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Version 2.6

Release Date 11.11.24

Feature Focus

Over the following week, 3 new tailored strategies will be rolled out to all AFSLs. Whether you're providing strategy or you wish to include them in the modelling, these strategies will have a significant impact on the time to model each situation. 

Each strategy includes tailored inputs to streamline the advice process: 

  • Salary Sacrifice Super Contributions - This strategy will allow you to recommend a Fixed Salary Sacrifice amount or select maximum which will maximise the annual concessional cap. Please note; this will supersede the current Salary Sacrifice strategy. 
  • Purchase Investment Property - The Purchase Investment Property will allow you to include enter any capital impact and ongoing income/expenses relating to the Investment Property within the one set of inputs.
  • Purchase Primary Residence - This strategy will allow you to easily include a purchase of a new primary residence for non home-owners. Within this strategy, you will be able to enter the impact on Bank Balance (e.g. the clients deposit) and any mortgage associated to the home. Please note; this will also change the Centrelink Status of this client to now be a Homeowner. 

 

Enhancements

Client Journey

  • When inviting a client to complete a Client Journey, users will now be able to exclude Retirement Lifestyle.

Fact Find & Goals

  • Ability to include an Offset Account in both the Primary Residence & Investment Property.
  • Users will now have the ability to specify the repayment amount or set the maturity date within Investment Properties. Previously, the Investment Property repayments were calculated based off maturity date. 
  • Retirement Goal now has one input to specify what the Retirement Living Expenses will be when both client & partner are retired. 
  • Ability to enter multiple fees against Superannuation Accounts.
  • Insurance Renewal Date was previously a required field but had no impact on the modelling. The necessity of this field has now been removed. 
  • Lifestyle Assets are now segregated from Investment Assets, streamlining the data entry.

Strategy Builder

  • A new row has been added to the Cashflow Summary table to show Bank Balance Return.
  • If you utilise the 'Withdraw/Sell Investment' strategy to sell an Investment Property, it will pay off the Debt prior to transferring the proceeds to Bank Balance. Any Rent attributed to this Real Estate item will also cease. 
  • Frequency options of Per Year and Per Quarter have been removed from within strategy. As iff utilises a monthly projection
  • The ability to set a frequency of 'Per Year' & 'Per Quarter' in Strategy Recommendations has been removed. As iff utilises a monthly projection period, entering a annual amount within a monthly period was causing flow on impacts to PAYG calculations. 

Integrations

  • Pushing data back to Xeppo is now available in Beta mode for users that have a Xeppo subscription. If you're interested in participating in the Beta, please contact support@opexconsulting.com.au 

Fixes

Fact Find & Goals

  • Changing client surname inadvertently caused Insurance to no longer be linked correctly. 
  • When selecting Child Cover, you were unable to enter the Childs name.

Strategy Builder

  • The Spouse Contribution strategy was incorrectly calculating the offset.
  • The Cashflow Summary Table was showing Non-Concessional Contributions from the Fact Find but not the Strategy. 
  • Within the Income/Expenditure Chart; the Retirement Benefits category was including Insurance Premiums.
  • When selecting Auto as the Drawdown for all Transition to Retirement strategies, it wasn't including all income and expense sources in the calculation.
  • When client has multiple Superannuation accounts, the NCC was evenly distributed between each account rather than contributing the full amount to the default account. 
  • If your practice utilises CPI for indexing of Contributions, the contribution was ceasing after one financial year.

Integrations

  • Xeppo Import failed if Dependant Surname was blank.

Generate Document/Templates

  • Cashflow table in SOA not showing updated expenses from Strategy.
  • When entering Fees to the Generate Document screen, the Asset Name wasn't saving.
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