Wealth Axis Wizards - SoA (Advice Doc Creator)

Wealth Axis Wizards - SoA (Advice Doc Creator)

Overview

This guide is designed to help you effectively use the Advice Doc Creator Wizard in Wealth Axis’s XPLAN to produce a Statement of Advice (SoA) that integrates your product, investment, and insurance recommendations, while also incorporating key projections in a customised SoA output.
The key features of the Advice Doc Creator Wizard are:

  1. Integration with key modules such as Client Focus, Portfolios (IPS), Risk Researcher, WealthSolver and XTOOLS+
  2. Simple, easy to follow menu structure
  3. Strategy text recommendations that are customised to reduce post-merge editing
  4. Built-in on screen instructions

Learn how to access the generic XPLAN SoA Wizard and an overview of its navigation by clicking here to view the suite of Iress training videos. 

How to access the Advice Doc Creator Wizard 

  • Within the Client Menu, go to Wealth Axis FP Tools

  • Navigate to E2E Wizard > 07 Advice Doc Creator




  1. Use the 07 Advice Doc Creator Navigation Menu on the left to navigate after selecting the relevant Wizard Scenario as instructed below.


NOTE: This wizard is a scenario based wizard. For further information on how to use and generate wizards including creating and modifying scenarios please click here.

Entity Advice Selector (Your site may not be upgraded to this version, if not please skip to Introduction section)

This page will allow you to select which entities you would like to include in the Advice document.

Please note that you will be required to select either the Client or the Partner for the wizard to generate correctly.

Introduction

The Introduction section of the Advice Doc Creator helps determine which components of the builder to include throughout the remainder of the wizard by selecting the type of Advice Document as well as the Scope of Advice to be included.

Review and update the following sections as required;

Advice Recommendation

  1. Advice for: Choose the entity (entities) for whom you wish to generate the SoA. Select Client & Partner to make this a joint advice document. 

    1. NOTE: When generating an advice document for a Company. Trust, SMSF or Partnership ensure you select Client. 

  1. What is the Advice? You will need to select the type of advice document being created. Select Statement of Advice. 
    1. Is this a No change SOA: Leave Blank. 
  1. Date to use: This date will merge throughout your advice document where appropriate. Ensure the proposal date on the Portfolio Modelling page matches this date. E.g. If you select Use Merge Date then the Proposal Date must be today. Select Use Merge Date. 
  1. Advice Priority: Is this time critical advice? If selected the relevant disclaimers will populate accordingly. Select Normal.


XPLAN Modules


This section allows users (if required) to include product recommendations from various modules within XPLAN in to the advice document. 



Users will need to determine if Product Recommendations are to be included and (if so) from which module. Users will also need to determine if Replacement of Product Advice tables are required and (if so) where from. 
  1. To include investment product recommendations tick Yes in the Include Investment Product Recommendation tick box.
  1. Users will then need to select the relevant (previously modeled) Wealthsolver scenario from the Select Wealthsolver Scenario you wish to merge into the advice document drop down menu.
  1. To include replacement advice tick Yes in the Is Replacement Advice included? tick box. Select the relevant Replacement Advice area option.
 

  1. To include insurance product recommendations tick Yes in the Include Insurance Product Recommendation tick box.
  1. Users will then need to select the relevant (previously modeled) Risk Researcher scenario from the Select Risk Researcher Scenario drop down menu.
  1. To include replacement advice tick Yes in the Is Replacement Advice included? tick box. You will be able to select the relevant Replacement Advice area options in a later page.


  1. To include any Xtools & Xtools+ modelling within the advice document tick Yes in the Incorporate Xtools/Xtools+ tick box.


Merge Output Settings

This section allows the user to include (if required) a Cover Page and Cover Letter with the advice document. 
  1. include Cover Page: select Yes to include a cover page for the SoA. 
  1. include Cover Letter: select Yes to include a cover letter for the SoA.
  1. Letter Sign Off: select the closing of choice.
  1. Include Key Contacts: if selected the key contacts for the client (e.g Client Services Manager, Receptionist etc) will be included within the SoA along with the relevant contact information. 


Client Information & Compliance Requirement

  •  Date of Client Risk Profile:

    • If the Risk Profile questionnaire is part of the Fact Find enter the same date that was entered for the Fact Find.

