Wealth Axis Wizards - Review Report: Client Review Report (Bulk Clients)

Wealth Axis Wizards - Review Report: Client Review Report (Bulk Clients)

Client Review Report (Bulk) Overview

The Client Review Report (CRR) (or Statement of Current Position) can be used as part of the client review process. When merged in XPLAN, it will be pre-populated with the selected client’s (or entity’s) recorded data, including:

  • Contact details, employment and family members
  • Risk profile, goals and objectives
  • Income and expenses
  • Portfolio holdings, assets and liabilities
  • Insurance policies
  • Superannuation contributions
  • Self-managed superannuation fund details
  • Health and estate planning

 

The CRR also includes the following features:


  1. If insurance or estate planning data is not recorded in XPLAN, the client will be asked if they would like their situation reviewed and prompted to provide further information.
  2. A Going Forward section for notes made during the review process (including an action plan), that can be kept on the client’s file.
  3. A Client Acknowledgement section for those requesting financial advice, and for clients to confirm that the details recorded in the CRR are correct and reflect their true financial position.
  4. Include a Tax File Number (TFN) Consent Form and Electronic Consent Form at the end of the merged CRR.
  5. What’s more, you are also able to select the logos you’d like displayed in the header and footer of merged CRRs. To find out how, in the Zendesk go to Administration > Your Practice logos.
  6. Did you know that you can also merge CRRs for groups of clients in bulk? To find out more, in the Zendesk go to Wealth Axis Wizards > Client Review Report (Individual Clients). 
 

How do I merge Client Review Reports in bulk?

To merge (or generate) Client Review Reports for a list of clients:

  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_3.55.40_PM.png
  2. Select the required Advanced Search or create a new Advanced Search to generate the list of clients.
  3. A list of clients that meet the Advanced Search criteria will be displayed in the Search Result section.
  4. In the Search Filter section, from the View dropdown list select Related Entities.
    1. Use this filter option to avoid merging two or more reports for a couple and their related entities

      Screen_Shot_2018-07-23_at_3.55.44_PM.png
  5. Select the clients to be included the CRR Bulk Merge, if required.
    1. If no clients are selected (ticked), CRRs will be merged for all clients
    2. If some clients are selected, CRRs will only be merged for those selected (ticked)
  6. From the menu on the left-hand side, go to Merge Wizard > Client Review Report Bulk Wizard.
  7. Enter a unique and meaningful Scenario Name (e.g. February 2018 CRR) and click Create Scenario.
  8. In the Additional Sections section, select/enter as required:
    1. Related Entities to Include: SMSF, Company, Trust.
    2. Portfolio Data to Include: Investment Holdings & Performance, Investment Holdings (By Asset Class), Investment Holdings.
    3. Include Market Commentary: Yes / No.

      Screen_Shot_2018-07-23_at_3.56.29_PM.png

      Notes

      1.      Only applicable for the ‘Individual’ entities selected in the search result list. The SMSF Details, Company Details and Trust Details sections will not be included in the merged CRR if they’ve been selected for a client that does not have any of these entity types linked to them. Furthermore, insurance policies owned by linked entities are displayed if the client or partner is selected as the life insured.

      2.      The Portfolio section of the report is pre-populated with the client’s holdings recorded in IPS. You are able to choose how the clients’ IPS holdings are displayed in the report by selecting the Portfolio option that best suits the needs of the adviser and/or client (as suggested by the name of each option). Subsequently, to avoid duplication of the client’s portfolio holdings, it is recommended that only one Portfolio option should be selected before merging their report.


  9. Click Next.
  10. Click Merge Review Report.
  11. The clients’ reports will be merged in the background. Click Ok.
  12. When the clients’ reports have been merged, click Screen_Shot_2018-07-11_at_10.39.59_AM.png to display the new system message.
  13. Click Download Report to download the zip file containing the merged CRRs.
    1. For instructions on how to print CRRs (and other documents) merged in bulk, in the Zendesk go to Administration > Printing Word and PDF documents in bulk.