Wealth Axis Wizards - Review Report: Portfolio Review Report (Individual)

Wealth Axis Wizards - Review Report: Portfolio Review Report (Individual)

Portfolio Review Report (Individual) Overview

The Portfolio Review Report Wizard enables you to easily merge a customised Portfolio Review Report (PRR) for the selected client that is pre-populated with their data recorded in XPLAN. You can:

  • Produce a single report for a couple, or for a couple and their related entities.
  • Produce consolidated reports for your client’s portfolios, providing a combined view of the accounts and assets held by the client, their spouse and related entities.
  • Select/deselect the portfolio reports to be included, and how you’d like the information to be displayed in the client’s merged report.
  • Select/deselect other sections to be included in the report, such the client’s goals and objectives, attitude to investing, insurance, and estate planning.
  • Nominate the reporting start and end dates.
  • Include a Tax File Number (TFN) Consent Form and Electronic Consent Form at the end of the merged PRR.

 

What’s more, you have the flexibility to include two of each of the Portfolio (IPS) Reports with different date ranges and grouping preferences, as required. For example, you could include two Portfolio Valuations for comparison purposes – one for year ending 30 June 2017 grouped by Position, and one for year ending 31 December 2017 grouped by Product.

You also have the ability to select your Practice’s ‘My Business’ Cover Letter and preferred header and footer to be displayed on merged PRRs. To find out how, in the Zendesk go to Custom Settings:

  • Your Practice Cover Letters
  • Your Practice logos

Did you know that you can also merge PRRs for groups of clients in bulk? To find out more, in Zoho go to Reports > Portfolio Review Report (Bulk).

How do I merge a Portfolio Review Report

To merge (or generate) a Portfolio Review Report:
  1. Search for and select the client’s (or entity’s) record.
  2. Go to Advice Process > Review > Portfolio Review Report.
  3. In the Portfolio Review Report Details panel, select/enter as required:
    1. Tick Include Related Entities to include details of portfolios owned by entities associated with the Client or Partner, e.g. their self-managed super fund.
    2. In the Cover Letter dropdown list, select where it is to be displayed in the merged PRR: Before the Cover Page or After the Cover Page (or select No if a cover letter is not required).
    3. The Use My Business Cover Letter dropdown list will be displayed if you’ve selected to include a cover letter:
    4. Select Yes to use My Business cover letter, as set up by your Practice at Group Menu > Cover Letters.
      1. Select No to use the standard cover letter.
      2. For Sections to Include, select the required sections in the merged PRR.

        Screen_Shot_2018-07-24_at_10.37.01_AM.png

  4. In the Additional Options panel, select the options required:
    1. Insurance Layout: Schedule or Table.
    2. Attitude to Investing Pie Chart: Risk Profile Only, Current Allocation Only, Both Risk Profile and Current Allocation.
    3. Disclaimer Position: After IPS Reports, End of Document.
    4. Include Market Commentary: Yes or No.
    5. Include Product Research: Yes or No.
    6. Research Outputs to Include.
      1. This option will only be displayed if you have selected Yes to Include Product Research in Step 4.5.
      2. If you have selected the Morningstar reports, they will not be included with your client’s PRR if you do not have a subscription to Morningstar’s research.

        Screen_Shot_2018-07-24_at_10.38.19_AM.png

  5. In the Additional Forms panel, select the options required:
    1. Include Tax File Number (TFN) Consent Form: Yes or No.
    2. Include Electronic Consent Form: Yes or No.

      Screen_Shot_2018-07-24_at_10.39.28_AM.png

  6. Click Next.
  7. In the Investment Reports Details panel, select the options required:

    This panel will only be displayed if the Investment option is selected in Step 3.4.

    1. Tick Combine all entities in the same Portfolio Report to merge a single report for a group of related entities.
    2. Date Range Options: Custom, Last month / End of Previous Month, Last 12 months / End of Previous Year, Last 2 years, Since Inception.
    3. Report Start Date (if Custom date range selected).
    4. Report End Date (if Custom date range selected).
    5. Report Grouping Preference:
      1. Position
      2. Product
      3. Security Type, Position
      4. GICS Industry Group, Position
      5. Portfolio, Subfund, Product
      6. Portfolio, Subfund, Security Type, Position
      7. Portfolio, Subfund, GICS Industry Group, Product
      8. Portfolio, Account, Asset Class, Position

    6. Tick the Portfolio Reports required.

      Screen_Shot_2018-07-24_at_10.53.13_AM.png

  8. In the Portfolio Valuation Reports panel, select the options required:

    This panel will only be displayed if the Portfolio Valuation option is selected in Step 7.6

    1. Report Options: Portfolio Summary, Portfolio Valuation - Simple, Portfolio Valuation with CGT Cost.
    2. Include Additional Report: Select Yes to merge additional Portfolio Valuation reports.
    3. Date Range: If Yes is selected for 8.2, select the date range for the additional Portfolio Valuation reports (Custom, Last month, Last 12 months, Last 2 years, Since Inception).
    4. Start Date and End Date: If Custom is selected for 8.3, enter the date range for the additional Portfolio Valuation reports.
    5. Grouping Preference: Select your grouping preference for the additional Portfolio Valuation reports (refer to Step 7.5 for available options).

