Overview
User feedback highlighted that you wanted a streamlined way for WealthSolver to replicate an asset mix from one plan to another. This insight guided the creation of a new solution to improve workflow efficiency, and also enabled the ability to waive transaction costs.
What’s New?
The Add Investments screen has been developed with a new dropdown option that enables users to select current investment options for the proposed investments.
Transaction Fees can now be waived with a single tick at the time of selecting investments. Once ticked, Investment Fees are waived for that transaction.
These features allow users to seamlessly process a rollover transfer and replicate an asset mix from one plan to another in WealthSolver, making it simpler and more efficient to replicate one plan to another.
Why we introduced these features
The retention of an existing portfolio is a common occurrence for clients transitioning into the retirement phase, and their super accumulation account needs to be transferred to an account-based pension (in-species transfer).
Further, some licensees require advisers to consider alternative products when comparing super / investment plans, typically requiring the use of a common set of assets/investments to be set across all products being compared.
By providing the ability to seamlessly clone a portfolio mix, apply it to any required plan, and specify within the same process whether withdrawal fees are applicable. You can now quickly replicate an asset mix from one plan to another and complete an in-specie transfer.
See it in action
Detailed information can be found within the Community here.
Key Features
Simplified Portfolio Cloning: Users can quickly replicate an asset mix from one plan to another with a simple click.
Straightforward transactional cost waiving: You can indicate when to waive transactional costs (such as buy/sell) with a single click within the same process of cloning portfolios.
Streamlined Workflow: The ability to copy an existing portfolio mix to a new plan and, within the same transfer process, waive transfer fees. saves time and provides a streamlined process.
Next Steps
This feature will be automatically rolled out in Xplan Release 26.2.472.
For further assistance, please contact your Support Team.