    • If the Risk Profile questionnaire is separate to the Fact Find enter the date that the client(s) signed the Risk Profile questionnaire. However, if the Risk Profile questionnaire has not been signed by the clients, then use the date that the Risk Profile questionnaire was completed (which may be different to the signed date). This can usually be found on the cover or at the back of the Risk Profile questionnaire. 

  • Date of Client Fact Find: enter the date that the client(s) signed the Fact Find.
    • Note: If the Fact Find has not been signed by the clients, then use the date that the Fact Find was completed (which may be different to the signed date). This can usually be found on the cover of the Fact Find.
  • FSG Version Number: Use the version number as it is on the advisers’ Financial Services Guide provided to the client. 

  • FSG Date provided: Use the date that the client had the initial meeting with the client. If this is not available, use the date that the Fact Find was signed by the clients. If this is not available, request the date from the adviser.

  • Adviser Profile Version: Use the version number as it is on the Adviser Profile provided to the client. 

  • Adviser Profile Date Provided: Use the date on the adviser profile.




At any given time you are able to use the options at the top of the page to navigate throughout the wizard by clicking Previous or Next. You may also Save & Exit to leave the wizard and return to the Client Menu or you can select Cancel. 

NOTE: selecting Cancel will ensure you leave the wizard immediately and any fields you updated may not be saved and lost. 



Once all relevant details have been completed you can select Next to continue in the Advice Doc Creator wizard. 

Scope of Advice

  1. The reasons why you are seeking advice: Ensure you detail why the client has come to seek financial advice and how they would like assistance. What is the client looking to achieve? What are their goals? What is their timeframe? 
  1. Future Considerations: Ensure any future considerations are clearly documented and recorded.


Limited, Inaccurate and Incomplete Information Warnings

Users can choose to include warnings within the advice document for limited or inaccurate and incomplete information. Select Yes or No as appropriate for each of the following options;

  1. Limited Information Warning: merge text is as follows
    1. Due to the limited nature of our advice, and with consideration of potentially incomplete and/or inaccurate information forming the basis of our recommendations, you should, before acting on our advice, consider the appropriateness of our recommendations in light of your objectives, financial situation and needs.
  1. Inaccurate and Incomplete Information Warning: merge text is as follows
    1. We note that you either declined or were unable to provide some of the information we requested. You are aware that this limits our ability to provide advice based on a full consideration of your complete situation. If you have not disclosed information that is relevant to this advice you risk making a financial decision that may not be appropriate to your financial goals, needs and objectives. Should any of the information throughout this document be incorrect or your circumstances changed, please bring this to our immediate attention as the recommendations may not be appropriate to your particular financial situation. Therefore, you should carefully assess the appropriateness of the recommendations in light of your overall financial circumstance. Of course, we will endeavor to provide appropriate advice based on the information you have provided.



Strategy Settings

Users can choose to include Flowcharts and information on how the strategy works within the merged document.
  1. Show Flowchart: where available a flowchart will merge for each relevant strategy. Select Yes or No as appropriate.
  1. Show How The Strategy Works: where available text will merge for each relevant strategy. Select Yes or No as appropriate.


Subsequent areas for Scope of Advice

The following remaining sections for Scope of Advice are areas of advice that the adviser will need to determine requirements to include. Text will automatically populate into your document based on the selections you make. For each of the areas of advice, you may choose to include by ticking (or exclude by leaving unticked).



If an area of advice is left unticked the user is able to record when that area of advice needs to be addressed;
  1. When to be addressed: Select the appropriate option as required. Leave the drop down option blank if you do not intend to provide advice in this area and do not want to provide a reason.
  1. Risk of not including: Insert a reason why this area of advice is not being addressed. 



  1. For the purposes of this example, select the tick box next to Superannuation Planning. Pre-populated text will now be available.  
  1. Insert Scope/Reason: For each selection made pre-populated text will be made available relevant to that area of advice. Users will then be able to review and update the text accordingly. 



