Trust Fact Find explained

[mary.galloway]

Overview

The trust fact find allows you to generate a fact find, including hard and soft facts, for trust clients. It is only visible in the client menu when accessing a trust client.

Where we believe areas of the wizard are self-explanatory, we haven’t reproduced that here.  As always, though, we are open to feedback if anything needs to be clarified or included.

What is it?

• A structured way of capturing and updating your trust client details
• Our standard solution to record hard and soft facts for your client
• Generates for one trust at a time (not in bulk)
• Can be used to take a snapshot of all of a trust’s fact find information at a point in time
• The current version is not smart styled so can be formatted in Word post print

Key benefits

• Consistency between data capture and the report
• Synchronised data from your trust record to avoid re-keying
• The wizard takes users through the pages to capture all relevant data
• Notes fields available on all pages
• Ability to reflect your logo on the front cover

WIZARD

The fact finds in Xplan are all ‘wizard’ based - where you are guided from screen to screen to capture the information in a structured way.

The wizard is used to capture information and to generate a merged document at the end.

You can work through the wizard using the Next and Previous buttons, located at the top right and lower right of the screen, or by using the menu on the left of the screen.

Mandatory fields are marked with an asterisk. If you are in edit mode (ie. entering data on a page) you will not be able to move from that page unless the mandatory fields have been updated and saved.

Data previously recorded in the CRM or Financial sections will automatically be displayed in the wizard, there is no need for re-keying.

Any changes made in the CRM section will update the fact find and vice versa, keeping the fact find and CRM synchronised.

The Save & Exit button allows you to return to the wizard at a later stage to complete the data. For example portfolio data may require a letter of authority to obtain the information.

Fact find options page

Fact find options page
Date of fact find	Select date from calendar or enter date as format dd/mm/yyyy
Certified copy received?	Yes, No, Blank (default)
Is there a settlor’s letter of wishes?	Yes, No, Blank (default)
Do all trustees have to sign any documentation?	Yes, No, Blank (default)

  

Key Details

This page is compiled of 3 sections:

• Business details
• Primary contact
• Notes

If the trust data has already been recorded in the Client Menu pages (Main, Contact & Communication, Key People etc) the fact find pages will be pre-populated.  Alternatively you can update the data directly into the trust fact find.

Key Details
Trust Name**	This field is mandatory, as indicated by the double asterisk. ** All other fields are optional.
Trust Number	Free text
Legal Entity Identifier	Free text
Trust Type	Bare, Discretionary, Interest in Possession, Accumulation, Mixed, Settlor-interested, Non-resident, Other
Trust Objectives	Provide for Spouse, Provide for Children, Provide for Grandchildren, Provide for Self, Charity, Other
Date of Will/Deed	Select date from calendar or enter date as format dd/mm/yy
Location of Deed	Free text
Loan Scheme?	Yes, No, Blank (default)
Discounted Gift Scheme?	Yes, No, Blank (default)
Trust Instrument	Settlement Deed, Will, Intestacy
Power to Delegate	Yes, No, Blank (default)
Delegate Name	Free text (only displayed if above answer is Yes)
Expression of Wish	Free text
Designation	Free text

Primary Contact
Contact Person Forename	Free text
Contact Person Surname	Free text

Notes
Notes	Free text

As notes are included on all pages of the fact find there will be no further screenshots of the Notes fields unless they are specific to a module eg. Trustee Notes, Asset Notes etc.

Contact Information

This page is compiled of 3 sections:

• Address
• Contact
• Contact Notes

One option of each entry type will be marked as ‘Preferred’.  If there is only one instance, eg. mobile number, it will automatically default to ‘preferred’.  

You also have the option to select which instance is to be the preferred one.

Key people

This page is compiled of 10 sections:

• Key People
• Trustees
• Trustee Notes
• Settlors
• Settlors Notes
• Beneficiaries
• Beneficiary Details
• Beneficiary Notes
• Beneficial Owners
• Beneficial Owner Notes

Trustees

Key People
Number of Trustees	Free text. Insert integer (whole number)

