risk-tolerance measuring tool. The IRESS Risk-Profiler questionnaire has been designed to assist financial advisers assessing risk tolerance in relation to financial risk.

Entering Clients’ Cashflow

1. To enter the client’s current cash flow, in the left Menu bar, locate and select Financial > Cashflow
   
   
   
   
2. In the Income section, click “Add” to add Nick’s salary and click “Save”:
   
   
   
   

3. Follow the steps above to enter Lynn’s salary.

4. To add the clients’ expenses, in the Expenditure section, click “Add” and enter the client’s current cost of living and click “Save”.
   
   
   
   

Insurance

1. To enter Nick’s Term and TPD cover held within his super, in the left Navigation Menu bar, locate and click on Insurance > Existing > By Policy
   
   
   
2. As Nick owns the Policy we will use the ‘By Policy’ option to add in the details. Click on “Add” to enter details of Nick’s insurance policy information.
   
   
   
   

3. This area is to add details regarding the ‘Insurance Policy details’. Use the case study details to add in the Policy details.

4. To add in the cover details we scroll down to the bottom of our policy details page and locate the cover details area, see below.
   
   
   
   

5. To add in the cover we click on the Expand symbol . You will then have to click on Add to enter in the clients Cover details.

6. Work with your facilitator to enter in Nicks Life and TPD Insurance. You should have both the Life and TPD cover as per below.
   
   
   
   

7. Click on SAVE on the top right hand side and you should now see the policy details in your Insurance > Existing > By Policy
   
   
   
   

Hints and Tip

The “By Cover” option is normally used if the owner of the policy and the life insured are two different people.

Assets

1. To enter the clients lifestyle and investment assets, in the left Menu bar, scroll and
   locate Financial > Balance Sheet
   
   
   
   
2. To add Nick and Lynn’s principal residence, in the Asset section, click “Add”. In the
   “Type” field, select “Real Estate” and enter the relevant details
   
   
   
   

3. Enter the value of the property ($650,000) in the “Current Value” field

4. Repeat the above process for the clients Household Contents ($40,000).

5. Enter Nick and Lynn’s mortgage in the Liabilities section.

6. Enter Nick and Lynn’s Superannuation details: Key Details > Superannuation.

Hints and Tips

• Where you see an option to ‘Link to Subfund’ this is referring to the clients Portfolio (IPS) holdings. You can link Lifestyle assets Liabilities and Superannuation to IPS. You might do this if you have a margin loan for a portfolio of assets or if you want to have the Superannuation balance in Client Focus update correctly. We will be covering Portfolios and Subfunds later in the workshop.
  
  
  
  
• Once linked, the values in the Assets and Liabilities page can be easily updated.

Activity: Adding Clients Trust to XPLAN

In Xplan, a client may have a Trust, SMSF or Company also in the database. For convenience Xplan has the functionality to group these entities to the main client.

Grouped entities are displayed together in areas such as IPS, to allow for quick access between each entities portfolio

Work with the facilitator to create the Trust:

1. Click on the Add button in the Title Bar and select Add Client.
   
   
   
   
2. When going through the new client wizard, ensure that you create this client with the Type being a TRUST.
   
   
   
   
3. Click . The ‘Basic Information’ screen displays.
   
4. Enter the Trust’s details.
   
5. In the Category list, scroll down and select Prospect.
   
6. Click . The Contact Details screen displays.
   
7. Enter Trust’s contact details or later link them from the primary entitiy/client, then click 
   
8. The Trust has been created as a separate entity to the clients in XPLAN.
   
9. Click  to display the Trust’s details

Once the Trust entity has been created it is to be grouped to the client’s file within XPLAN. 

To link the Trust to the client’s file you need to be within the main client’s account details.

1. While accessing the client (Nick), select Group > Client Group in the navigation menu. Client Groups management displays.
   
   
   
   
2. Click on . Now click on the  icon next to the client’s name to add relationships. A pop-up box will appear to select the relationship – select Trust
   
   
   
   
3. Now click on  dropdown to search for your trust. Type in the name you want to search then hit the Enter button.
   
   
   
   
4. Select the searched entity and click on OK. The Trust is selected so now click on OK to save it.
   
   
   
   
5. The client group will now show. Tick the box next to the Trust. Then click on Save. This gives you control over group membership.
   
   
   
   

Recommending Risk – Risk Researcher

Introduction

In this section, you will learn how to use Risk Researcher to carry out risk needs analysis and provide appropriate recommendations for your clients.

Overview

Risk Researcher is a risk comparison tool which provides the following capabilities:

• Risk Needs Analysis

• Qualitative product research

• Premium Comparison and Modelling

Launching Risk Researcher

• In the client screen, scroll down the left navigation menu bar and select the Insurance > Risk Researcher option.

• The Scenario Selection screen is displayed.

• Type in “Nick (Surname)” and click “Add Scenario”.

Needs Analysis

Tasks

The Needs Analysis screen is displayed. You will carry out a needs analysis for Nick and Lynn in the following areas:

• Term

• TPD

• Trauma

• Income Protection

Case Study – Assumptions

For this case study, we will use the following assumptions:

TPD/Trauma – Medical/Recovery Costs  $80,000

Needs Analysis

Select Modes and Assumptions

Liabilities to clear:

• Click on the “Liabilities to clear” field

• Click the “import” button, to import liabilities from Client Focus.

Future Expenditure required:

• Click on the above field

• Click on the “Import” button to import all future expenditure into Risk Researcher.

Future Education Expenses: As Nick and Lynn do not have any financial dependents, there is no data to input in this field.

Medical/Recovery Costs: Enter $80,000 for TPD and Trauma.

Other: Enter $20,000 in the Life Column for Funeral expenses.

Tips:

• Disposable Assets: In this field, enter assets that can be disposed of if and when the client dies or is permanently disabled or experiences a traumatic event.
  • Import Assets button – Click on this button to import all assets including Super
    
  • Partner Risk Profile – calculation of discounted rate can be based on the Partner’s risk profile
• Continuing Income: refers to income derived (non salary) that can be used to offset capital requirements in an insurance event.
  
• Projection Funding period: Selection of projection period and Same sex partner allowed

Needs Analysis – Income Protection

We will now conduct a needs analysis for Nick ‘s Income Protection Requirements:

• Click on the “$0” located in the Total Capital Required row and Income Protection column
  
  
  
  

• Click the “Import” button to import details of Nick’s salary from Client Focus

• Any additional income can also be added by selecting the “Add Income” field.

We have now completed an Insurance Needs Analysis for Nick.

Individual Activity:

• With the help of your facilitator complete Lynn’s Risk Need Analysis.

Understanding Recommended Covers

Risk Researcher provides charts and graphs to help users understand and communicate a client’s insurance need, as well as to provide an overview of the recommended cover.

Individual Activity:

1. Click on Display>Client > Death
   This screen projects how funding of the client’s income needs is met.

2. Click on Chart>Client>Proposed Cover
   This graph provides details of the recommended covers.

3. Click on Chart>Sensitivity> Client Dies - Cover
   This graphs shows a comparison of results based on different amounts of cover

Assumptions

The following assumptions pages can also be viewed in the navigation menu under “Assumptions:”

•  Key

• Life Expectancy table

• Other input screens

Recommendations

• Click on “Recommendations” in the left menu bar and the “Shortfalls” screen is displayed.
• The table shows that Nick already has $100,000 of Death and TPD cover.

Click on the  button in the Life column and the system will demonstrate a “shortfall” in Nick’s Life Cover or click on the first  to bring all covers through.

Individual Activity:

Follow the steps above to find the level of covers recommended for Nick’s TPD, Trauma and Income Protection.

Recommendations refer to Existing cover.

Surplus (shortfall) refers to Level recommended.

Recommendations – Level of Cover

We are recommending that Nick and Lynn roll their current superannuation into a different Superannuation fund. As such, we will recommend that Nick replaces his Life and TPD cover currently held within his MLC superannuation.

• In the Policy Recommendation section open the EXISTING tab. Use the  icon to open the existing policy to view the levels of cover. Use the dropdown box to select Replace for both the Life and TPD cover.
  
  

The system will now include this replacement recommendation and a RPAR.

We have carried out needs analysis for Nick’s Life, TPD, Trauma and Income Protection requirements.

Tips:

Risk Researcher > Needs Analysis Page:

• Pressing “Enter” on the keyboard will refresh the Needs Analysis page.

• Age in Needs Analysis is based on the Needs Analysis calculator whereby Age in Risk Researcher is based on information in Client Focus.

• The Risk Profile used is that from client focus.

Risk Researcher > Recommendations Page:

• To enter details of fees, premiums, notes, and Replacement Product Advice Records, select the Recommend or Existing tab:
  
  
  
  

  1. Click on  to enter or edit details of premiums or fees in their respective columns. This information will have pre-populated if already entered through Client Focus.

  2. Click on  in the notes column to enter notes to save into the scenario.

  3. Click on  under RPAR to record notes regarding the Replacement Product Advice Record. This information can feed into the Statement of Advice for convenience. Once a section has been completed a green  will appear.

Research and Selection of Products

Task

We have carried out a needs analysis for Nick’s Life, TPD, Trauma and Income Protection requirements.

We will now structure the most appropriate cover for Nick and to do some comparison of premiums based on the type of cover, structure, and features that we are recommending.

Structure and Feature of Policy

For this case study, we are recommending the following structures:

• Death and TPD within Super

• Trauma – Stand alone

• Income Protection – Stand alone

Selection of Features of Policy

• To select and construct a policy for Nick, click on the  button. Scroll and select Use Risk Researcher > Nick (Surname).
  The Premium Modelling > Client Cover Details screen is displayed. Select and enter details as follows:
  
  
  
  

  1. At the bottom of the screen work your way through the tabs defining the risk cover.

  2. Adjust shortfall by editing Sum Insured to refine quotes for all covers
     
     

  3. Life and TPD will be held in one policy within super.

  4. Edit option so Trauma and Income Protection covers are held outside super.
     
     

     Move to the General tab and enter the following General details

  5. Take age for illustrate premiums to 65. By doing this, the reports will be able to display when stepped premium becomes more expensive than level premiums.

  6. Weighting Profiles are created in Settings in the Left Navigation Menu Bar.
     
     

• Click on the Life tab and select “stepped” premium.

• Click on the Trauma tab and select “No” for buy backs.

• Click on the TPD tab and Select “Own or Any” and “No” for the buyback option.

• Click on the IP tab and enter the following information:
  
  

Premium Estimates

1. To get estimates of premiums for the above recommendations, click on Premium Modelling > Premium Estimates located in the left menu bar.

2. A list of all available products and indicative premiums for the different policies will be displayed.

Tips:

1. The product list in this example is filtered into 3 structures; Death& TPD, Trauma, and Income Protection. These are all tabs at the top of the page.

2. The polices that you view on the premium estimates page can be filtered based on settings within the  button on the top right corner of the page. Click on this button and a ‘Product Filter’ pop up box will generate. Make the following changes within each of the following tabs:
   
   

   • Slide the Score Filter chart for both Core Provisions and Supplementary Provisions to a score of ‘50.’
     
     
     
     
   • Select ‘Most Comprehensive’ within Product Selector.
     
     
     
     

   • Click . Now only the eligible products based on the selected filters will be displayed.

3. Click on the  icon to see notes and assumptions on the specific product and its premium.

4. Policies that do not fit the desired criteria are represented with . Click on the icon to understand why the product is not available.

5. Clicking on some of the column headings allow you to sort the products on the list. For example clicking on the  heading will sort the highest rated to lowest rated products based on the ‘Neutral Weightings’ setting previously allocated.

6. Click on Underwriting button to view underwriting requirements.

7. Click on $ button under Dial-Down column to change the commission structure.

8. Click on Report to print different reports including the Premium Estimates report. This report can also be directly saved a note in the client’s Document Library and saved to the scenario. Click OK.
   
   
   
   

9. Ticking a box in the Rec column selects the products you are recommending for the client.
10. You are able to validate a premium by using the Premium Validation icon . This will provide you with a quote from the Risk Researcher tool and from the vendor.
11. Products can be bundled (packaged) into one by selecting the “Package” option:
    
    
    
    

12. Click on  to see premium projections presented in graphs for all of the displayed products. There are a number of graphs that can be selected.

13. Stepped Vs Level Premium Graphs per product can be viewed from the  icons.

14. Clicking the Projections button will provide a long term premium projection view.

Case Study Recommendation

For the purpose of this case study make a recommendation for the client by ticking the Rec box for each of the relevant types of cover.

Recommendation – Selection of Products

• Click on Premium Modelling/Premium Estimates.
  
• Work through the 3 tabs and select the 3 products by ticking the Rec box:
  
  
  
  
• Click the button.

You will notice that the selected products now appear on the bottom half of the screen under Recommended tab.

• Edit fees and notes by clicking on the  icons under the relevant headings.

• Once an item has been changed a green  will appear.

• Tick the “Super” column if the Life and TPD policies are held within super.

Implementation

Once the clients have accepted the recommendations, the policies can be implemented i.e. Recorded as “Inforce” in the Insurance section of Client Focus.

• Click on the  button under the “Implemented” Column.

You will automatically be directed to the client’s “Insurance Group > Details” Page. The Plan Name, Underwriter, Policy Status, Sum Insured, and Premium amounts will have pre populated from the Risk Researcher scenario.

• Click “Save” and then return to your Risk Researcher scenario for further implementation.

Note: If you are using Commpay, selecting Implement will lodge an expected commission in Commpay.

Research

Risk Researcher is equipped to provide in depth research into most products available in the market

Knowledge Base

• Risk Research Central provides the latest updates on products, insurance industry legislations and trends.

• Risk Continuum provides a history of changes to insurance products.

• PDS Download is where PDS’s from the different providers in the system are available to be downloaded.

• Financial Strength Ratings provides descriptions of the ratings used to describe an insurer’s financial stability.

Qualitative Analysis

The Qualitative Analysis option in the left menu bar provides access to the various tools:

Compare Ratings

To access this module, click on the Compare Ratings option under Qualitative Analysis.

The Compare Ratings screen is displayed.

Enter the details for the client in the tabs.

A list of products meeting the above criteria is displayed.

Select the following products for comparison:

1. CommInsure – Personal Insurance Super – Life care

2. ING life – One Care (Super)

3. AMP Flexible Lifetime – Super

Click on the  button. A Rating report is displayed. This report can be sorted based on Core Score.

Select “Exclusion for Life Cover” and click. A description for that cover and ratings is displayed.

The Rating Grid can be printed in PDF format from by clicking on Report in the Ratings Grid window.

Feature Finder

Feature Finder allows you to generate a list of insurance products that meet multiple Feature Requirements. This allows you to eliminate products that do not match your client’s needs.

• To access this module click on Feature Finder in the left hand Navigation menu.

• In the top dropdown menus, select ‘your client’s primary Occupation,’ ‘the type of policy you wish to compare’ and the ‘client’s gender.’

• Select the Features you wish to include in your client’s insurance cover by ticking the checkboxes relevant to the Core Provisions and Supplementary Provisions.
  
  
  
  

• Select the “Eligible Products” tab. A list of products matching the selected Provisions will display.
  
  
  
  

• Select the “Expired Products” tab. After selecting any expired products the client may have, click the + add button.

• Click the  button. Details of the provisions that each of the ticked eligible products have will be displayed:

• Click Report button to generate a PDF output of the Features Grid.

Rating Benchmarks

To access this module, click on the “Rating Benchmarks” option. The Rating Benchmark screen is displayed.

The Rating Benchmark sorts all insurance products by rating within a selected evaluated provision.

Select benchmark and provision as follows:

The results will be sorted into their respective ratings

To print a PDF report, click on

Policy Extracts

To access this module, click on the Policy Extracts option.

This module allows users to select an underwriter’s products and view policy ratings, research notes, extracts, product specifications and underwriting limits.

Enter details as below:

Click on the 3 tabs to get more information regarding the policy and underwriting requirements.

One on One Comparison

The One on One Comparison module provides you with the ability to directly compare two products, provision by provision, to find the information you need and generate a range of reports. It allows you to compare policy extracts and research notes between different types of policies from different product providers.

To access this module, click on the One on One Comparison option in the navigation menu.

Select the ‘type of policy you wish to view.’

Select the ‘Provision you wish to view.

Locate and compare 2 policies. In this example we have selected an active policy and an expired policy:

Note that the policies are listed A-Z active and then A-Z expired within the drop down list.

A report showing the strength of the 2 policies as well as related policy extracts is displayed.

To print a One on One Comparison PDF report, click on the Print function – Application menu. The Print function will also enable you to select which provisions are to be included.

Compare Policies

This module allows users to compare policy extracts, research notes, and features between 4 different types of policies from different product providers.

To access this module, click on the boption.

Select a ‘cover type.’

Select an ‘evaluated provision.’

Select your ‘products to compare.’ Once each product is selected click add button  to populate the page:

• The information viewed can be changed by selecting the ‘Policy Extracts,’ ‘Research Notes,’ or ‘Features’ buttons located on the bottom of the page:
  
  
  
  
• The information displayed can be printed in a PDF format by clicking on the Report function.

Creating Current Cashflow in Xtools+

Introduction

Overview

Current Cashflow refers to the client’s current position. The process of SoA development begins with the planner having a strong understanding of the client’s current position and in particular, that client’s current cashflow.

This topic focuses on creating a client’s current cashflow in the XTools+.

Navigating XTools+

Overview

The XTools+ is the module where detailed cashflow and strategies are modelled in XPLAN. It enables users to create and compare multiple financial planning scenarios for a client. These scenarios can be projected for up to 50 years.

The XTools+ module is used to analyse a client’s current position as well as proposed scenarios. All information regarding a client’s income, taxation and projected assets value that populates the Statement of Advice is drawn from the XTools+ module

Entering current position in Xtools+

Scenario

Nick and Lynn’s personal and financial information has been entered into the Client Focus module of XPLAN.

The adviser is currently at the stage where he/she is ready to create the client’s current cashflow in XTools+.

Launching XTools+

1. Left Menu Bar,

   XTools > XTools+> CALM
   

2. Scenario Selection screen is displayed

3. Type Current Scenario 2012 and click Create Scenario.
   
   
   
   

4. The Input > Basic Details screen is displayed

Navigating Xtools+ Basic Details

Basic Details:

Confirming Nick and Lynn details:

1. Projection Start Date: Start of financial year (recommended)

   • NB: Any date other than the start of the financial year will pro-rata the first years results.

2. Users have the option to use “Future Key Dates” field to mark important dates such as a specific retirement date, strategy, or selling a property. This will split the year used in the Key Date into 2 periods. Leading up to the Key Date and following the Key Date.

3. Client basic details are imported into CALM. An Import Wizard is available to select other Client Focus information to import.
   
   
   
   

4. There are 2 ways of navigating the Input screens, users can either use the  or the Navigation Menu on the left hand side.
   
   

Income and Expenditure

1. Select Individual > Cashflow > Income and Expend from the navigation menu.

2. Nick and Lynn’s income and expenses have been transferred from Client Focus

Please note that you do not need to enter any income that is dependent on an asset (eg. Dividends and Interest) in the Income and Expenditure page. This is entered when inputting the detail of the asset.

Similarly, you do not need to enter any repayment details of loans, nor do you need to enter superannuation contributions as a ‘pre tax expense’. These are picked up in other areas of Xplan, as they relate to an asset or liability that you are modelling using CALM. Therefore, you need to ensure that any cost of living expenditure is entered net of these items (eg: if a client discloses that their cost of living is $50,000 per annum, however this includes $20,000 of loan repayments, then you would enter $30,000 as their cost of living as the $20,000 in loan repayments is entered in the liabilities section).

