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Version 2.0

Release Date 05.02.2024

Feature Focus - Household Strategies

(Dev Ref #IFF-646, #IFF-648, #IFF-649, #IFF-650, #IFF-651, #IFF-653, #IFF-670)

How?

For applicable strategies, the option to recommend a 'joint' strategy is now available. This is represented within the Strategy Builder section of iff under the label of 'Both'. 

What?

Household strategies allow users to recommend strategies relating to jointly owned Assets/Debts efficiently. The joint strategies available are:

  • Regular Savings Plan
  • Invest a Lump Sum
  • Invest via a Managed Account Structure
  • Listed Investment Companies
  • Listed Investment Trusts
  • Managed Funds
  • Exchange Traded Funds
  • Review/Refinance Debt
  • Establish an Offset
  • Gearing
  • Debt Recycling
  • Pay off debt sooner
  • Sell an asset to pay for another asset

Why?

The addition of household strategies will allow for a more efficient advice production within iff. It will also allow for a more concise Statement of Advice. 

Enhancements

Strategy Builder

  • Enhancement to the Adjustments module to allow adjustments to Household owned Assets and Liabilities within one transaction (Dev Ref #IFF-345)
  • To improve the usability of iff and to make the recommendation of strategy more intuitive, we can now hide the 'Source' field within the strategy recommendation panel when not applicable (Dev Ref #IFF-477)
  • When selecting the 'View Modelling' button within Strategy Builder, the 'Net Position' chart is now the default chart shown. This chart shows Income, Expenses & Net Worth (Dev Ref #IFF-227)

Adviser Portal

  • The creation of a Paraplanner user role. This role type will allow practices to invite External Paraplanners and restrict access to only clients they are the Paraplanner of (Dev Ref #IFF-535)
  • Three new fields have been added and are available from within the top-panel of the client; FSG Version, Date FSG Provided and Client Category. Within Client Category, we have used universal options that can apply to all practices (Dev Ref #IFF-620)

Fact Find

  • The 'Spending X% of your income' value has been updated to include all income (Dev Ref #IFF-629)
  • Removed the 'Cashflow available for investing' label (Dev Ref #IFF-629)
  • Changed 'Net Cashflow Surplus' to 'Net Cashflow'  (Dev Ref #IFF-629)
  • Insurance data entry within Superannuation has been updated to match the standard Insurance section (Dev Ref #IFF-630)

 

Fixes

Strategy Builder 

  • Within the Adjust Personal Insurance strategy, the Life & TPD cover was showing as $XXX per month, 'per month' has now been removed (Dev Ref #IFF-631)
  • The Cashflow modelling table did not include Account Based Pension Income (Dev Ref #IFF-508)
  • The Net Position Chart now includes all Income & Expenditure (Dev Ref #IFF-227)

Client Journey

  • When a client enters a Debt in to the Client Journey, it was mapping to the Adviser Fact Find without a repayment Type. It will now default to Principal & Interest (Dev Ref #IFF-313)
  • Retired clients were required to enter an Employment Income (Dev Ref #IFF-628)
  • When a client enters a custom expenditure in the Spending section it was mapping to Adviser Fact Find without an Owner (Dev Ref #IFF-434)

Xeppo Import

  • Occupation was not importing from Xeppo (Dev Ref #IFF-632)

 

What next?!

We are also nearing completion of a few of our larger integrations: 

  • ProductRex
  • Omnium
  • Xeppo push-back

 

Have any other feedback suggestions for the team? Please raise these via the ‘?’ button bottom left of screen by selecting ‘Send feedback’.  

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