Step 2: Merge ROAs in Bulk

Update the Target Set

How do I update (or edit) the Target Set? 

1. Go to XPLAN > Orders and Modelling Functions > Portfolio Modelling:
   
   
   
   
2. In the menu on the left-hand side, go to Target Sets > Target Sets:
   
   
   
   
3. In the category list, select the category for the Target Set:
   
   
   
   
1. A list of Target Sets in the selected category will be displayed:
   
   
   
   
2. Click  for the Target Set to be updated. The Edit Target Sets dialog box will be displayed.
   
   
3. Make the required changes.
   
   
4. Click Save, or Save As to save the modified Target Set with a new name (this will leave the edited Target Set in its original state)
   
   

Rebalance Clients in Bulk

1. Create a Saved Search for clients that have confirmed their personal and financial situations have not changed.
   
2. Use your Saved Search to rebalance the clients’ portfolio accounts in bulk using Portfolio Group Modelling.
   

How do I create a Saved Search for my bulk portfolio account rebalance?

1. Click Advanced in the search area of the Title Bar (at the top right-hand corner of the screen):
   
   
   
   
2. Click Advanced Search (at the top of the list of saved Advanced Searches).
   
   
3. Click Add (in the top right-hand corner). The Add Search Criteria window will be displayed.
   
   
4. In the Campaign tab:
   
   
1. From the Expression dropdown list, select Expression.
   
2. For Campaign, use to search for and select the required Campaign.
   
3. From the field dropdown list, select Outcome.
   
4. From the Operator dropdown list, select Equal.
   
5. From the value dropdown list, select Client attestation received.
   
   
   
   
5. Click Add.
   
   
1. Alternatively, if you require multiple search criteria, each item will need to be added separately. To do this, click Add More and add your criteria as required.
   
   
6. Your Search Criteria will be displayed:
   
   
   
   
7. Click Save. The Save Search Criteria window will be displayed.
   
   
8. Enter or select the required details for the Saved Search Criteria:
   
   
1. Name.
   
2. Description: This is what will be displayed in the Saved Search dropdown list when you rebalance your clients’ portfolio accounts in Step 3c below (in How do I rebalance my clients’ portfolio accounts in bulk?).
   
3. Permission: Set the visibility for the criteria (e.g. Share with my groups).
   
4. Available to Referrer Access: Controls the ability for referrers to run the search criteria.
   
   
9. Click Ok.
   
   

How do I rebalance my clients’ portfolio accounts in bulk?

1. Go to XPLAN > Orders and Modelling Functions > Portfolio Modelling:
   
   
   
   
2. On the left-hand side menu, click Model Effects:
   
   
   
   
3. In the Filters section:
   
1. For Effect for select Portfolio.
   
2. For linked to, select the required Target Set.
   
3. Select Saved Search and select your Saved Search from the dropdown list (you will need to search for the Description entered in Step 8b above in How do I create a Saved Search for my bulk portfolio rebalance?).
   
4. From the Aggregation dropdown list, select Portfolio Grouped.
   
   
   
   
4. Click Search.
   
5. All clients and portfolio accounts meeting the Filter criteria will be displayed in the Model Effects section, with the buy/sell transactions required to rebalance each client’s portfolio account in line with the Target Set.
   
1. When linking the client’s portfolio account to the Target Set, did you use Advanced Mode to set a cash reserve (% or $ value)? After rebalancing the client’s portfolio account, this may result in an over- or under-allocated amount for the proposed portfolio. Subsequently, an adjustment may be required for the cash account balance. Before completing Steps 6 and 7 below, follow the instructions at the end of this section for how to complete this step.
   