      Screen_Shot_2018-07-24_at_11.01.31_AM.png

  9. In the Asset Allocation Reports panel, select the options required:

    This panel will only be displayed if the Asset Allocation option is selected in Step 7.6
    1. Report Options: Pie Chart, Comparison Bar Graph, Table (agreed vs actual), Table (agreed vs actual) - grouped by Growth & Defensive, Asset Allocation Breakdown.
    2. Include Additional Report: Select Yes to merge additional Asset Allocation reports.
    3. Date Range: If Yes is selected for 9.2, select the date for the additional Asset Allocation reports (Custom, End of previous month, End of previous year).
    4. As at: If Custom is selected for 9.3, enter the date for the additional Asset Allocation reports.

      Screen_Shot_2018-07-24_at_11.01.39_AM.png


  10. In the Performance Reports panel, select the options required:

    This panel will only be displayed if the Performance option is selected in Step 7.6.

    1. Report Options: Performance After Fees (IRR), Performance Before Fees (Period IRR), Performance Before Fees (Period IRR) - Cash Basis, Performance Before Fees (Period IRR) - Enhanced Cash, Performance with Enhanced Cash (IRR), Portfolio Progress Chart, Fund and Equity Investment Performance.
    2. Include Additional Report: Select Yes to merge additional Performance reports.
    3. Date Range: If Yes is selected for 10.3, select the date range for the additional Performance reports (Custom, Last month, Last 12 months, Last 2 years, Since Inception).
    4. Start Date and End Date: If Custom is selected for 10.3, enter the date range for the additional Performance reports.
    5. Grouping Preference: Select your grouping preference for the additional Performance reports (refer to Step 7e for available options).

      Screen_Shot_2018-07-24_at_11.04.28_AM.png

  11. In the Transaction Reports panel, select the options required:

    This panel will only be displayed if the Transaction option is selected in Step 7.6.

    1. Report Options: Cash Transaction Report, Purchases and Sales, Transaction Summary.
    2. Include Additional Report: Select Yes to merge additional Transaction reports.
    3. Date Range: If Yes is selected for 11.2, select the date range for the additional Transaction reports (Custom, Last month, Last 12 months, Last 2 years, Since Inception).
    4. Start Date and End Date: If Custom is selected for 11.3, enter the date range for the additional Transaction reports.
    5. Grouping Preference: Refer to Step 7.5 for available options.

      Screen_Shot_2018-07-24_at_11.05.13_AM.png

  12. In the Tax (Income) Reports panel, select the options required:

    This panel will only be displayed if the Tax option is selected in Step 7.6.

    1. Report Options: Income Tax Statement, Capital Gains Tax - Realised, Capital Gains Tax - Unrealised.
    2. Include Additional Report: Select Yes to merge additional Tax reports.
    3. Date Range: If Yes is selected for 12.2, select the date range for the additional Tax reports (Custom, Last month, Last 12 months, Last 2 years, Since Inception).
    4. Start Date and End Date: If Custom is selected for 12.3, enter the date range for the additional Tax reports.

      Screen_Shot_2018-07-24_at_11.06.10_AM.png

  13. In the Projection Reports panel, select the options required:

    This panel will only be displayed if the Projection option is selected in Step 7.6.

    1. Report Options: Current Monthly Projections, Current Yearly Projection, Projected Annual Income and Growth.
    2. Include Additional Report: Select Yes to merge additional Projection reports.
    3. Date Range: If Yes is selected for 13.2, select the date range for the additional Projection reports (Custom, Last month, Last 12 months, Last 2 years, Since Inception).
    4. As at: If Custom is selected for 13.3, enter the date for the additional Projection reports.
    5. Grouping Preference: Refer to Step 7.5 for available options.

      Screen_Shot_2018-07-24_at_11.06.42_AM.png

  14. Click Next.
  15. Click Merge Review Report.
  16. The client’s review report will be merged in the background. Click Ok.
  17. When the client’s review report has been merged, click Screen_Shot_2018-07-11_at_10.39.59_AM.png to display the new system message.Click Download Report to download the merged review report.
  18. Click Download Report to download the merged review report.

How is the Portfolio Review Report pre-populated?

Based on the options selected in Step 7 above, the merged Portfolio Review Report is pre-populated with the selected client's recorded data as follows:

Review Report Section
Where do I find client's data in XPLAN?
Goals & Objectives
Key Details > Goals & Objectives
Net Position Table

Financial Details > Asset & Liabilities

Financial Details > Superannuation

Portfolios > Portfolio > Position (Account name and Balance only)

Attitude to Investing
Advice Process > Risk Profile
Investment
Portfolios > Portfolio > Position
Insurance 
Financial Details > Insurance Policies > Personal Insurance (Policy)
Estate Planning
Key Details > Estate Planning

 

Troubleshooting

My client’s superannuation and pension accounts are displayed as Investment Assets

Superannuation and pension accounts recorded in Portfolios (IPS) (at Portfolios > Portfolio > Position) will be displayed in the Investment Assets section of the Net Position table if they are not linked to a superannuation or pension record in Client Focus (at Financial Details > Superannuation).

My client’s Portfolios (IPS) Account is not displayed in their review report

There are two possible reasons for why the client’s Portfolios (IPS) Account is not displayed in their review report:

If the IPS account has been linked to a record in Client Focus, the status of the Client Focus record (in Financial Details) must be Active:

Screen_Shot_2018-07-24_at_10.32.53_AM.png

Portfolio filtering may been applied to the client’s IPS Account. To find out more, in the Zendesk go to Portfolio (IPS) > Portfolio Report > Portfolio Filtering.

An underlying holding in my client’s Portfolios (IPS) Account is not displayed in their review report

Portfolio filtering has been applied to the underlying holdings of the client’s IPS Account. To find out more, in the Zendesk go to Portfolio (IPS) > Portfolio Report > Portfolio Filtering. 


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