Trustees	Multiple trustees can be recorded
Entity	Search for an existing entity in Xplan and the relative fields below  will be prepopulated (forname, surname & preferred name or Company name)
Surname	prepopulated
Forename	prepopulated
Preferred name	prepopulated
Company Name	Free text
Trustee Type	Individual, Company, Partnership
Date appointed as Trustee**	Select date from calendar or enter date as format dd/mm/yyyy Mandatory field
Power to Delegate	Yes, No, Blank (default)
Delegate Name	Free text (only displayed if above answer is Yes)
Signatory	Yes, No (default)
UK Resident	Yes, No, Blank (default)
Relationship with Settlor	Free text
Contact Details	Details will be prepopulated if the entity already exists in Xplan. Alternatively you can enter the details via this page.
Address Type
House Name/No
Postcode
Street Name
Street Name Extra
Town
County
Country
Contact Type (Phone)
Contact Detail (Phone)
Country Code
Contact Type (Email)
Contact Detail (Email)
+ Save and add more	Select to save the current entry and add more. Alternatively use the Save button, top right.

Settlors

Settlors	Multiple settlors can be recorded
Entity	Search for an existing entity in Xplan and the relative fields below will be prepopulated (forname, surname & preferred name or Company name).
Surname	prepopulated
Forename	prepopulated
Company Name	Free text
Preferred name	prepopulated
Date appointed	Select date from calendar or enter date as format dd/mm/yyyy. Mandatory field.
Percentage %	Insert figure, without % symbol.
Value Invested	Insert whole number, without monetary symbol.
House owned by (i)	Select entity from Xplan. Alternatively insert name in the free text field.

Is Settlor Alive	Yes, No, Blank (default)
Date of Death	Select date from calendar or enter date as format dd/mm/yyyy (only displayed if above answer is No)
Date of Probate	Select date from calendar or enter date as format dd/mm/yyyy (only displayed if above answer is No)
Key Details
Date of Birth	Select date from calendar or enter date as format dd/mm/yyyy
Marital Status	Single, Married/Civil Partnership, Cohabiting, Divorced/Ex-Civil Partner, Engaged, Separate, Widowed/Surviving Partner, Blank (default)
National Insurance Number	Free text or prepopulated
Tax Status	None/Nil. Savings, Basic, Higher, Additional
Tax District	Free text
Health Comment	Free text
Contact Details	Details will be prepopulated if the entity already exists in Xplan. Alternatively you can enter the details via this page.
Type
House Name/No
Postcode
Street Name
Street Name Extra
Town
County
Country
Contact Type (Phone)
Contact Detail (Phone)
Country Code
Contact Type (Email)
Contact Detail (Email)
+ Save and add more	Select to save the current entry and add more Alternatively use the Save button, top right

Beneficiaries

Beneficiaries
Beneficiaries identified by class membership	Yes, No, Blank (default)
Record details of class membership	Free text (only displayed if above answer is Yes)

Beneficiary Details	Multiple beneficiaries can be recorded
Entity	Search for an existing entity in Xplan and the relative fields below  will be prepopulated (forename, surname & preferred name or Company name)
Surname	prepopulated
Forename	prepopulated
Company Name	Free text
Preferred name	prepopulated
Ownership %	Insert figure, without % symbol.
Life Tenant	Yes, No, Blank (default)
Remainderman	Yes, No, Blank (default)
House owned by	Select entity from Xplan. Alternatively insert name in the free text field.

Financial Situation	Free text
Key Details
Date of Birth	Select date from calendar or enter date as format dd/mm/yyyy
Marital Status	Single, Married/Civil Partnership, Cohabiting, Divorced/Ex-Civil Partner, Engaged, Separate, Widowed/Surviving Partner, Blank (default)
National Insurance Number	Free text or prepopulated
Tax Status	None/Nil. Savings, Basic, Higher, Additional
Tax District	Free text
Health Comment	Free text
Contact Details	Details will be prepopulated if the entity already exists in Xplan. Alternatively you can enter the details via this page.
Address Type
House Name/No
Postcode
Street Name
Street Name Extra
Town
County
Country
Contact Type (Phone)
Contact Detail (Phone)
Country Code
Contact Type (Email)
Contact Detail (Email)

Professional Contacts
Accountant	Select entity from Xplan. Alternatively insert name in the free text field.

Solicitor

Select entity from Xplan. Alternatively insert name in the free text field.