HANDY HINT: About the Restore Default option

  1.  As users work through the wizard you may notice a Restore Default button under certain text boxes. This is because some text boxes contain default text which is editable by the user.
  1.  To restore the text in the field back to the default text click this button.
  1.  It is important to note that once you click this button any text manually entered into the text box will be deleted and will not be recoverable. 
Click on Next to continue.

Where you are now

This section allows the user to determine which components of the clients current situation should merge into the advice document. Users also have the ability to choose if they wish to edit each of those sections within the Advice Doc Creator wizard.

  1. Where you are now? By checking each box, an additional page will open in the wizard
  1. Do you wish to review/edit Client Details: If the user wishes to review (for each of the sections above) the clients Fact Find information ensure that a tick is placed in the Do you wish to review/edit Client Details box.


  1. Page Settings: Users can select to bring the client details into a seperate document. To do so you will need to click Yes in the Would you like "Where you are now" to be in the Annexures? 


Click on Next to continue.

Update Personal Details

This section has now been included in the wizard due to selecting this option in the previous page of the wizard (Where you are now). As previously suggested you are now able to review and update this section of the clients Fact Find as required.



Click on Next to continue.

Where you want to be

This page allows users to review, edit or add to the clients Objectives and Retirement details. These items will be included automatically if updated correctly during the Fact Find data entry process.

To enter in a client’s objectives, follow these steps:

  • Click the Add button in the top right corner


  • In the Objective Details, enter the following details.

    • Client/Adviser stated objective: select Client stated objective if the objective was stated by the client or Adviser stated objective if it stated by the adviser.

    • Type: select either Lifestyle or Financial depending on what type of objective it is.

    • Category: select the relevant option from the dropdown menu.

    • Option: select the relevant option from the dropdown menu.

    • Description: enter the objective as outlined in the Fact Find.

      Note: all objectives must be entered as closely as possible in the clients’ or advisers’ own words. You can change the wording a little bit (for example, to provide a bit more detail or to make an objective clearer) but the objective must resemble what the client states. THIS IS A COMPLIANCE REQUIREMENT.

      We cannot change objectives to make them, for example, sound better or more in line with a recommendation. If the objective in the SOA does not match the clients’ stated objective, this can make the SOA non-compliant.

    • Amount required: if the client or adviser has provided a dollar value for the objective, enter it here

    • Owner: select the relevant owner for the objective. This could be client, partner or both.

    • Not in scope reason: if provided, enter the reason why a particular goal or objective has not been considered for advice by the client or adviser. For example, sometimes a client may state they don’t wish to consider advice in a particular area.

    • Proposed timeframe: if provided, enter the estimated timeframe for the goal or objective to be achieved.

    • Note: this must be provided by the client or adviser. If no timeframe has been provided, DO NOT enter one.

    • Referral Required: select ‘Yes’ or ‘No’ from the dropdown options, depending on whether the goal or objective requires a referral (for example: referring the client(s) to a solicitor for Estate Planning).

    • Key benefits: if the adviser has provided an outline of the benefits of the goal or objective, enter them in the text box.

    • Once the details have been added, confirm they are correct and click the save button.

    • Note: if you have multiple goals & objectives to enter, tick the ‘Add More’ checkbox and repeat the process until all objectives have been entered.mceclip13.png

  • Further details can be input in the additional tabs below:

    • Details Tab

      • Timeframe: select the relevant timeframe from the dropdown menu

      • Date Goal Captured: enter the date the goal was captured. If no specific date provided, then enter the date the Fact Find was signed.

      • Importance: if provided, select the relevant option from the dropdown menu.

        Note: if no option has been provided, do not add one.

      • Feelings: if provided, outline the way the client feels about the objective

      • Due date: enter the due date for the goal or objective to be achieved. If no date provided, do not enter one.

      • When to be addressed: if outlined, select the relevant option from the dropdown menu. NOTE: only those items with Address Now or Ongoing Goal will be included in the advice template

      • Tracking: if outlined, select the relevant option from the dropdown menu.

        mceclip14.png


    • Adviser Notes: if the adviser has provided notes regarding the clients’ objectives, enter them into the Adviser Notes text box.

      mceclip15.png

    • How your adviser can help you Tab: if the adviser has provided notes regarding how they can help the client, enter them into the Have you thought of the followingtext box.