   
6. Click Accept as Proposal.
   
7. The clients’ portfolio accounts will be rebalanced in the background. Click  to display the new system message.
   
8. Repeat Steps 3 to 7 above for other Target Sets, as required.
   

Cash Reserves: Adjusting your clients’ cash accounts when rebalancing

For example, the current balance of the cash account in the client’s portfolio account is $5,500, and the cash reserve has been set at $2,000: 

After the client’s portfolio account has been rebalanced in Model Effects in line with the linked Target Set, there is an overall unallocated amount of $3,500 for their portfolio account (being the current cash account balance of $5,500 less cash reserve of $2,000 = $3,500):

To bring the cash account in line with the cash reserve and reduce the over-allocated balance to nil, an adjustment of -$3,500 is required for the cash account:

 
 

Merge RoAs in bulk

How do I access the ROA Bulk Rebalance Wizard?

1. Return to your Saved Search. To do this, click List in the search area of the Title Bar (at the top right-hand corner of the screen) and then select Last Search:
   
   
2. A list of clients that meet the Advanced Search criteria will be displayed in the Search Result section.
   
   
3. From the menu on the left-hand side, go to Merge Wizard > ROA Bulk Rebalance Wizard:
   
   
   
   
4. Enter a unique and meaningful Scenario Name (e.g. July 2017 Portfolio Rebalance RoA) and click Create Scenario.
   
   
5. The ROA Details page and the standard menu will be displayed:
   
    

What screens are displayed in the ROA Bulk Rebalance Wizard menu?

ROA Details

This screen is used to specify the RoA Date:

Advice

1. ROA Incomplete Information: Use the drop down menu to make your selection.
   
2. Reasons for my recommendations: Select the applicable tick boxes in line with your advice. This will drive wording displayed in the merged RoA documents.
   
3. Things to consider: Use the applicable tick box selections in line with your considerations. This will drive wording displayed in the merged RoA documents.
   

Advice & Product Fees

1. Recommended Investment Fees are more expensive than existing because...: Add explanation as to why the investment fees have increased.
   
2. Do you want to include other implications of investing: Selecting Yes will enable you to enter your text as you’d like it to be displayed in the merged RoA documents.
   

Important information & Next Steps

1. Limitations and Specialist Advice: This section requires you to indicate what areas of your advice may have tax implications and to confirm that you are not providing taxation advice in relation to certain areas in your advice. This is in line with the TASA regulations.
   
2. Other Specialist Advice: If you are also acting in capacity as another adviser, select Yes and specify in which capacity from the Acting in capacity as... dropdown list.
   
3. Notes / Alternative Strategies Considered / Other Comments: Enter details Please enter any notes, comments and alternative strategies considered. Each line creates a new bullet point in the RoA.
   
4. Other Relationships: Enter details of any relevant associations and relationships that you hold that might be reasonably expected to influence your advice.
   
   

How do I merge my clients’ RoA documents?

1. Once the Next button is selected on the Important Information & Next Steps screen, you can then merge (or generate) the RoAs. Click ROA Bulk Rebalance:
   
   
   
   
2. Confirm the details of the Note to be saved against each client’s record:
   
1. For Target select if you would like a note saved for either All listed clients or Only Selected Clients.
   
2. Subject name of the note.
   
3. Using a drop down menu, select the combination of Note Type and Note Subtype.
   
   
3. Click Execute (or Close to cancel).
   
4. The RoAs will be merged in the background. Click Ok.
   
5. When the RoAs have been merged, click  to display the new system message.
   
6. Click Download Report to download the merged RoAs.
   
7. Review each client’s ROA and update as required.
   
8. For instructions on how to print letters (and other documents) merged in bulk, refer to Appendix 2: Printing Word documents in bulk in this workbook.
   

Post-merge editing of the RoA documents

Record RoAs delivered to clients

How do I record delivery of RoAs to my clients?

1. Go to XPLAN > Administration Functions > Campaigns.
   
2. In the Filters section, from the Remaining/Max dropdown list select the required Campaign.
   
3. The clients added (or linked) to the Campaign will be displayed.
   
4. For each client, in the Outcome column, select ROA sent from the dropdown list: