Tracking Client Progress

Great question martin.joughin  and something I have been grapling with. I would love to see Xplan provide an overlay of the original projection in charts with an up dated projection to easily visualise and track to see if the client is on target to meet their retirement goal and provide an updated visual to understand the longevity of funds. 

When martin.joughin poses a question like this, does anyone from Xplan review these answers and provide feedback? primrose.foster 

In addition to the option siran.taylor has covered off there are a number of ways to track clients progress.

Within Portfolios, provided you have completed portfolio progress with targets, you could use progress charts and tailoring the report options to your needs.  For example, you could use the Portfolio Progress chart. With the following settings:

This would allow you to display the client's progress year on year against a goal value.

Transaction reports can be used in conjunction with the progress charts to show all the ins and outs and give you a comprehensive view.

You can, link existing, or create new goals from within portfolios, this enables value from the client's portfolio to be allocated to the applicable goal.  For more detail refer to the Iress Community (Help-Guide-Xplan)

We would be interested in your feedback on the Lifestyle Goals, when used in Review Mode.  This tool allows you to compare a previous projection (at least 9 months old) to the client's current position. On the key charts, you will now have two Net Assets projection lines, the original projection in red, and the new updated projection in blue. For the current projection, years up to the current year will show the actual net assets position for each year based on inputs made each year, and future years will show the outcome of the new projection. For more detail refer to the Iress Community (Help-Guide-Xplan/XTOOL-Lifestyle-Goals)

If the above options are not giving you the solution you are looking for, we are keen to hear your requirements and desired outcome. (edited) 

A really great question to table to the network martin.joughin

Having a think about it, one of the most automated ways you could do this would be prepare a merge template similar to your Review Pack with all the components required for the report and then you could use Scheduler to automatically email out the report to the client. 

Things to consider:

• preparing an advanced search to idenfity the client list
• ensure that the datafeed reconciliantion errors are checked and addressed frequently
• in addition to the content in your current Review Pack you can add the coding for the Goals.  You can use Xword to acquire the code for the Goals.

I am wondering if jessica.lamb would have any other suggestions?

That's a great question martin.joughin and I'm looking forward to reading the responses. We work mainly with retirees and one thing I do is to compare the projections made say 10 years ago (say at retirement) with their current situation. It's quite big picture but the conversation and insights it generates are quite rich. Delving into more detail re progress, on an automatic basis, would be beneficial and I'm sure enhance the client relationship.

Great question martin.joughin and something we wish could be automated from xplan. We have what we call an "ins and outs" table for all our discussion documents (reviews) but it is manual from the last time it was updated (usually within the last 9-12months) it provides great impact to clients who have been living off their investments for years to show what they have pulled out, but yet what their balances are. The other visual we have is a traffic light report that shows what has been achieved over time - goal, date, etc. which again is well received. Finally with projections we show the difference between the last lot of projections, what has changed eg. income, asset value etc. and what the assumptions are going forward.
I'd love to be able to automate these and welcome any suggestions.

Thanks so much martin.joughin for sharing this question. I look forward to hearing any insights the community may be able to share on this topic, and I will have an ask internally too! 

Exactly what I’m after too!