    • Values Tab: if provided, tick the checkbox next to each relevant option.

      mceclip16.png

    • Bucket Tab

      • Wealth Bucket: If provided, select the relevant option from the dropdown menu

      • Wealth Bucket per month: if provided, enter the $ amount the client(s) are saving towards their Wealth Bucket goal in the text box.

        mceclip17.png

      • Needs and Concerns Tab: if provided, tick the checkbox next to each relevant option.

        mceclip18.png

  • Notes: for ‘Have you identified conflict in needs, goals or objectives?’ select the relevant dropdown option. If you have selected ‘Yes’ enter the notes relating to areas where you have identified a conflict in needs, goals or objectives. If you have selected ‘No’ then move to the next step.

    mceclip19.png


  1. Enter in all the required information and select Save. 
  1. NOTE: only those items with Address Now or Ongoing Goal in the When to address field will be included in the advice template.
  1. Click Next to continue.

Your Risk Tolerance

In this section, allocate the appropriate risk profile for the client(s) by following these steps:

  • Investor Risk Profile: Select the relevant Risk Profile option for the client(s) from the dropdown menu.

    Note: The clients’ risk profile can be obtained from their risk profile questionnaire.

  • Update target from Risk Profile: Once the risk profile is selected, click Update from Client Profile to update the risk profile

    Important: you must click the button, otherwise the risk profile will not recorded.

  • Agreed Asset Allocations: Once the risk profile has been updated, the asset allocation percentage will automatically update.

  • Repeat the process for the Partner and Joint options as required.

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Risk Profile Segments

If the client or adviser has stated multiple risk profile types for different investment options, then update this section as outlined below, otherwise move on to the next step.

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In this section, allocate the relevant risk profile for the client(s) for the following segments from the dropdown menu:

  • Investments Risk Profile

  • Superannuation Risk Profile

  • Pension Risk Profile

 

Variations

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  1. Risk Profile Variation Reason: if the client or the adviser has outlined an investment recommendation that is not in line with the clients’ risk profile, then tick the relevant option/options from the list as to why the variance applies.

Click Next to continue. The following sections will be dependant on the sections included in the Scope of Advice section earlier. For each area of advice selected a new section will now be available with option to choose from for that area of advice. In this example we selected Superannuation Planning as an area of advice to be within scope. 

Strategic Advice

This section allows you to choose and edit what Strategies and the associated text to merge into the Advice Document.

You will need to complete the following fields for the strategy text to pre fill:
  1. Advice Area
  2. Advice Sub Area
  3. Advice Strategy Title


You can drag and drop the strategies in the order that you would like for them to appear in the merged document.


Superannuation Planning Strategy (This section has been replace by the Strategic Advice Area)

Within this section users will be able to select from the relevant strategy option within this area of advice they wish to implement. A list of all the possible strategy options are available from which the user must select accordingly. 



For the purposes of this example we will select two strategy types - Rollover & Commence Salary Sacrifice for client. 
  1. Place a tick in the Central Strategy 296 (Rollover your Superannuation - Commence)
  1. Select the appropriate entity for who the strategy is For- select Client
  1. Select the Priority order inn which the strategy should merge - select 1



  1. Place a tick in the Central Strategy 437 (Salary Sacrifice Superannuation Contribution - Commence)
  1. Select the appropriate entity for who the strategy is For- select Client
  1. Select the Priority order inn which the strategy should merge - select 2
For each of client and partner, the user may select as many relevant strategies as are required for each Area of Advice.

Click Next to continue.

Investment Recommendation

Where the adviser is making Investment Recommendations there are a number of relevant sections within this page of the wizard. 

Research House

Typically your licensees preferred research house will show as default however users have the ability to change if required and select from Morningstar, Lonsec, Zenith or Aspect Huntley for relevant research to merge into the advice document. 



Fund Profiles

If you would like the relevant fund profiles from the research house to be included then select this option. Note that a licence must be held for this data to merge into the document. 



Investment Approach

This option allows the user to select how the investment portfolio will be invested/managed.  Select from the drop down menu as appropriate. 



Investment Strategy

The user is able to select from the list any/all of the relevant investment assets that the client or partner will hold. 



