XPLAN Version Enhancements - July 2021 (Versions 21.5.171 - 21.8.180)

XPLAN Version Enhancements - July 2021 (Versions 21.5.171 - 21.8.180)

XPLAN Version Enhancements - July 2021 (Versions 21.5.171 - 21.8.180)

Client Focus

You can now use the Advanced Search Criteria to search for fee consent accounts currently locked under the introduced account locking functionality.


Extending the work delivered in 21.5.169, the functionality outlined within the previous release notes for CFP-8668 is now available for non-individual type entities.

In addition, when a signatory declines to sign, the Provider status is now set to Ready for submission for both individual and non-individual entities (previously cleared/set to blank for individual entities).

Client Dashboard Update for All Users (21.6.174)

A new option Update All Dashboards has been added to Admin > Site > System Settings > Dashboard > Client Dashboard that enables you to bulk update the Client Dashboard for all users.

Additional Check to Confirm Deletion of Identity Record (21.6.174)

You now receive a prompt to confirm if you want to continue with deleting a record of a document stored in the Identity checks area before final deletion.

A new field Signature Type has been added to the Linked Note Attachment pop-up when linking a fee consent form from a note attachment. The default value is Iress digital signature (fee consent pdf for Iress digital signing) with any fee consent pdf for non-Xplan attachments linked as Other signature. Use of this field will be important when using the fully automated process (to be released), or if using Iress’ send to provider solution.

To preserve data and help ensure that the fee consent data that is sent to a provider is the same as the data the client agreed to (or declined), a client's account fee consent data is now locked if:

  • client fee consent status = 'pending client decision'; and
  • provider status = any status; or
  • client fee consent status = ''consented', 'declined' or 'declined - no client response'; and
  • provider status = 'ready for submission', 'submitted' or 'submission failed'.

The account is unlocked once the fields are outside of the above parameters.

Fields that are updated partway through the process, i.e.: consent response date and client fee consent status are not locked to ensure they can still be updated as required. Fields that do not form part of the core fee consent data required in a fee consent form, i.e.: consent sent date also remains unlocked.


The fields that remain unlocked are highlighted in the below screenshot.


Bulk import of fee consent data containing account's that are currently locked has the data imported for the unlocked fields only (i.e. data that is not core to the fee consent form).


Any fee consent form merged from inside the opt-in & fee consent element or from outside the element using the automatic linking functionality, account's that currently have their data locked are excluded from the merged output.



Opt-out - no client response after 120 days from next opt-in date (21.7.177)

We have updated the system setting to automatically set the opt-out status to reflect the changes in renewal timeframes that commenced 1 July 2021 with a new way to reflect the 120 days from the anniversary date in which a client has to opt-in.


To ensure existing processes that may be in place by default are not overridden, your site administrator will need to make the change within System Settings > Interface > Options. If no change is made, the settings will continue to operate as they previously were.


Before using the new configuration, the xx days after opt-in sent date field in System Settings must be blanked/cleared. You will then also be able to amend the value in the xx days after next opt-in date field to 120, with any value between 1 day and at most 120 days required as per legislation.

Pre 1 July 2021 configuration:

Post 1 July configuration (that your site administrator will need to configure):



You are now able to select the Partner when linking existing document note attachments to a partner's fee consent account.


Set an Upper Limit for the User/Client Inactive Session time Out (21.7.177)

Existing user/client inactive session timeout greater than 24 hours will be automatically set to 1440 minutes.

There is no change to the existing data where user/client inactive session timeout is <=1440 minutes (24 hours).

Improvement to Linking and Unlinking of Policies to a Document Notes (21.7.177)

To enhance your experience using document notes, we have added new functionality to improve the linking and unlinking of policies (Annuity, Asset, Liability, Life Insurance, General Insurance, Medical Insurance, Retirement Funds (UK only),  Superannuation (AU only) and Retirement Income (AU only)) to a document note.


The Select Products page is now accessed by clicking Association > Link Product and policy associations updates are reflected in existing policy > Note screen and vice versa.



You are also able to select the required clients and associate the products to the required document note.




We have added new functionality to link multiple threads to a policy and improved the front end. You can view, link/unlink multiple policies through the thread/case screen. Threads policy association supports Xmerge, Xport and audit as well.


