Wealth Axis Wizards - MDA

Wealth Axis Wizards - MDA

MDA Overview

The Managed Discretionary Advice (MDA) Services provided for your clients’ Portfolio Accounts can be recorded and tracked in the MDA Register (at Advice Process > MDA > MDA Register) in line with BT Group Licensee’s MDA policy.

The MDA Account Details Report will assist you with monitoring your clients’ MDA Portfolio Accounts with the following information displayed:

  • Client information (name and entity ID)
  • MDA Portfolio Account information (asset name and account value)
  • Client’s Risk Profile (Cash, Defensive, Moderate, Balanced, Growth or High Growth)
  • The current asset allocation of the MDA Portfolio Account and the variances of each sector to the target asset allocation (based on the client’s Risk Profile)
  • Next review dates (MDA Portfolio Account and MDA Contract)

 

MDA Reports

MDA Account Details Report

How is asset allocation information displayed for each MDA Portfolio Account?

For each MDA Portfolio Account, the following asset allocation information for each sector is displayed in the Report:

  • Target asset allocation for the client’s Risk Profile (as captured at Advice Process > Risk Profile)
  • Asset allocation bands (or ‘bandwidth’) as captured at MDA Portfolio Account level or at Practice level (see below for further information)
  • Actual (current) asset allocation of the client’s MDA Portfolio Account (as captured in Portfolios (IPS) at Portfolios > Portfolio > Position)
  • Variance of the current asset allocation to the target asset allocation

Further information on MDA Account Details Report here

 

MDA Contract Tracking Report

Due to an update to RG179 your Limited Power of Attorney (LPoA) clients must be transitioned to the new MDA Contract. The MDA Contract Tracking Report will assist you with managing your clients’ new MDA Contracts with the following information displayed:

  • Client information (name, entity ID and adviser)
  • MDA Account information (account type, name and value, and if it is a joint account)
  • If the MDA Contract Wizard has been completed for the client (Yes/No)
  • If the client has signed their new MDA Contract (Yes/No), and the date they returned it to you

Further information on MDA Contract Tracking Report here

 

Sample Documents

To view the Wealth Axis Sample Templates, please click on the following links

  • <Link> (Created by Mikel Guyetsky on Feb 19, 2018) 

 

Recent Updates

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MDA Register

The Managed Discretionary Advice (MDA) Services provided to your clients can be recorded and tracked in the MDA Register (at Advice Process > MDA > MDA Register) in line with BT Group Licensee’s MDA policy, such as:

  • The date the Limited Power of Attorney (LPoA) was established
  • When the MDA Portfolio Account was last reviewed and when the next review is due
  • When the MDA Contract is due for review
  • Alternative Asset Allocation Bands to be applied to the MDA Portfolio Account, if you are not using your Practice’s MDA Asset Allocation Bands for this account

Further information on MDA Register here

 

Preparing new MDA Contracts

The purpose of this guide is to assist you with managing the transition of your clients' MDA Service Arrangements through XPLAN, including:

  • Capturing the details of existing MDA Service Arrangements and MDA Established Account details through the MDA Register.
  • Generating the MDA Licence Variation Contracts through the new MDA Contract Wizard
  • Tracking client responses to the licence variation.

Further information on Preparing new MDA Contracts here

 

MDA Asset Allocation Bands

You are able to set your Practice’s default MDA Asset Allocation Bands for each Risk Profile for disclosure in your clients’ MDA Contracts (based on their Risk Profile captured at Advice Process > Risk Profile).

If required, you can set the alternative MDA Asset Allocation Bands to be applied specifically to a client’s MDA Portfolio Account via their MDA Register. To find out how, in the Zendesk go to MDA > MDA Register.

Further information on MDA Asset Allocation Bands here 

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