Portfolio Management

Users will be able to select from the list how the client or partners portfolio will be managed,



Users will be able to add any recommended platforms to this table.
  1. Select Add from the top left corner of the table


  1. Select the Recommended Platforms from the list available. For the purposes of this example select Superannuation. A new field is now available. Depending on the option selected the new field available will be relevant to that option only. 
  1. Select the Superannuation Type from the list available. For the purposes of this example select Industry Fund. A new field is now available. Depending on the option selected the new field available will be relevant to that option only. 
  1. Select the Superannuation Industry Fund from the list available. For the purposes of this example select AustralianSuper Divisions.
  1. Select Save.





Items can be modified and deleted as required by utilising the  buttons accordingly. 

Select (multiple if required) options as appropriate.

When selected, users will have the ability to review and update (where required) the recommendation and reasons standard text which will populate the advice template. 



Capital Gains Tax

 If you wish to disclose CGT in the advice document please select appropriately.

 NOTE: The amount of Capital Gains Tax is not automatically calculated when the document is merged. 




Click on Next to continue.

Portfolio Modelling

This section is only available if the user selects Include Investment Product Recommendations on the Introduction page of the wizard. 



 This page displays any current investments and accounts that the client holds as well as any recommendations that have been previously made and is used to make new investment recommendations for your client.
 NOTE: Any Super and Pension recommendations (including SMSF) made here can be imported into 'Super Switch' pages of this wizard (if you have selected SuperSolver under the Settings/Scope of Advice page).

Filter Options for Holdings Overview

This section has the following filter options to view a client’s holding:

  1. Portfolio: Allows you to select which entity to view for.

  2. Grouping: Allows you to select how you would like the data in the investment recommendations to be grouped. In this example the data is grouped by Portfolio, then account:

  3. Portfolio Account: If an account has been created for the portfolio, you can select to view by the individual account or by all accounts. Please note this option will only appear if an account has been created. Click on the "edit" button to edit the account details if required.

  4. Exchange: Enables you to filter the securities displayed in the holdings overview panel by a specific exchange.



Investment Recommendations

  1. To add funds to an Existing Investment enter the value to be invested into the Adjust box.


  1. To add a new recommended investment;
    1. Click the Add button on the right hand corner of the portfolio modelling section, then select Holding


  1. Enter the details of the recommended investment.

  1. NOTE: Ensure the Native Market Value has calculated before clicking Save. If you do not do this the recommended investment will not be added to the portfolio.
  1. Click on Save.
  1. To add a new recommended investment platform;
    1. Follow the same process as above - click the Add button on the right hand corner of the portfolio modelling section, this time select Account
    1. Enter the details of the recommended platform.  
    1. To add investments to the recommended platform, follow the steps above.
  1. To deduct funds from an existing investment enter the figure as a negative amount (e.g. -$10,000) into the 'Adjust' box. 


Analysis

This section confirms whether or not the proposed asset allocation is within the reasonable range when compared with the client's target asset allocation of their agreed risk profile. Ensure that you use the Account filter to view the correct platform/account that you have made recommendations for, and that you are considering the aggregate asset allocation for the client group. There are various display options for different charts available.

This panel contains several tabs allowing you to further analyse the client portfolio. 


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  • Summary: Displays total cost, market value, cash balance etc.

  • Asset Class Allocations: Weighting/allocations between the various asset classes within a client's portfolio.

  • Security Type Allocations: Weighting/allocations between the various type of security within a client's portfolio

  • GICS Sector Allocations - Weighting/allocations between the various GICS sectors within a client's portfolio

  • Simulated Returns - Projections over time of the potential returns/losses on the client's portfolio

  • Analytics - Different financial information to view and analyse the client's portfolio (e.g. Risk and Return, Portfolio Back test)

Asset Allocation Commentary

  1. Include asset allocation commentary: Select Yes if you wish to include text within the advice document.


Click Yes to continue.

WealthSolver Analysis/Reports

This section is only available if the user selects Include Investment Product Recommendations on the Introduction page of the wizard. 


The options on this page will allow you to include a variety of additional data from the WealthSolver module and your accompanying recommendations. Some reports have been selected by default. 
  1. Select each of these options for client or partner as required. 