The existing single thread association functionality is still available for use while you familiarising yourself with the new navigation. On the product page, a new Threads link is available in the left navigation (screenshot below)




The newly designed Threads page allows you to view all existing thread associations with the new functionalities:

  • view thread
  • unlinking threads from the product and;
  • quick view of linked thread details

From the product page, you can navigate to the Thread Association page from the Details tab or by clicking Threads in the left pane, allowing you to associate multiple threads, cases or leads to a single product by selecting the thread, case or lead from the Thread dropdown and clicking +.


The new thread page is available for the following Policies:

  • Annuity
  • Asset
  • Liability
  • Life Insurance
  • General Insurance
  • Medical Insurance
  • Retirement Funds (UK only)
  • Superannuation (AU only)
  • Retirement Income (AU only)

Multiple threads association is supported in Xmerge, Xport and Audit areas of Xplan.


Multiple threads association

Functionality

  • Navigate to the thread/case/lead details page by clicking on thread name in the grid or by selecting thread in the dropdown and clicking on the View button. Clicking the Back button from the Thread/Case/Lead details page navigates you back to the multiple threads association page. Clicking Remove (X) allows you to remove the thread, case or lead association from the product.
  • Associated thread, case or lead are shown in the grid based on the created date in descending order.
  • This multiple thread/case association from a product is also available in the thread/case details page; and
  • Thread/Case details screen do not show a medical insurance record without the owner linked to it.

API

You can use GET/POST/DELETE multiple thread associations from API requests.

  • GET /resourceful/entity/client/:entity_id/asset/:list_obj_index/thread_link will retrieve a collection of thread_link resources.
  • POST /resourceful/entity/client/:entity_id/asset/:list_obj_index/thread_link will create a thread_link resource; and
  • DELETE /resourceful/entity/client/:entity_id/asset/:list_obj_index/thread_link will delete all thread_link resources in this collection.

Audit

  • Audit is captured (thread_link group) when associating a thread to a product and removing thread association from a product.

Xmerge and Xport

  • Xmerge syntax can be run to retrieve multiple thread association information in xmerge output.
  • You can also export multiple thread association data by selecting a child data source (linked threads) from the parent product data source.


Product Association

  • When you open the product page, you can navigate to the Product Association page to view products that are associated from Product >Threads page (multiple thread association) and also associate, de-associate products from here.
  • Under the thread/case details tab, products associated through a single thread association field (Existing single thread association functionality) are listed with more informative columns. You can navigate to the product page from the thread/case details page by clicking on the product ID.
  • Products associated with using single thread association functionality will continue to appear in the Details tab.
  • Any product associated, de-associated from a thread/case is captured in Audit; and
  • You can also export multiple thread association data by selecting a child data source (linked threads) from the product data source.



New Functionality to Associate Products from the Task Screen (21.7.177)

We have introduced a new Links panel to the View task screen. You can use this to associate products from the Task screen with any associations also reflected in the Product > Task page.



You can associate single/multiple products to a single task and add/remove products from a task and apply to all Policies* with all updates captured in Audit.

This enhancement supports Xmerge and Xport against the task. For Xport, we have introduced a new child data source linked task under all product data sources.




Thread Template Now Shows All Attachments in Tasks by Default (21.7.179)

In a Thread template in the Task attachment tab, clicking the box Show attachments of other tasks in the template enables that box by default when the template is added to a client. Only tasks where the box is ticked will be ticked by default.

We've updated some account fields to sync data from the client’s base settings, even in scenarios where an account's core fee consent data is locked. The most common is where a decision is pending against a client, and a provider has not yet acknowledged the consent. In this case, there is still a need to update data that is not considered core to remain synced with base consent settings.

The following fields will now sync client data even when the core account data is locked: Client fee consent status, Next consent date, Consent sent date, Consent response date, Provider status, Sent to provider date, Processed by provider date.

For ease of use, a lock icon has been added to the account list table to display against an account when it is locked.




To make it easier to identify fee consent accounts with the same owner and provider, we've made the account number visible within the account name/number column in the accounts list table.

The following fields display the account number:

  • Asset - [Balance Sheet-Asset] Account/Client Number
  • Super - [Superannuation-Plans] Reference Number
  • Pension - [Retirement Income] Account Number
  • Annuity - [Annuity] Policy Number



We've also added the account number, account owner name, and account owner entity id to the existing account fee consent Datasource in Xport. These fields enable the extracting of more meaningful consent data.