Assets

1. Click on Assets > Holdings in the Left Menu bar
   

2. Follow the steps below to add Nick and Lynette’s assets:

   • Adding the Westpac Bank Account ($45,000)

     1. Click Add Investment, scroll down and select Class: Domestic Cash.

     2. Enter the following details:

        • Owner: Joint

        • Description: Westpac Bank Acc

        • Value: $45,000; Cost Base: $NA

        • CGT: N/A

        • Centrelink Exempt: No

   • Adding the Woolworth shares with dividend being reinvested

     1. Click Add Investment, scroll and select Class: Domestic Equity.

     2. Enter the following details:

        • Owner: Joint

        • Description: Woolworths

        • Value: $15,000

        • Cost Base: $10,000

        • CGT: Yes

        • Centrelink Exempt: No

3. To reinvest income from the Woolworths shares and the Bank Account, click on Asset > Income in the Left Menu Bar

4. Select Add Reinvestment Period, scroll down and select Woolworths

5. Confirm the following details:

   1. Asset: Woolworths

   2. Type: Reinvest

   3. From: Start

   4. To: RetmtC

6. Repeat for the Westpac Bank Account.

Principal Residence

1. To enter details of Nick and Lynn’s Principal Residence, click on Property > Holdings in the left Navigation Bar
2. Select Add Property, scroll and select Principal Residence. Enter details of this property.
   
   
   
   
3. Go to Property > Rate and Fees and enter a Growth rate of 3%.

Home Contents

1. Entering details of Home Contents, click on Non Financial > Holdings

2. Select Add Non Financial Assets, scroll and select Home Contents. Enter details of this asset (Joint, $40000).

Superannuation

1. Entering details of the clients Superannuation, click on Super > Key Info. Confirm the following details (Check ESD is commencement of employment and also change the Investment Profile to Balanced):
   
   
   
   
2. To confirm the clients superannuation details, click on Super>Accumulation (Nick’s balance is $350,000 with $50,000 Non-taxable. Lynn’s balance is $118,000)

Liabilities

1. To enter details of liabilities, click on Liabilities > Loan Details

2. Click Import button to import the information from Client Focus

3. Confirm that all information has been transferred accurately (Check the Term, it should be 180 months)

4. To enter interest rate for the loan, click on Liabilities > Rates and Fees. Enter 8.2% in the Interest Rate field. Interest is not tax deductible and there is no regular fee

5. To enter the annual repayment amount, click on Liabilities > Repayments

6. Navigate to Display > Individual > CALM.

Individual Activity: Understanding Current Cashflow

1. The CALM display screen is displayed showing an overview of the client’s current position

2. Go to Display > Cashflow > Consolidated screen and answer the following questions:

   • How much investment income did the clients receive in Year 1?

   • How much tax did Nick pay in Year 1?

   • Did they have any surplus cash in Year 1?

Hints & Tips

• To manually allocate surplus cashflow,

  1. click on Net Cashflow

  2. In the “surplus option” field, scroll and select “Custom”

  3. Enter the preferred option to allocate surplus cash or to draw from in the event of deficit in cashflow.

• Information transferred or entered in XTools+ is saved automatically

• Economic (left menu bar): This is where assumptions as well as tiered adviser fees are entered (if applicable)

  Options (left menu bar): allows user to modify the display in CALM

Creating Proposed scenario in XTools+

Introduction

Overview

The XTools+ module enables a planner to formulate and compare various strategies to help the clients achieve their lifestyle objectives. In doing so, planners are able to provide the most appropriate advice to their clients.

Scenario Discussion

For the purpose of this case study, we recommend that :

1. To roll/consolidate Nick and Lynn’s superannuation to a growth portfolio

2. Nick to make salary sacrifice contributions up to his concessional contribution limit from now to retirement

3. Lynn makes a non-concessional contribution of $1,000 into her recommended superannuation fund until 2025.

4. To commence a TTR income stream for Nick when he reaches 55 drawing sufficient to meet their income needs

5. When Nick is 65, commute the TTR back into Super and then commence an allocated pension for him drawing sufficient to fund their retirement needs

6. At the same time, commence an Allocated Pension for Lynn

Creating a Recommended scenario

1. Click on the Client:Scenario name dropdown, and select the Save as option.
   
   
   
   
2. The Save Scenario As box is displayed. Enter details as follow:
   
   
   
   
3. Click . Confirm that the new scenario has been created by checking the Scenario Name field
   
   

Super Rollover

Scenario Discussion

For the purpose of this case study, we recommend that Nick and Lynn rollover their existing superannuation funds to a superannuation fund with a Growth profile.

Rolling over / consolidating super

1. In the Left Menu Bar, click on Input > Individual > Super > Key Info
2. In the Investment Profile field, scroll down and select the Growth option for both Nick and Lynn.
3. Check to confirm that the Total Return rate has changed accordingly.
   
   
   
   

Making Contributions to Superannuation

Salary Sacrifice

Nick to salary sacrifice up to his Concessional Contribution limit of his salary into super.

1. In the Left Menu Bar, click on Input > Individual>Super > Accumulation

2. In the Super > Accumulation page, set the Auto Available Salary Sacrifice Conts to Pre Tax Limit to Yes
   
   
   
   

3. This will salary sacrifice Nicks contributions up to his allowable pre-tax limit. Change the From and To options from Start until 65.

Making Non Concessional Contribution

1. Enter the following details for Lynn:
   
   • Employee contributions (pa) field - $1,000.
     
     

Transition to Retirement Pension

Commencing a TTR income Stream

To commence a TTR income stream for Nick when he turns 55:

1. In the Left Menu Bar, click on Input > Individual > Pensions > Balance and RO
2. Click on Add Pension, scroll and select Rollover: Allocated Pension
   
   
   
   
3. Enter details of the recommended TTR income stream as follows:
   
   
   
   

4. To add details of income drawn from the pension, click on Input > Individual > Pensions > Income. The Income screen is displayed.

5. Select the Expend payment option. For this case study, we are not charging any fees.

Commencing an AP – Retirement

To commute the TTR income stream and then commence an Allocated Pension for Nick when he retires at 65:

1. In the Left Menu Bar, click on Input > Individual > Pensions > Balance and RO to create a new pension called Account Based Pension.
   
   
   
   
2. To commute the pension click on Input > Individual > Pensions > Properties. Click on the drop down list for the TTR and select Retirement C.
   
