Whether you’re an old hand at WealthSolver or a newbie just getting your head around this indispensable advice tool, there's always more to discover. WealthSolver, like many Xplan tools, is full of hidden valleys, harbouring lesser explored secrets which may make your advice journey that much smoother. Oftentimes, we get so used to what we’re doing that we forget to stop and take a look around.
In this blog, we’re taking a look at some of the hidden gems you may have missed when doing a WealthSolver scenario against a client record.
Let’s go for a walk!
Action!
Have you looked at the options under the Action button, beyond the Add related entity function?
Here are a couple of options worth calling out:
Quick merge
This gives you access to a menu of standard – but very useful – merge docs, such as a default SoA, research comparison, projection analysis, TMD check, etc.
Pro tip: Did you know that you can add your own quick merge templates to this section? This Community article will show you the way.
Compliance check
Bulletproof your WealthSolver modelling with one easy click. This compelling hint tells you why you should be including this check as part of your advice process.
Xmerge Syntax
Do you fancy yourself a bit of an Xmerge geek? Or do you aspire to be one? If so, then you’re gonna need to take a look at this syntax library:
If you can see it in the WealthSolver scenario, there’s pretty much a piece of code for it.
What’s more, this section also has a very useful Test Merge button to help you dip your toes in the water.
Pro-tip: Need more help in deciphering Xmerge? This Learning Centre coding module is for you.
To implement or not to implement?
Do you find the Implement button on the Summary screen a little daunting? Thinking you might break something?
Well…you may be right!
As the name suggests, this will implement the recommended plan to Client Focus (i.e. to the Assets or Retirement Assets section), to Portfolios screen, or to both. To clarify, the resulting recommended plan/holdings will be added.
So the considerations are:
- This won’t amend an existing plan. If the recommended plan is already existing, performing this action will create a duplicate plan.
- You won’t want to do this if you’re using datafeeds.
But if this is a totally new plan, and you’re not using datafeeds, then this single button could save you a lot of time.
Target Market Determinations (TMDs)
WealthSolver provides a quick and painless way for you to meet your TMD obligations.
The TMD button in the Summary screen allows you to complete your declaration:
Once that’s done, pop over to the “TMD - WealthSolver” quick merge to download the report at the click of a button:
That’s all, folks!
Do you have any WealthSolver gems of your own that should have been included here? Let us know in the comments below 👇