When a fee consent form is merged from within the opt-in & fee consent element or when merged from outside the element, for example, merge report or via a wizard:

  • Account's owner/s are now automatically appended to the document note on merging of a fee consent form.
  • Client owned accounts show the client as the related entity on the document note. Partner owned accounts show the partner as the related entity on the document note.
  • Jointly owned accounts show the client and partner as related entities on the document note: and
  • Accounts owned by non-individual entities show the non-individual as the related entity on the document note.

Audit Trail Updated (21.7.179)

When a document note attachment is linked or unlinked to a fee consent account, we now record the action in the client's audit trail.





WealthSolver

Waive Transactional Cost for Intra-Platform Transfer (21.7.177)

In response to feedback that transactional costs do not apply to intra-platform transfers, you can now waive these fees where necessary.


Clicking the Transfer fees details button in the Details screen of the scenario allows you to select Waive transfer fees. You should only waive the transfer fees where allowed by the product provider. A message detailing when to select it appears when you hover on the information box next to Waive transfer fees.


The waiving of transfer fees will appear in the Compliance report.


Ability to Not Consider Plans on a Proposal Level (21.7.177)

We have added the ability for you to ‘not consider’ or ‘ignore’ plans at a proposal level. This allows you to include multiple proposals in one scenario and apply different combinations of plans to be considered in each proposal.

You can now select from a predefined group (based on the assets held by the client/s the modelling is being completed on) or create your own selection of plans to be not considered.


The predefined group choices appear when Add Proposal is selected. Please note that when Joint Proposal is selected the options are displayed in a pop-up box. When Client or Partner is selected the available options are displayed as radio buttons when selecting the proposal type. The default is All plans.


The following options are available, based on the Current Situation:
  • All plans - all plans and other assets will be included
  • Retirement - Superannuation and Pension plans will be included
  • Retirement and Investments - Superannuation and Pension and any Investment plans will be included
  • Super only - Super plans will be included
  • Pension only - pension plans will be included
  • Assets and Investments - any other assets and Investment plans will be included
  • Investments only - only Investment Plans will be included
  • Assets only - only other assets will be included
  • SMSF plans - only SMSF plans will be included

You can also select All Plans initially and then select any combination of plans and assets. The selection made will then pre-populate the Recommendation box in the Details screen.


For example, if Client is selected and Retirement is the selected option to model a Rollover/Consolidate proposal then the Details screen will appear as:



The Investment plan and the Other assets are shown as Not considered, allowing modelling to be completed on the superannuation plan only.


When making your own selections you need to adjust any plan or asset to Not considered via the Recommendation drop down that is to be excluded from the proposal.

As the selections can be performed on the proposal level, multiple proposals can be added to a scenario using different combinations.

In the Compare pages, you are able to select how you want to view the proposals.


Please note that investment allocation and risk profile are calculated on all holdings owned by the entity as it does not exclude any Not considered plans.



If you have multiple proposals for the Client only, All Client proposals can be selected and all plans will be included in all proposals for comparison purposes, with any Joint proposals, related to the client viewable in the Compare Proposals page.




There is also an option to drill further down by selecting the plan set such as Retirement (Client) which will only show any proposals where Retirement was selected as the plan set. When selecting your own combination of plans the plan set will be named Mixed group.




The Compare Research screen also allows for the selection of proposals that you wish to view.





You are also able to alter your view of the Projection Analysis screen based on the plan sets and proposals.



Relevant syntaxes have been updated according to the Merge Syntax Changes tab.


Aggregation Notes (21.6.174)

The Balances/Aggregation screen in scenario modelling now displays any special aggregation notes that users need to be aware of when modelling.

Pension Plan Subtype (21.6.174)

We have altered the plan subtype of Allocated Pension to Account-Based Pension to make the plan subtype more reflective of the terminology used in the financial services industry.

From version 21.6.174 this change automatically applies across researched, derived and custom plans.

We have kept the Allocated Pension as an option and if you want to maintain the previous terminology for a derived or custom plan you will need to manually update those plans.

10 Years of Past Performance (21.6.173)

We have extended the available past performance data of investment options up to a 10 year period with the additional periods added to reports and screens and is viewable when enabled in the settings.