 

+ Save and add more

Select to save the current entry and add more Alternatively use the Save button, top right

 

 

Beneficial Owners

Beneficial Owners
Entity	Search for an existing entity in Xplan and the relative fields below  will be prepopulated (forename, surname & preferred name or Company name)
Surname	prepopulated
Forename	prepopulated
Role	Free text
Ownership %	Insert figure, without % symbol.
Has beneficial ownership to	Capital, Income, Both, Blank (default)
+ Save and add more	Select to save the current entry and add more Alternatively use the Save button, top right

Cashflow

This page is compiled of 4 sections:

• Income
• Income notes
• Expenditure
• Expenditure notes

Income
Type
Sub-type
Description
Owner
Frequency
Amount
Link to employment
Last updated by
+ Save and add more
Income

Expenditure
Type
Sub-type
Description
Owner
Fixed/Variable
Frequency
Amount
Start date
End date
Tax type
Values last updated
Last updated by

Goals and objectives

This page is compiled of 3 sections:

• Goals
• Objectives
• Goals and objectives notes

Goals
Owner**	Defaults to Client.  Mandatory field.
Status	Fulfilled, Unfulfilled, Partially Fulfilled, Cancelled, Blank (default)
Priority	1 - 9, Blank (default)
Objective	Capital, Income, Non-financial, Accumulation, Blank (default)
Advice Type	Select from drop-down list. Estate Planning (default), General Insurance, Investment, Long Term Care, Medical Insurance, Protection, Retirement, Client Initiated, Mortgage
Category**	Select from drop-down list. Estate Planning, Mortgage, Protection, Saving and Investment, Retirement, Budgeting, Other, Blank (default).  Mandatory field.
Description	Free text
Target Date**	Date: Enter date in the format dd/mm/yyyy or select date from calendar icon. Term: Select the term required in moths or years from the clock icon. Mandatory field
Target Amount	Enter figure only, no currency symbol eg. 10000. Will default to 2 decimal places upon save eg. 10000.00
Capture Date**	Today’s date (default). Enter date in the format dd/mm/yyyy or select date from calendar icon.  Mandatory field
Target Timeframe Type	Select from drop-down list. ASAP, By Retirement, By Date, By Age, Blank (default)
Funding Type	Select from drop-down list. Education - funded by start date, Education - fund ver duration, Funded by start date, Fund over duration, Blank (default)
Regular Savings tab
Objectives tab
Link to Objectives
Comments tab
Comments	Free text
Risk Profile Reason	Free text

Objectives
Owner**	Client, Partner, Joint, Blank.  Defaults to Client.  Mandatory field.
Description	Free text
Status	Select from drop-down list. Open, Completed, Cancelled, Blank (default)
Time Frame	Enter the number of years and months
Target Amount	Enter figure only, no currency symbol eg. 10000. Will default to 2 decimal places upon save eg. 10000.00
Priority	Select from drop-down list. 1 - 9, Blank (default)
Advice Type	Select from drop-down list. Estate Planning (default), General Insurance, Investment, Long Term Care, Medical Insurance, Protection, Retirement, Client Initiated, Mortgage
Category	Select from drop-down list. Estate Planning, Mortgage, Protection, Saving and Investment, Retirement, Budgeting, Other, Blank (default).  Mandatory field.
Capture Date**	Today’s date (default). Enter date in the format dd/mm/yyyy or select date from calendar icon.  Mandatory field
Target Age	Enter figure eg. 99
Goals tab
Link to Goals	Select an existing goal from the drop-down list and click the + icon to list all linked goals.
Cases tab
Link to Cases	Select an existing case from the drop-down list and click the + icon to list all linked cases.
Financial Records tab
Link to Financial Records	Select an existing policy from the drop-down list and click the + icon to list all linked policies.

Tax and Other Information

This page is compiled of 2 sections:

• Tax and Other Information
• Notes

Tax and Other Information
Trust’s Tax District	Select country from drop-down
Tax Reference	Free text
Country of Establishment	Free text
Tax Returns Completed by	Search for entity (Professional Adviser)  or enter name the field below
Accounts Completed by	Search for entity (Professional Adviser) or enter name the field below
10 Year Anniversary Date	Select date from calendar or enter date as format dd/mm/yyyy
Has any income/capital been paid to the beneficiaries?	Yes, No, Blank (default)
Is Capital Gains Tax a constraint?	Yes, No, Blank (default)
Vesting Date?	Select date from calendar or enter date as format dd/mm/yyyy
Protector?	Yes, No, Blank (default)
1982 Value Election?	Yes, No, Blank (default)

Assets and Liabilities

This page is compiled of 4 sections:

