Workflow - Alerts Manager
Alerts Manager Overview
While the name suggests that only a dealer group may use this feature, this unique exception reporting function can be an important tool for an adviser by notifying them of sales opportunities or monitoring portfolios for movement outside a set benchmark.
Different levels of actions can be applied – notify, warn and breach. Each of these levels defines whether action needs to be taken.
Adding an Alert
Set up an automated exception rule:
- XPLAN button, Administration Functions > Alerts Manager
- Click the Add button to create a new rule
Further information on Adding an Alert here
Search Criteria – Multiple Criteria
Multiple criteria can be searched for simultaneously by using AND, OR and NOT filters:
- AND - All criteria within the AND filter must be met
- OR - Results will meet any one or more criteria in the filter
- NOT -Inverts or negates the other two filters (returns the opposite results).
-
NOT AND returns clients that don't meet all the criteria in the AND filter, and NOT OR returns clients that don't meet any of the criteria.
To use these filters:
- Select either an AND or OR filter.
- Tick NOT if you wish to negate the filter's function.
- Click OK. The filter criteria is added.
- Now click
on the filter to add criteria to the filter.
- Select the criteria settings.
- Click OK. The criteria is added to the filter.
- Continue to add the alert rule to be searched for.
Alert Manager Reporting
A variety of reports can be generated which summarises or details the result of the rules exception run; these are available from within the Alerts Manager function of XPLAN.
- To view the IRESS Insights Video, please view the following link here. (Created by Anthony Derriscott on July 27, 2016)
Types of alerts manager reports
1. Entities matching an alert rule.
- Generates a report on which clients have breached a specific alert rule on a certain date.
- Alert Rule - select the alert rule to report on
- Dates - select the date that the alert rule was processed
- Previous - tick to only report on clients who also breached the alert rule on a previous date
- Sort - choose how the report information will be sorted:
2. Summary matching alert rules
- Generates a summary of select alert rules between two dates. The summary includes tabular and graphical results of:
- total number of breaches per rule
- total number of breaches per adviser
- total number of breaches per user group.
- Date Range - the two dates that define the period to be reported on
- Alert Rule - tick the alert rules report on.
3. Unresolved breaches for x days
- Generates a report on all breaches that have been unresolved for a selected period of days.
- Days - the number of days that a breach has been unresolved for
-
Sort - choose how the report information will be sorted.
Hints and Tips
The rules will be run on the scheduled day between 7pm and 8am. If the rule is not completed in that time it will pause and recommence the next evening.
Alert Manager Examples
Portfolios which have returned less than 5%(IRR) in the last 12 months
No financial needs recorded
Portfolios which are outside the agreed minimum or maximum asset allocation limits
Clients whose last FSG was provided more than 12 months ago
Portfolios exposed to a single fund manager by more than 30%
Exposure to any one asset sector by over 60%
More than three products in a portfolio which are not in a specific (Licensee prescribed) APL
Clients exposed to a HunterHall product who earn less than $80k
Any holding traded in and then out within the last 60 days
Other Examples
The examples are listed below:
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