Existing sites will not see any changes unless the site administrator alters the periods after upgrading to 21.6.173. This means you will still see up to 7 years until your site has been upgraded and periods are adjusted. By default for existing sites, the current periods that are shown are 1 month, 3 months, 6 months, 1 year, 2 years, 3 years, 5 years, 7 years.

Any new sites that are added post version 21.6.173 will have 8,9 and 10 years added to their default periods.

To change the settings of past performance investment data viewable go to Admin > WealthSolver > Performance data and select the period (up to 10 years) that is required for your site.




Listed Investment Companies Modelling (21.6.173)

Sites that use FundData as the data source now have the ability to manually add Listed Investment Companies (LIC) options when modelling via the new drop down selection option Other Listed Investment. The code for the LIC can then be added to the search.



If the LIC is listed in FundData it will appear and any investment fees and costs that are known will be shown.

You will need to manually enter the asset allocation via the option and current Edit Asset Allocation abilities.



If an LIC is added to a plan that does not allow investment into direct investments a line item will appear in the compliance report.

LIC's do not have past performance and will alter any past performance tables.

Portfolios

Portfolio Analytics Date Range Enhancement (21.7.176)

You now receive an Alert message informing of a date range error if an invalid order is entered into the From and To date fields on the Summary, Detail, Risk Attribution and Contribution tabs.

An alert message will be displayed: “Please enter a valid date range. Ensure the From date is before the To date.”

New Order CSV Export Enhancement (21.6.173)

A new Compliance column has been added to the CSV export from the New Order screen that displays the breach level that has occurred against a specific order.


This feature is only available with our new IPS proposal capability that is now available for clients to take on in their sites. If you are interested in exploring what IPS proposals offer and why you should look at turning this feature on, please speak to your IRESS account manager.

Default 'Lifetime Date" when Lifetime Attribute (6) is Selected (21.6.173)

When 'Lifetime Attribute (6)' is selected in either the New Order screen or the Quick Trade screen, the Lifetime Date will now default to today's date.

Xtools/Xtools+

Xtools+/CALM Salary Sacrifice Lever (21.6.174)

The salary sacrifice lever in Cashflow Visualise has been adjusted to be more intuitive with additional detail now provided in the side panel.

Xtools+/CALM Living Cost Lever (21.6.174)

The living cost lever in Cashflow Visualise has been adjusted to be more intuitive with the frequency now able to be set from the Xtools interface.

Xtools+/CALM Remove Importing of Rental Expenses from Cashflow Client Focus (21.6.174)

Importing of Property Expenses was adjusted to remove duplication.

Previously, Rental Expenses entered at Analysis > Cashflow were also imported, so Property Expenses were duplicated.

Now, only the Property Expenses entered into Client Focus under Analysis > Balance Sheet > Asset > Real Estate are imported.

Xtools Optimiser: Rental Expenses (21.6.172)

Rental expenses for investment properties are now included in calculations including optimisation for take home pay calculations.

General

Change to XPLAN Minimum Requirements (21.7.179)

We will no longer support the Internet Explorer v11 (IE11) browser at the end of 2021 as Microsoft is retiring IE11 on June 15, 2022.

You may still be able to login to Xplan with IE11 after this date, however, we expect a degradation in experience and as any IE11 specific issues arise, we will not be able to resolve these.

We will remind you in November and December that the support for Microsoft IE11 will end in favour of other browsers, but if you have any questions or concerns, please contact your Account Manager who will be happy to discuss this with you.

Further information can be found here.


Microsoft recently announced that their Internet Explorer 11 browser will be retired on June 15, 2022.  You can read their blog to learn more about this, future plans and the successor browser, Microsoft Edge here.


Following Microsoft’s announcement, Iress will end support for Internet Explorer 11 in Xplan at the end of 2021.  


The good news is that Xplan is already developed, supported and in use daily, by users on Microsoft Edge as well as other popular browsers including Google Chrome, Mozilla Firefox and Apple Safari. These modern browsers take advantage of the latest web standards and technologies, helping to deliver a fast, fluid and secure browsing experience for users.  

​

We will remind you all in November and December through our release notes that the support for Microsoft Internet Explorer 11 will end in favour of other browsers, but if you have any questions or concerns, please get in touch with your Iress Account Manager who will be happy to discuss this with you.   



For more information about any of the above enhancements or if you have any questions, please do not hesitate to contact support@wealthaxis.com.au




















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