   
   
   

3. Complete the details in the Income and Rates and Fees sub-sections under Pensions.

4. Now navigate to Display > Individual > Cashflow > Consolidated.

To confirm that the above steps have been implemented, click on Display > Individual > Pensions > Clients

• You will notice that when Nick is 65 (1 Jul 2025), the TTR pension has been commuted and then consolidated with existing superannuation before the Account Based Pension recommenced in 2025.

Individual Activity

 Work on your own to commence an Allocated Pension for Lynn when Nick is 65.

Analysing our recommendation

Individual Activity: Understanding the implication

Work with your facilitator to locate answers to the following questions:

1. Are Nick and Lynn able to fund their preferred retirement lifestyle?

2. Are Nick and Lynn eligible for Age Pension when they reach Age Pension age?

3. When they are 70, Nick and Lynn would like to tour Africa and would require $30,000 for that trip. Will they be able to fund this from their cashflow?

Comparing Strategies

Introduction

Overview

Once a number of scenarios have been created, you can compare the scenarios to locate the most appropriate recommendation for the client.

Comparing Outcomes

To compare Nick and Lynn’s current position with the recommended scenario:

1.  In the Left Menu Bar, click on Scenario Index
2. The Scenario Selection screen is displayed
3. Click on  located at the top right
4. Tick both scenarios and click on Compare
   
   
   
   

Hints & Tips

• To copy the graphs, click on Print, and select a file type to save it as (PNG is the most common option)
• Users are also able to export a data file from CALM to a local directory and re import the file at a later date

Entering existing investments - IPS

Introduction

In this section, you will learn how to enter the clients’ existing investment assets in IPS

Overview

IPS is a portfolio management tool that can be used to:

• Manage client’s portfolio

• Create portfolio reports

• Portfolio Modelling (Recommendations)

In this section, we will learn how to enter details of the clients existing investment assets into IPS.

Launching IPS

In the client screen, scroll through the left navigation menu and select the Portfolios (IPS) option.

Setting up Sub Funds

Prior to adding investments into IPS, you will have to setup appropriate sub fund for the investments for each entity/ownership. A subfund is a platform that holds the underlying assets within that platform.

To set up a subfund:

1. In the IPS screen, select the entity, then click on Admin > Cash & Subfunds

2. Click “Add Subfund”. For this case study, we will create 2 subfunds:

   • Investments (Joint)

   • Super (Nick)

Adding an existing investment

Entering Nick and Lynn’s Westpac bank account:

1. In the left menu bar, scroll and select Portfolio > Position

2. Ensure that

   Nick & Lynn (joint) is selected from the top dropdown
   
   
   
   
3. Click Purchase. In the Sub Portfolio field, scroll and select Investments
   
   
   
4. In the Investment Code field, click on the Search button. The Search screen is displayed. To search for a bank account, In the “Security Name” field, type in Bank and click Search
   
   
   
   
5. Select the Bank Account option and enter relevant details.
   
   
   ** Ensure that the “Unit Price” is $1.00 and click on the “Calculate Unit” button.
   
   
6. Click Save, the Edit Holding Details screen is displayed. Enter relevant details in this screen and click Save.

Entering Nick’s MLC superannuation:

1. As this is Nick is the owner of this account, ensure that Nick is selected (refer top)

2. Click Purchase. In the Sub Portfolio field, scroll and select Super

3. In the Investment Code field, click on the Search button. The Search screen is displayed. To search for Nick’s MLC super investment, in the “Security Name” field, type in “Horizon” and select “Funds”. Click “Search”

4. A list of funds will be displayed. Scroll and select “MLC Mkey- Super Horizon 4

   
   
   
   
5. Enter details of Nick’s MLC Super account
   
   
   
   
6. Click Save. The Edit Holding Details screen is displayed. Enter relevant details in this screen and click Save.

Individual Activity:

1. Work with your facilitator to enter Nick and Lynn’s other investments into IPS
   

2. Remember to create a Subfund to enter Lynn’s Super details into.

Navigation

• Transactions – shows transactions that has taken place

• Asset Allocation – provides asset allocation of holdings

• CGT – where modelling on CGT could be done

• Benchmark – use to compare current holdings with another product

• Settings – to set how you want IPS displayed

Hints and Tips

• Ensure that you create a separate subfund for different tax structures

• Exchange codes: ASX / FND / UNL

• When using the generic “Bank Account”, the investment may not appear in the Position section if there are no units.

• To set up unit pricing for generic products – Home/Portfolio Functions/ View/edit products

• You can use wild cards to search - * %

• Make sure that the No aggregate option is selected as Aggregate Subfunds/GICS amalgamates 2 holdings with the same code or GICS into one while No aggregate show all the holdings separately

• HostPlus in this case study has been setup by the training team. Generic / non listed products are setup by the Administrator. Once a product is setup it cannot be deleted.

• Ensure that transaction status is set as either Actual or Unconfirmed transactions in the investment purchase screen.
  
  
  
  

• Note that calculated is strictly reserved for datafeed transactions or corporate actions.

Datafeeds

• Portfolio Datafeeds represent an efficient way to import portfolio transactions that are administered by a third-party such as a Wrap Platform or Master Trust provider.

• Datafeeds are specifically integrated with IPS (Portfolio Module). XPLAN IPS doesn't accept any generic transactional data file - only those datafeeds that have been implemented between the datafeed vendor and XPLAN are supported.

• There are two types of data files, Manual imports & Automated imports. Please refer to the Help menu for setup information relating to specific data files.

  
  
  
  Please refer to the help menu for full detail on the processing function as well as for the recommended processing options for each provider.
  
  

Portfolio Modelling (IPS)

Introduction

In this section, you will learn to use the IPS component to model changes to a client’s investment portfolio.

Overview

Once a number of cash flow scenarios have been created and you have compared the scenarios and located the most appropriate recommendation for the client. You can use the Portfolio Modelling Function in the IPS to model the proposed strategy.

Modelling can be used to apply a preselected holdings arrangement or to remodel a portfolio back to its original asset ratios. Portfolios can be modelled by manually building a portfolio proposal or by applying a model target set.

Creating the Proposed Portfolio in IPS

Scenario

For the purpose of this case study, we recommend that Nick and Lynn rollover their existing superannuation funds to a CFS FC- Growth portfolio.

Launching Portfolio Model

1. Left Navigation Menu select Portfolio (IPS) > Model, then select the entity from the top dropdown
   
    
   
   
2. Select Recommend to model the portfolio manually. You can apply a previously created Model Portfolio by selecting Set Target. We will be using Recommend for this Case Study.

