Who says research has to be a chore?
In our previous posts, we looked at how WealthSolver evolved from its ‘SuperSolver’ roots into a powerhouse for compliance and automation. But if you’re only opening WealthSolver when you’re deep inside a client’s file, you’re missing out on half the fun.
Welcome to the WealthSolver Research Hub; your strategic headquarters. You’ll find everything from quick comparisons, to detailed plan research and a full reference and PDS library. Think of it as the space where you can master the market, review the latest research and do all your thinking before you even start an advice document.
Whether you’re a seasoned pro or just discovering WealthSolver does way more than simple super comparisons, let’s take a tour of the tools that turn you into a research powerhouse.
1. Quick compare: The "speeddating" of plans
Need to see how a few funds/plans stack up without the faff of creating a client record? The Quick Compare feature is your best friend for efficient, non-client-specific analysis. It’s perfect for those "what if" moments or when you’re scouting for new products to add to your APL.
The suite is broken down into four powerful sections:
- Features: Compare the features side-by-side covering Product Overviews, Product Details, Investment Details, and Insurance Details. You can even see a Features Rating for each plan to get a quick pulse on how they rank.
- On-Going Fees: Running a "fee vs fee" comparison here allows you to input hypothetical account balances and contribution levels. It calculates the actual dollar impact of admin fees, investment fees, and buy-sell spreads, giving you a clear picture of the true cost of ownership.
- Investments: Contrast asset allocations and historical performance across multiple plans. If a fund doesn't have performance data available, it simply shows as 0%, so you always know exactly what data you're working with.
- Insurance: Run insurance quotes across multiple plans simultaneously, with the ability to compare features. It’s fast, visual, and incredibly effective.
Pro Tip: Use the "Show differences only" checkbox. It cuts through the noise and highlights exactly where plans diverge, saving you from scrolling through pages of identical fine print.
2. Researcher: The deep dive
WealthSolver Research is where the magic happens. Remember, WealthSolver isn't just software; it’s built on over 20 years of independent, rigorously collated data.
- View Plans: Access detailed research on over 800 retail, industry, corporate funds and investment plans. Detailed filters are available, to drill down as you need. Opening a plan will give you detailed information for Product Overview, Product Details, Product Costs, Investment Details, Insurance Details and Plan Categories.
- Investment data: This is a fan favourite Used by Plans. Search for your chosen manager or security, then scroll down to the Used by Plans heading. This reveals every platform that offers that option, acting like a reverse search engine for your APL. You are also given the Profile, Asset Allocation and Past Performance.
- Investment performance: Need to hunt down the top performers? You can use Investment Performance to filter the market based on your specific criteria. Whether you're looking for funds that have returned "Greater than 10%" over the last year or a specific 3-year window, you can instantly generate a comparison table and bar chart for up to 10 options. It’s a brilliant way to visually contrast historical returns before moving into deeper strategy modelling.
- Insurance Rates & Features: When you need a quick insurance quote without the full scenario modelling, this is your go to. By entering basic criteria; occupation, age, and salary, you can instantly calculate premiums for Life, TPD, and Income Protection. The real power, however, lies in the Compare Features button. It pulls up a side-by-side breakdown of exclusions (like pandemic illness or self-inflicted harm) and fixed cover details, giving you a crystal-clear view of the value beyond just the premium cost.
- Key features: This is the ultimate "filter and find" tool. You can search the entire database for plans that meet your exact requirements. You can stack criteria to narrow the field. Once you've found your matches, you can select them and hit Add to Quick Compare to jump straight into a side-by-side analysis. It’s the fastest way to turn a broad market search into a refined shortlist.
3. Knowledge Base: Your compliance library
Forget hunting through old emails or bookmarked websites for a PDS. The Knowledge Base within the Research Hub is your one-stop library for staying informed and compliant:
- PDS Library: Access a massive, regularly updated repository of Product Disclosure Statements and Target Market Determinations for super, pension and investment plans. It’s the ultimate time-saver for your technical research.
- Reference: This is your technical library. It houses critical guides and methodology documents, covering everything from buy/sell spreads and fee calculations to detailed guides on modelling SMAs and SMSFs, ensuring you have the 'how-to' right when you need it.
4. The Tools: Configure it your way
WealthSolver Tools allow you to configure the research to
- Custom Plans: Set up brand new custom plans from scratch (e.g. you may want to add a Self Managed Super Fund that is not related to any researched plan) or derive a new plan by copying an existing plan. This can be useful when you want to set your business default contribution and adviser fees but want all other aspects of the research to continue to be updated automatically.
- Model Portfolios: Build model portfolios and correlate with risk profiles to enable automatic plan review and automatic switching.
- Transition to Retirement: The Transition to Retirement (TTR) tool helps you determine the benefits for a client implementing a TTR strategy before completing the detailed recommendation in a client-specific scenario. General information is entered and the tool produces a comparison chart and projection outlining how the strategy may work for your client.
What’s your Research Style?
Are you a "Quick Compare" specialist who loves a high level scan, or a "Deep Dive" researcher who needs to know every underlying asset allocation?
Whatever your style, the Research Hub is there to support you.
More detail can be found on the Iress Community or look for WealthSolver micro-learns in the Iress Learning Centre
