Wealth Axis Wizards - MDA: MDA Register

Wealth Axis Wizards - MDA: MDA Register

MDA Register Overview

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

Furthermore, you are able to use the data captured in the MDA Register to generate a list of clients with an MDA in place. For example, which clients have an MDA Portfolio Account due for review this month?

Did you know that you can set your Practice’s default MDA Asset Allocation Bands for each Risk Profile? To find out how, in Zendesk go to Wealth Axis Wizards > MDA > MDA Asset Allocation Bands.

Note: The MDA menu will only be displayed in XPLAN for advisers authorised by their Licensee to provide MDA Services. If you require access to this menu, please contact your Technology Implementation Manager



How do I record or update a client's MDA Service?

To record or update a client’s MDA Service:

  1. Locate the master client’s (or entity’s) record in your XPLAN CRM.

  2. Go to Advice Process > MDA > MDA Register:

    • The MDA menu will only be displayed in XPLAN for advisers authorised to provide an MDA Service. If you require access to this menu, please contact your Technology Implementation Manager.

      Screen_Shot_2018-07-23_at_11.38.40_AM.png

  3. The Portfolio Accounts recorded for the Client and Partner in Client Focus (at Financial Details > Assets / Superannuation) will be displayed. Locate the required Portfolio Account and click on the Screen_Shot_2018-07-11_at_10.29.14_AM.png icon in the Action column:

    Screen_Shot_2018-07-23_at_11.38.46_AM.png

  4. In the MDA tab, enter the required information for your client’s Portfolio Account:
    • MDA Established: Select Yes.
    • LPoA Establishment Date: The date the Limited Power of Attorney (LPoA) was established for the account.
    • Last MDA Portfolio Account Review: The date of the last review of the account.
    • Next MDA Portfolio Account Review Due: The due date for the next review of the account.
    • Next MDA Contract Review Due: The due date for review of the MDA contract.

      Screen_Shot_2018-07-23_at_11.38.52_AM.png

  5. To record alternative Asset Allocation Bands for this Portfolio Account only, click on the Asset Allocation Bands tab and record the Lower Limit and Upper Limit for each asset sector.

    • The Asset Allocation Bands recorded in the MDA Register for the Portfolio Account will be disclosed in the client’s MDA Contract.

    • If Asset Allocation Bands are not recorded in the MDA Register for the Portfolio Account (in other words, the bands are left blank), your Practice’s MDA Asset Allocation Bands based on the client’s Risk Profile will be disclosed by default in their MDA Contract.

      Screen_Shot_2018-07-23_at_11.39.03_AM.png

  6. Click Save. The MDA Service details for the Portfolio Account will be displayed in the MDA Register. 

 

Search for and generate a list of clients using Saved Searches

Saved Searches are pre-defined Advanced Searches in XPLAN. You can also create your own Advanced Searches and save them for future use.

We’ve set up a number of MDA-related Saved Searches to enable you to generate a list of clients due for MDA review, including:
  1. MDA Review Account Next 30 days: Clients with an MDA Portfolio Account due for review within the next 30 days (including today’s date).
  2. MDA Review Contract Next 30 days: Clients with an MDA Contract due for review within the next 30 days (including today’s date).
To search for clients with an MDA Portfolio Account or MDA Contract due for review within the next 30 days:
  1. Click Advanced in the search area of the Title Bar (at the top right-hand corner of the screen):

    Screen_Shot_2018-07-23_at_11.50.06_AM.png
  2. Select the required Saved Search:

    Screen_Shot_2018-07-23_at_11.50.13_AM.png

  3. A list of clients that meet the Saved Search criteria will be displayed in the Search Result section.

    • Related Articles

    • 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 ...

    • Wealth Axis Wizards - MDA: MDA Contract Tracking Report

      MDA Contract Tracking Report Overview 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 ...

    • Wealth Axis Wizards - MDA: MDA Account Details Report

      MDA Account Details Report Overview 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 ...

    • Wealth Axis Wizards - MDA: MDA Asset Allocation Bands

      MDA Asset Allocation Bands Overview 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 ...

    • Wealth Axis Wizards - MDA: Preparing new MDA Contracts

      Preparing new MDA Contracts Overview 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 ...

    • Popular Articles

    • Wealth Axis Files - Naming Convention

      File Format: Date, Client Name, File Name Date - yymmdd E.g: 12 Sept 2013 - 130912 E.g: Undated - 010101 Client Names One Client / Only primary client (John Smith) E.g: Smith, J Two Clients (Primary and Secondary Client/Client and Partner) - Married ...

    • Wealth Axis Wizards - Overview

      Overview  This article is designed to help you effectively use the Wealth Axis Wizards in XPLAN. The key features of the Wealth Axis Wizards are: Integration with key modules such as Client Focus, Portfolios (IPS), Risk Researcher, WealthSolver and ...

    • New User Manual - Admin

      XPLAN and the Advice Process Overview Many advisers use the Advice to Client process to manage the advice process in their business. To enable participants to be able to relate to the different modules in XPLAN, this course is structured along the ...

    • Administration - Email: Setting up the Outlook Plugin

      Outlook Plugin - Overview  Outlook Plugin is a function available with XPLAN that allows you to quickly and easily save and record email correspondence in the XPLAN document library as a Note that is linked to a client or user entity. This allows for ...

    • XPLAN Workshop - XPLAN Client Setup

      Introduction Overview     Each practice deals with leads, referrals and potential clients differently. However, most practices have a system regarding the way client information is recorded and relationships with clients are managed. In this section, ...

    • Recent Articles

    • XPLAN Legislative Rates June 2022

      XPLAN Legislative Rates - June 2022 Legislative rates have been updated to reflect: 1. Social Security rates effective July 2022 2. AFSA Retirement Standard Benchmarks for the March Quarter 2022.  Social Security Rate Changes - July 2022 The rate ...

    • XPLAN: Task Notifications - Redirecting

      XPLAN: Redirecting Task Notifications XPLAN task notifications can be sent to your Email Inbox (e.g. Outllok, Gmail) to notify you if a task has been created, unactioned, is overdue or complete. If the task notifications cannot be turned off, then ...

    • XPLAN Version Enhancements - 18 November 2021 (Version 21.11.195)

      XPLAN Version Enhancements - 18 November 2021 (Version 21.11.195) Client Focus Digital Signature Notification will Honour the "Override from Address" when sent by Super User The notify signatories template configured in system settings > client focus ...

    • XPLAN Version Enhancements - November 2021 (Version 21.11.194)

      XPLAN Version Enhancements - November 2021 (Version 21.11.194) Client Focus New Current Residential Address Field A new field, current residential address, has been added to record a client’s current address. When entering the first address for a ...

    • XPLAN Datafeeds: HUB24 Enhancements (v4.3) 29 October 2021

      HUB24 Enhancements: 29 October 2021 HUB24 have released enhancements to their  XPLAN EPI 4.3 datafeeds, to be effective 15 November 2021. Below is the information directly from HUB24 on the enhancements. The Individual Holding extract is where the ...