Recommending Portfolio – manual

Access the Recommend screed from the Left Navigation Menu – Portfolio > Model > Recommend

1. Choose the Super Subfund to work with on the top of the screen.
2. To add the Colonial First State Super Growth Fund to the proposed portfolio click  at the top right hand side of the screen.
3. The Add Holding screen is where you search for the fund selected for the client to invest in. In the “Security name” field, type “*CFS*Super*Growth*” and click on Search. A list of funds will be displayed. Scroll and select “CFS FIRSTCHOICE PERSONAL SUPER – FIRSTCHOICE GROWTH OPTION".
   
   
   
   
4. Once the fund has been selected you will be taken back to the “Holdings - Portfolio Proposal Model” screen. Here now, you have the option modify the holdings by the percentage amount, dollar amount or by number of units. This can be done by clicking on the arrow in the adjustment text fields to switch between using percentage, money or unit values.
   
   
   Note: We will make a percentage adjustment to the portfolio.
   
   
5. Under Adjust column – Decrease MLC by 100% (-100%) and Increase CFS by the $ amount (see screenshot on following page).
   
   
   Note: Net Adjustment shows the total Adjustment Discrepancy as a result of the proposed transactions. This value should be zero.

Individual Activity:

1. Work with your facilitator to model Lynn’s Current portfolio.

Asset Allocation

Left Menu Bar – Portfolio > Model > Asset Allocation

The asset allocations of the proposed changes to the portfolio can be viewed, and compared to a client's target asset allocation by:

1. Use Chart Type to display the proposed portfolio assets as a Bar Graph or Pie Chart, or in Comparison to the client's target asset allocation.

2. Use Subfund to view the proposed assets for each subfund, or View All displays all of the assets for the proposed portfolio.

   
   
   
   

Implementation

Left Menu Bar – Portfolio > Model > Recommend

Once an acceptable proposal for changing the client’s portfolio has been finalised in Holdings, the next step is to apply these changes to their portfolio.

Implementing can push your recommendation through to other areas of Xplan such as IRESS Ordering System (IOS), CommPay and eApplications. When the client's portfolio is linked to IOS, implementing the changes will pass these orders through IOS to be executed.

1. Click on the dropdown at the beginning of each security line.
   
   
   
   
2. Select Implement to Transaction. This will give each of the transactions a green tick.
   
   
   
   
3. Click on the dropdown arrow in the title bar.
   
   
   
   
4. Select Implement
   
   
   
5. Click on Portfolio > Position. You will see that Nick’s MLC Super Fund has now been replaced by CFS FirstChoice Growth Fund.

Hints & Tips

• Portfolio > Model > Set Target is where you can use model portfolios to make

  proposals or recommendations.

• Minimum Adjustment can be used to set a minimum value for any purchases and sales. Any figures below this value from the target model set will not be applied. In Model > Target Effects enter the minimum amount to be adjusted 

• If you have a Datafeed for any of the recommended products, you will not need to implement this against the clients portfolio, as this will double up the transaction(s).

Super Solver

Introduction

In this section, you will learn to use the Super Solver component to compare Superannuation products.

Overview

Advising clients on the rollover or consolidation of their superannuation is a key component of the advice process. In today’s environment, a research tool such as the XPLAN's SuperSolver module is crucial to providing a reasonable basis for your rollover advice.

With research data on over 420 superannuation funds, including industry funds, SuperSolver takes the complexity out of comparing and analysing your superannuation rollover advice.

Accessing Super Solver

There are two ways of accessing Super Solver, one through the client’s Client Focus and the other from the XPLAN menu in the Title Bar. The differences between the two are important as your options that are available are different depending on the way you access the tool.

Accessing Super Solver from the XPLAN menu

From the XPLAN Dropdown Menu, you will notice a section dedicated to Super Solver.

Clicking on SuperSolver Quick Compare allows you to access Super Solver menu where you can research and compare Superannuation and Pension products.

The other options within the SuperSolver Functions menu (top) can be accessed from the Left Hand Navigation Bar on this screen (see below).

Hints & Tips

There is a calculator under Tools that will allow you to model a Transition to Retirement pension.

Accessing Super Solver through Client Focus

To access Super Solver for a Client, make sure you are in a client file and select Superannuation from the Left Hand Navigation Menu. This will give you two options to access SuperSolver: SuperSolver and Rollover Analysis Wizard.

Hints & Tips

SuperSolver is a scenario based super comparison tool.

There is also a Rollover Analysis Wizard. Wizards are a way of organising data entry to create a step by step process. Wizards are customisable and can be made to support many business processes. We will be running through the Wizard for today’s training.

Note: When you use the Rollover Analysis Wizard a scenario will be automatically created under SuperSolver

Differences between the two ways of accessing Super Solver

Super Solver Wizard

A wizard is a series of data collection screens with questions that creates a path for you to step through the data entry process. It is simply a different type of data entry and uses the same fields as Client Focus.

NOTE: The purpose of this Wizard is to merge information into a document with the details of your Superannuation Strategy for the client. Therefore, when using this Super Wizard, you should have already performed research on the Superannuation product we wish to recommend.

Using the Wizard

Select Superannuation > Rollover Analysis Wizard from the navigation menu. The left hand Navigation Bar shows us that this Wizard contains six screens.

We will use the buttons in the top right hand corner to navigate through this Wizard.

1. The first page of our Wizard is the Introduction page. This page has fields that are pre-populated with information from your client’s Client Focus area of XPLAN.

   You will need to specify the Advice Type as this will change the way the Wizard is used. We will be using Switch Super Funds option.

   The Who is this advice for? field is very important as it will determine what fields and codes are used when the document is eventually merged at the end of the Wizard.

   In the bottom half of the Introduction page, the details of your client and partner have been populated. All these fields are changeable at this stage.

   After ensuring that the details are suitable, click Next.

2. This will take you to the Fact Find page. For the purpose of today’s workshop we do not need to include information in this page.

   Then click Next.

3. You are now on the Existing Plans page.

   Use the Import button to import the superannuation plans that we entered into the Client Focus module under Key Details > Superannuation section earlier.

   

   Select the Dropdown Arrow next to the plan name then select Investment Options.
   
   

   When the Investment Options page opens, select the button to Import from IPS. This will insert the investment option and balance that we selected in the IPS module earlier.

   

   Review the information on this page, and then click Close.
   Now click Next.
   
   Hints & Tips
   If you had elected to Link to Subfund under Key Details > Superannuation this will automatically import the investment options held under the super fund.

4. The Proposed Plans page is now displayed.
   
   The top of the page will tell you how much of the existing funds are currently unallocated in the Proposal. At the moment this will be $350,000.
   
   Select the fund that you are recommending and click  the to insert the selected fund.
   
   
   
   This will open the investment option page.
   
   Make sure you select the investment option to be used and click . Allocate $350,000 to the selected invesmtent option. Then click Close.
   