• Assets
• Asset Notes
• Liability
• Liability Notes

Assets
Type	Select from drop-down list.
Platform	Yes, No, Blank (default)
Platform Provider	Select from drop-down list.  This field is only displayed is the answer to Platform is Yes.
Sub-Type**	Select from drop-down list.  Mandatory field.
Pension Wrapper	Default is No. Automatically updates to Yes if asset is linked to a pension wrapper.
Platform Wrap	Default is No. Automatically updates to Yes if asset is linked to a platform wrap.
Long Term Care	Yes, No (default), Blank (default)
Current Value	Enter figure, no currency symbol.  Will be pre-populated by a portfolio account managed manually or via a datafeed.
Recommended Value	Enter recommended figure, no currency symbol.   Useful for certain assets that are not valued regularly or automatically, eg. residential or commercial property, antiques.
+ Save and add more

There are further fields and tabs on this page, not covered in this document, as they are self-explanatory.

Asset Notes
Asset Notes	Free text

Liabilities
Type	Select from drop-down list.
Sub-Type	Select from drop-down list.
Related to Equity Release?	Yes, No, Blank (default)
Pension Wrapper	Default is No. Automatically updates to Yes if asset is linked to a pension wrapper.
Package/Product Name	Free text
Policy Number	Free text
Outstanding Balance**	Enter figure, no currency symbol.  Mandatory field.
Is this debt to be repaid before the mortgage advance?	Yes, No, Blank (default)
Offshore Liability	Yes, No, Blank (default)
Long Term Care	Yes, No (default), Blank (default)
Under Advice	Yes, No, Blank (default)
+ Save and add more

There are further fields and tabs on this page, not covered in this document, as they are self-explanatory.

Liability Notes
Liability Notes	Free text

Professional contacts and advisers

This page is compiled of 2 sections:

• Other Professionals and Advisers
• Notes

Add Professional Adviser
Professional Adviser	Search for existing professional adviser or select ‘Create New’
Adviser Type	Prepopulated from drop-down list:
Professional Adviser Information
Title	Prepopulated
Forename	Prepopulated
Last Name	Prepopulated
Company	Prepopulated
Position	Prepopulated
Website	Prepopulated
First Point of Contact	Prepopulated
Contact Information
Phone	Prepopulated
Email	Prepopulated
Address	Prepopulated

Create New option:

Professional Contacts Notes
Professional Contacts Notes	Free text

Print fact find

Generate Report or Generate Report + Doc Note.

  

• Generate Report - prints a populated report in Word format
• Generate Report + Doc Note - prints a  populated report in Word format and uploads a copy to client document notes allowing you to select the following fields:
  •  Subject
  • Note type
  • Note Subtype
  • Add Note To…

Once generated, your notification icon on the title bar will display a number indicating unread generated documents. You can download the fact find here.

Where the fact find is saved automatically as an attachment to a document note, it can be accessed via Notes, Servicing > Report Generation > Notes or Client Hub > Activity > Notes

REPORT OUTPUT

Printed fact find

The populated fact find generates a portrait format Word document.

• The tables contain all the data recorded in Xplan
• Logo on front cover

Front cover

Logo	Your firm’s logo. Stored in User Group > Theme.  The logo, by default, will be the one recorded in Xplan and also used in the Letter Generator.
Title	Trust Fact Find
Privacy	Private and Confidential
Company Name	Entity name
Date Completed	The date entered on the Factfind Overview page or today’s date
Adviser	The Client’s Adviser
Page number	Page number 1

Key Details

Contact Information

Key People

Cashflow

Goals and Objectives

Tax and Other Information

Assets and Liabilities

Professional Contacts and Advisers

Troubleshooting / FAQs

• How do I print a populated fact find?

Click on Generate Report or Generate report + Doc Note

Your document will generate in the background and a notification will display in the bell icon for you to download.

 

• How do I update trust details?

Trust details can be updated via the fact find wizard or from other modules of Xplan:

• CRM (Client details)
• Financial Details
• Portfolios

Each page has a free text Notes field for recording soft facts which are stored in the fact find wizard and not duplicated in other modules.

Once you have finished editing the data, you can select Save and Exit, this will ensure all the information is saved in the fact find wizard and the corresponding areas within your client’s record. The other modules, where applicable, are synchronised once saved.

PDF trust fact find attached.