WealthSolver Switch Analysis

  1. WealthSolver Switch Summary: Contains details of current and proposed investment, fees, and options. Basically a brief snapshot of the overall plan.
  2. Display all investment options basic details: Contains current and proposed - Investment options, amount and ICR/ MER.
  3. Cost Comparison - Combined: A more detailed explanation Cost Comparison - Plan by Plan is available in Annexures section. Please untick option if not required or for simple one-on-one super rollover.
  4. Cost Comparison - Per Plan: A quick snapshot of fees.
  5. Include IF Scenario Costing: This option will include a table comparing current and proposed super funds using the total value to be invested. 
  6. Chart - Asset Allocation by Asset Class: Asset allocation for both existing and proposed plan.
  7. Chart - Asset Allocation by Profile: Growth and Defensive asset allocation for both existing and proposed plan.
  8. Life Risk Insurance within Super: Include Life Risk Insurance within super as calculated in Super Solver.
  9. Asset Allocation Table - Combined: Include comparative asset allocation table for Existing vs Proposed super.

Annexures

  1. Individual Investment Option Detail: Include underlying investment options of super funds.
  2. Individual Fund Performance History: Include fund performance history (based on underlying investment options)
  3. Asset Allocation Table - Growth Component: Asset allocation table of the growth component only.
  4. Asset Allocation Table - Defensive Component: Asset allocation table of the defensive component only.
  5. Balance Projection to Retirement Comparison: Balance projection for Existing Vs Proposed, table version.
  6. Research Feature Comparison (Full mode): Comparison of all features between existing and proposed funds.
  7. Research Feature Comparison (Difference Only): All similar features will be removed from the table.
Click Next to continue.

Super Replacement

This page is only available if the user selects Is Replacement Advice included? on the Introduction page of the wizard. A subsequent page would be available for each area of advice selected. 



The Super Replacement page contains replacement of product options for the advice document. 
  1. For each section, select the appropriate options.
  1. Multiple options may be selected. 
  1. If you are not replacing a financial product you may navigate back to the 'Introduction' page and select 'No'.



Select Next to continue.

Insurance Recommendation

This page is only available if the user selects Include Insurance Product Recommendation on the Introduction page of the wizard. 



Settings

  1. Select which Research House you will use. By default your licensees preferred provider will be listed. Users can choose from;
    1. IRESS Risk Researcher
    1. Rice Warner
    1. Omnium
    1. Coin Inc
    1. AdviserLogic
    1. Life Risk Online


Needs Analysis

Select the required assumptions for each type of insurance. Further options will be displayed relevant to each option which can then be selected for inclusion in the advice document. 




Underwriting Requirements

Select any further underwriting requirements as applicable. Upon selection a text box will be available to further detail all requirements. 





Click Next to continue.

Risk Researcher Analysis/Reports

This section is only available if the user selects Include Insurance Product Recommendation on the Introduction page of the wizard. 



The options on this page will allow you to include a variety of additional data from the Risk Researcher module and your accompanying recommendations. Some reports have been selected by default. 
  1. Select each of these options for client or partner as required.

Quotes Comparison

  1. Comparison Ratings Report: Include a comparative report of the Core and Supplementary scores of the available products.
  1. First Year and Cumulative Premium: Include a report showing first year premiums as well as cumulative premium for quoted products.

Premium Estimates

  1. Premium Estimates - Recommendation Only: Include a premium estimate report (for your recommendation).
  1. Premium Estimates - Yearly: Include a chart of yearly premium projections.
  1. Premium Estimates - With Projection Graph: Include a chart of yearly premium projections with a projection graph.

Premium Projections Graph

  1. First Year Premium Graph: Include a graph comparing first year premiums.
  1. Cumulative Premium Graph: Include a graph comparing cumulative premiums.
  1. Premium Projection Graph: Include a chart of yearly premium projections with a projection graph.
  1. Premium Benchmark Graph: Include a graph comparing selected products to a benchmark product.

Miscellaneous

  1. Recommendation Policy Summary: Will be supplied within the Insurance Analysis section.
  1. Recommended Policy Extracts: Will be supplied within Annexures section.
  1. Recommendation Policy Commission: Will be supplied within the Fees and Disclosure section.
  1. Stepped vs Level Premium: Will be supplied within Annexures section.
  1. Agreed Value vs Indemnity Premium: Will be supplied within Annexures section. Include only if you are recommending Income Protection Cover.
  1. Risk Researcher Reports: Includes details of Financial and Medical Requirements (if relevant).
Click Next to continue.