   
   

   Once you are happy with your proposal, click Next.
   
   Click on Charts to see the projections of the recommended super policy.
   
   

   
   
   Use the Dropdown boxes to make your selections for the graph image.
   
   
   

   A description of the 3 graphs has been provided below:

   Graph	Description
   Wealth	Shows the increase in super balance until retirement age
   Accumulated Fees Projection	Shows the accumulated cost of fees until retirement age
   Fees Comparison	Puts the Current and Proposed fees next to each other to show the difference until retirement

   
   Close the Charts window.
   
   Then click Next.
   
   

5. The Replace Advice page is now displayed. You can click the  to update the Costs and Differences in the funds for your Statement of Advice.
   
   

   

   
   When you have completed the section you will get a green icon .

   Click Next.

6. The Report/Implement page is next to be displayed in the Wizard.
   Click on Report and select your preferred output type (PDF or Word). This will generate a Statement of Advice document based on your recommendation.
   
   
   
   Click Next. This will take you to the last page of the wizard. Select  to take you back into the client file.

Using SuperSolver

Select Superannuation > SupeSolver from the navigation menu inside the client file.

You will see the scenario that you have just created:

You can use the other pages in the navigation menu to research the current and proposed super plans.

Select the name of your Scenario- Rollover Analysis Wizard Scenario.

Select Quick Compare > Features. This will show you the details of the Current and Recommended super plans.

 Hints & Tips

Remember that the Wizard should be used once you have completed all the research for your client. Therefore, at this stage in the SoA generation process, the Quick Compare pages should be only used as a reference, not as a research tool.

SOA Wizard

Introduction

Overview

Once the planner has decided on the most appropriate recommendations, the next step is to create a Statement of Advice for that client based on information provided by the clients as well as recommendations from the planner.

One way of doing this is by using the Wizards functionality in Client Focus.

A wizard is a user interface element where the user is presented with a sequence of pages to enter information. You can also use Merge Reports functionality to reach the same result without using the wizard. However, to ensure that all information is present in the Statement of Advice, it is better to perform this task using the wizard, especially if you are writing the Statement of Advice for the client for the first time.

Wizards

Launching the SOA Wizard

1. In the Left Navigation Menu Bar in Client Focus, click on Wizards > Statement of Advice.

2. To navigate within the wizard we will use the  functions on the top right hand side of the screen or us the navigation menu bar on the left hand side.

   Note: All wizards are different and have been customised to meet your needs. The best practice is to navigate using the Previous and Next buttons and enter all information into the wizard pages.

3. Once you have navigated through all the pages within the SOA wizard, on the last page of the wizard, the navigation buttons on the top right hand side of the page will display. Click .

4. You will be directed to the next page where you can select the following options.

   
   
   
   

   • The details entered into the SOA wizard has been saved.

   • View/Edit Entity Details – Will take you back to Client Focus.

   • Restart Wizard – Will take you back to the beginning of the SOA Wizard.

   • Merge SOA – To merge the SOA into a word document.

5. Click on .

6. You may be directed to the ‘Variable Substitution’ screen. This screen is where you select the Xtools+ or Risk Researcher scenarios which you wish to include in your report. Select the  next to Xtools+ or Risk Researcher to select the scenario:

   
    
   
   If you do not have the Needs_Analysis scenarios available in the dropdown you will need to click on the name . This will allow you to type the name of the scenario on the Value box, then click Save.
   

   

7. Once you have select the scenario, click Execute. The SoA document is generated as a background process.

8. When the SoA document has been created, the message icon displays on the title bar.

   
   
   
   
9. Click  to download the generated SoA report.

Hints & Tips

• All wizards are different and have been customised to meet your needs.

• Clicking on Save and Exit will save the wizard and take you back to Client Focus.

Merging an SoA Document

Introduction

Overview

You can create a SOA also by using the Merge Report option in Client Focus. The Merge Report functionally takes you directly into the templates files, where you can select the document to be run.

Merging a SoA Document

Individual Activity

We will now merge our recommendations into a SoA document:

While accessing a client:

1. On the navigation menu select Merge Report. A list of report templates displays.
   

2. Select the Report Category > Statement of Advice. Click  for the Statement of Advice Docs. The Select Template Files screen displays.

3. On the Navigation menu on the Left hand side of the screen select Report Setup > Variables to include the Xtools+ Scenario and Needs_Analysis Scenario you want to include in your report.

4. Once in the Report Setup > Variable screen select the  next to scenario. This will let you select the Xtools+ scenario to include in your report.
   
   
   
   

5. Once you have select the scenario, click Execute.
   If a Confirmation dialog box displays due to missing data, click Yes.

   The SoA document is generated as a background process.
   

6. When the SoA document has been created, the message icon displays on the title bar.
   
   
   
   

7. Click  to download the generated SoA report.

Hints & Tips

• Please note that in your office you may have a SoA Wizard in place. This should be the preferred function to use to merge your SoA document.

Xtools

Overview

The Xtools is a range of calculators designed for use by advisers as marketing or client facing tools. The calculators provide powerful and graphical illustrations which are invaluable in explaining financial planning concepts to clients.

Accessing Xtools

1. Select a client from Client Focus, in the Left Menu Bar, select Xtools. This ensures that the results of Xtools are saved with the client’s details

2. The Xtools index is displayed. Select the particular tool required. To move to another tool, return to Xtool index

Navigating Xtools

1. Main sections with Xtools are shown in Capitals;

2. Input function – screens for data input;

3. Display function – displays numeric results of the tools;

4. Chart function – display results of tools in graphic form;

5. Target – displays targets provided for the tools;

6. Assumption – displays key and legislative assumptions used for projections.

Calculators

A brief description of each calculator is given below:

1. Debt > Debt Consolidation
   Debt Consolidation allows an adviser to model the consolidation of up to 10 existing tranches of debt to a single Principal and Interest Loan. Existing loans may be credit cards, store cards, or personal loans for any purpose. The tool allows for loans payable at any interest rate assuming monthly repayments.

   The tool presents results and allows advisers to easily quantify savings possible in interest, fees and time by consolidating debt at lower interest rates.
   

2. Debt > Loan Illustrator
   This tool allows advisers to amortise any outstanding loan balance. The tool directly compares actual loan repayments made against the lender's standard loan schedule to highlight savings in interest and time.

   An existing loan can be modelled and the effect of the following demonstrated:

   • additional regular repayments

   • commencement and regular fees

   • forward interest rates to quantify the effect of rising or falling interest rates

   • lump sum repayments or additional draw downs
     
     In addition, Loan Illustrator can automatically amortise the outstanding loan to a specified early repayment date. The tool will automatically determine the additional repayments required to extinguish the loan by the specified date.

