AMA: I'm Katrina Yung, Xplan WealthSolver expert, Ask Me Anything!

Hi Katrina, thank you for taking the time to run us through Wealth Solver.

I have a couple of queries that I'd appreciate your guidance and expertise on:

Copying customised Portfolios into a Like for Like scenario.

• when we look at new platforms for clients, we sometimes need to customise the underlying portfolio beyond the target set functionality, which we normally use.
• given the customisation, we need to make manual adjustments, where we may start with a target set but may alter some of the weightings for various reasons.
• is there any possible way to ditto a customised portfolio that you build within one WealthSolver 'Recommend and Acquire' scenario across to another Platform (say a 'Like for Like' scenario) without having to do the same manual customisation all over again?
• of course, it's a given that both platforms need to house the same underlying holdings.
• this was an excellent little feature that was offered on the old COIN CRM technology and would love to see something similar in Xplan.
  
  

Modelling External assets like ASX shares and including in-specie functionality

• this question is an extension to the above scenario as we run into the same issue when modelling external assets like a client's direct share portfolio for reinvestment/super contributions but ned to space across multiples years for tax management purposes.
  • for example, a client may hold 20 ASX shares (either issuer sponsored or via Commsec/Ausiex etc).
  • these shares may have been held for a long period of time with major tax consequences if they are sold short term. 
  • as such, selling all and transferring into a platform/super for reinvestment may not be ideal short term.
  •  therefore, we may look to transfer all across to an IDPS platform in upfront (no CGT by doing this), then either incrementally selldown and reinvest/make NCCs to super over 3-4 financial years to minimise the tax impact.
• this all requires some complex modelling on Wealthsolver. As far as I can see, the shares upon rebalance need to be manually input each scenario (including proposed and like for like), which takes a lot of time.
• there also doesn't seem to be an 'in-specie' option for the existing shares to be retained, which would be handy so existing shares can automatically appear in the proposed IDPS/super platform we are recommending and not having to do another manual input of 20 entries of stock.
• as in my first query, being able to build a repeatable modelling scenario which can be ported across different platforms for like for like purposes, would be a very efficient and time saving tool.
• of course, there may be a solution already in place, so if you can point me in that direction, that would be appreciated.

We currently don't use WealthSolver for modelling existing portfolio changes and use IPS for this, however when looking into if we were to do this in WealthSolver the interface doesn't appear to work well for modelling - i.e. you have to switch screens to see changes to the asset allocation. Is this something that can be worked on to better allow for modelling? Or is there a way to do this currently?

Hi again,

Is there a way you can refresh a live  WealthSolver scenario to reflect a clients change of assets or super fund balance data feed from Client Focus (manual updates) / IPS (auto market feeds) since the initial scenario was made? It seems there is no way to update a client's position without having to start a brand new WS scenario from scratch. If there was a button within the specific WS scenario to update a client's changes, that would be super helpful.

I know this session is all things WealthSolver but the same issue applies in Risk Researcher and can be far worse given how complex the Needs Analysis tool can be and the challenges having to rebuild that from scratch (a ditto tool in this regard per my earlier question would also be useful).

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