Insurance Product Replacement

This page is only available if the user selects Is Replacement Advice included? on the Introduction page of the wizard. 



The Insurance Product Replacement page contains 7 sections for replacement of product options for the advice document. 
  1. For each section, select the appropriate options.
  1. Multiple options may be selected. 
  1. If you are not replacing a financial product you may navigate back to the 'Introduction' page and select 'No'.














Click Next to continue.

Manual Replacement of Product

This section allows users to create their own Replacement of Product table manually. 

  1. Click the Add button on the upper right hand side of the Manual Replacement of Product Tables box.

  1. Select the Product Type, then complete the fields that open for the product type selected. Details for Current and Proposed can be entered. 


  1. Click Save and repeat for each product that you are replacing.
  1. NOTE: This page will display any previously created Manual Replacement of Product Tables for this client. Delete or edit any existing tables for the document that you wish to produce.
  1. Click Next to continue.

Xtools/+ Reports

This page contains options to include projection charts and graphs available from Xtools and Xtools+ in the advice document being generated. NOTE: You will need to know the exact name of the Xtools or Xtools+ Scenario(s) that you want to include before you begin. 
  1. Click the Add button on the upper right hand side of the Projections box.

  1. Add the details for Scenario, Source, Sub-source, Output Type and Target. You also have the ability to add comments as required. 


  1. Click Save and repeat for each Xtools or XTools + Scenario that is required.

  1. Click Next to continue.

Fees & Charges

This page allows users to record the various types of fees that are relevant to this advice document. Fees include Advice Preparation as well as Commissions and Ongoing Advice fees.

Fees & Charges

This section contains the Fees and Charges for the disclosure section of the SoA. Using this section will allow you to add any variety of remuneration you may be receiving from providing this advice
 
  1. Click the Add button on the upper right hand side of the Fees & Charges box.

  1. Select the Fee Type, then complete the fields that open for the fee type selected.


  1. Click Save and repeat for each Fee/Charge that you wish to include.
  1. NOTE: It is recommended that the following options are selected ONLY ONCE;
    1. Plan Fee
    2. Implementation Fee
  1. NOTE: The following options can be selected MORE THAN ONCE;
    1. Ongoing Service Fee (can be set to different entities)
    2. Ongoing Funds Management
    3. Transactional Costs
 

Commission / Bonus Payments

These sections allow the user to disclose any relevant Commissions or Bonus payments received by the adviser. Include as required. 



Ongoing Service Offering

This option should be selected if an Ongoing Service is being offered to the client. 

  1. Check the box to include this service.
  1. Once selected you will be able to choose a Category as well as a Client Value. 


Referrals

To be used where referral agreements are in place and need to be disclosed.
  1. Is there a referral fee payment: Select Yes as required and utilise the subsequent options. 
  1. Update the default text in the text box appropriately. 


Alternative Remuneration

To be used of there are any alternative forms of remuneration that need to be disclosed.
  1. Alternative Remuneration: Select Yes as required.
  1. Update the default text in the text box appropriately. 




Click Next to continue.

Advice Assumptions

Advice Assumptions - Library

Any assumptions about the advice provided can be included in the advice document. 
  1. Click on add in the top right hand corner.



  1. Select the appropriate Category, Option and update the default text as required.


  1. Click Save and repeat for each of the subsequent assumptions to to be included. 


Click on Next to continue.

What is Next

Forms

There are a variety of forms and authority items which should be reviewed and included (or not) as appropriate to the advice being provided. 



Ongoing Service Agreement

Select the appropriate Ongoing Service Agreement options.


Referrals

Select the appropriate referral options.



Flyers

Select the appropriate option to have flyers included (or not) with the advice document.




Click on Next to continue.

The Advice Doc Creator Wizard has now been completed. Users are able to click on Merge SOA and/or Merge Separate Annexures;
  1. Click on Merge SOA 

  1. Select Execute.

  1. The following message appears advising that the document is being generated and will be available for download shortly. 



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