3. Insurance > Needs Analysis

   Insurance Needs Analysis is a protection based analytical tool for assessing insurance needs. It takes into account projection term and survivor liquidity in each future term when calculating Required Insurance.
   

4. Investment > Direct Property
   
   Direct Property allows an adviser to isolate the effects of direct property investment in relation to capital, tax savings and cashflow. Up to four properties may be catered for, with the associated gearing also considered. The loan details are customisable for added flexibility in relation to term, repayments type and deductibility.

   Ownership may be apportioned between client and partner for each property, and each property may be current, purchased now or in a future year. Principal residences may also be accounted for by identifying them as non-taxable property.

5. Investment > Education Funding
   
   This tool can be used to determine adequate savings to fund education expenses. It allows for primary, secondary and tertiary education expenses for up to 5 children explicitly.

   Education expenses are funded directly via an investment fund. Education Funding caters for one-off education expenses and funding from sources other than an investment fund, such as salary.

   Appropriate levels of funding can be quickly determined by optimising the initial investment amount or the amount of regular savings.

6. Investment > Instalment Gearing

   This tool can be used to illustrate the benefits of a long term instalment gearing strategy, including the ability to maintain the gearing at a constant level. Utilising various risk profiles or specific asset classes, the tool allows analysis of the effects on capital, cashflow and taxation. Ownership is fully customisable with the ability to hold investments individually, jointly or split disproportionately between members of a couple. Various fees and interest rates may be also accounted for.
   

7. Investment > Profiles
   
   This tool is intended to help quantify the characteristics of the investment profiles and related assumptions adopted by the licensee group. It provides a study of the assumed risk and return properties of the standard investment profiles.

   In doing so, the tool models a regular savings plan assumed to be invested in a portfolio with asset allocation equal to that of the investment profile. The illustration can be made relevant to an individual by allowing for actual balances and ongoing savings as part of a regular savings plan
   

8. Lifestyle > Lifestyle Goals
   
   XPLAN’s Lifestyle Goals is designed specifically for the financial planner who wants to use an illustration tool to aid goal setting, strategy and review discussions with their clients. Lifestyle Goals offers bold display screens which feature one-click changes to strategy and input without needing to navigate away from the main results screens.
   

9. Retirement > Allocated Pension
   
   This tool can be used to illustrate both a new and an existing allocated pension. Utilising various risk profiles or asset classes, the tool allows analysis of the effects on capital and tax position over the long term.

   With the ability to allow for reversionary beneficiaries, Pre ’94 and disability pensions, this tool aims to covers all aspects of this popular type of income stream.
   

10. Retirement > Life Expectancy
    
    Retirement Funding projects retirement wealth for the expected lifetime of a client or client couple. Life Expectancy has been designed to simply investigate life expectancy in more detail.

    Based on the client’s age and sex, this tool will determine the client's expected future lifetime. The probability of survival (based on life tables) to future ages can also be shown. The purpose of the tool is to put financial objectives in the perspective of life expectancies, particularly relevant when discussing needs and objectives. The tools use the most recent Australian Life Tables.
    

11. Retirement > Retirement Funding
    
    For a client or client couple, this tool enables the adviser to analyse and present the suitability of existing retirement funding. The projection of retirement wealth can be summarised graphically, and quantified by simulating the likelihood of achieving financial objectives.

    As well as catering for retirement goals such as expenditure and estate capital, this tool incorporates education costs. Often, funding child education and retirement are seen as opposing goals. Retirement Funding allows advisers to easily demonstrate how education and retirement goals can both be met.

    Retirement Funding quantifies the effect on specified financial objectives of:

    • increasing retirement savings

    • different investment profiles on expected returns and volatility

    • saving sooner rather than later

    • lump sum savings/withdrawals

    • paying an allocated pension

    • optimising entitlements

    • adopting a contribution to spouse strategy

    • eligibility to receive income support, including age, blind, disability and service

    • pension and partner allowance

      Retirement Funding accumulates assets for the purpose of providing retirement income. The focus of results is not necessarily on dollar values, but whether financial objectives can be met over the projection period. The projection period may be limited to the longest life expectancy or a selected timeframe (expressed relative to life expectancy).

      Depending on the level of accuracy required and the data available, Retirement Funding provides either a simple or detailed analysis. Detailed analysis allows the advisor to state how the funds will be used in retirement, together with a full analysis of the taxation consequences. Simple analysis assumes that all retirement benefits are taken in cash, and no taxation consequences of the withdrawal are considered.

12. Retirement > TTRAP

    The Transition to Retirement XTOOLS gives you the ability to model and assess the benefits available to clients from accessing superannuation as an income source but continue working in some capacity and topping up their retirement savings.

    With the ability to give an in-depth view of tax, income stream(s), long-term retirement savings and the ability to meet expenditure objects, the TTRAP tool gives concise yet accurate details of all aspects of this popular retirement and superannuation strategy.

13. Taxation > Income Tax Calculator
    
    This is intended to serve as a quick tax estimation tool for the current tax year. It quickly allows an adviser to establish income after tax in determining surplus income available for investment. The tool is sensitive to resident tax status and income types such as franked and unfranked investment income. HECS debt repayment and Medicare Levy Surcharge liability are also automatically calculated.

    For a married couple this tool will present individual assessment as well as couple assessment.

14. Taxation > Tax on Super Lump Sum
    
    This tool quickly allows an adviser to establish the tax payable on a superannuation lump sum, consistent with its respective components. The implications of Medicare, HECS and other income are considered.

    For a married couple this tool will present individual assessment as well as couple assessment.
    

Client Management Capabilities of XPLAN

Dashboard

Dashboards can be created for:

• Users - User Dashboards allow a user to display information on clients and other users that they can view.

• Clients - Client Dashboards display targeted information for a specific client. They display in Client Focus, allowing you to view a snapshot of client data while accessing the client.

• Referrers - Referrer Dashboards allow referrers to view information about themselves, such as clients they have recently accessed and tasks that are assigned to them.

Activity: Setting up the Dashboard for a client

1. While accessing a client, in the client Navigation menu select Dashboard:

2. Click the  dropdown box next to the Main tab and select Add Widget.

   

3. In the Add New Widget dropdown you can make your selections.

4. Select the Parameters within the Fields you would like to view.

Hints and Tips

• Widgets can be moved to other positions on the screen by clicking and dragging the widget to the desired location.

• A default Dashboard can be created for all users and clients to have the same Dashboard Setting. This is created from the home page by selecting Administration Functions > System Settings. You will need the “System Setting” capability to have access to this function.