How to log your Wealth opportunities in Y.Net

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1 How to log your Wealth opportunities in Y.Net This guide will assist and show you step by step, how to log your wealth opportunities in Y.Net There are 3 opportunities which relate to Wealth: Financial Planning (FP) this tracks the advice and SOA you have prepared and will provide to your client. Insurance (Life) (I) this tracks any insurance business you have recommended and lodge on behalf of your client. YBR Loan Protect calculate premiums, apply online and submit. The Financial Planning opportunity and completed YBR Loan Protect policies will be counted towards the calculation of your Wealth Management Activity Ratio (WMAR). Client Referrals For the purposes of calculating the WMAR, client referrals which result in an SOA (to a head office planner or another branch) are counted towards the wealth ratio of the referring branch. Referring adviser: Share the opportunity via Y.Net The referring branch must be clearly indicated within the FP opportunity in the Internal Reference field. Statement of Advice (SOA) You are required to load your client s SOA within the relevant FP opportunity to verify that an SOA has been presented to your client. FP opportunities which are not able to be verified will not be counted towards your WMAR. If you require assistance please contact your State Manager, Advice Coach or the Wealth team for more information. 1 P a g e

2 The What and Why s? Update Y.Net regularly Your WMAR will be measured quarterly and reflect the information that you have entered into Y.Net. Updating Y.Net regularly will let you to check if you are on track to meeting your wealth activity ratio for the period. Use the Financial Planning Opportunity for all SOA s What we track here is your SOA activity. Even if it s an insurance only recommendation, you will be required to log a FP in addition to your insurance opportunity. For example: You have met with Mr and Mrs Client and they have agreed for you to provide advice on their life insurance and implement recommendations: Enter a FP opportunity to track the SOA Enter an I opportunity to track the insurance policy Upload the SOA to the opportunity Use the following transaction naming convention for your FP opportunity FP opportunities which can t be verified do not count towards your WMAR. Following on from the example above: Surname; First Name; Type of transaction Client, John and Jane Risk SOA Ensure that you update the current status for each opportunity This is an important tool for your business, allowing you to track each stage of your client s progress from lead through to completion. You must update key statuses in Y.Net before it will allow you to continue on to other statuses: 1. Plan being prepared 2. Plan presentation meeting completed 3. Implementation in progress Ensure client referrals are clearly indicated Wealth activity generated from client referrals will count towards the referring branch. Referrer: Share the opportunity via Y.Net Update the Internal Reference field with the referral branch Ensure that you enter an invoice or policy in force date Opportunities which do not have a date are not visible in yours or our reporting. If the transaction is in progress or you are not sure when it will be confirmed, enter an estimated forward date. Only confirm opportunities when. For Insurance policies are in force For SOAs your client has signed the authority to proceed (ATP) and agreed for you to implement the recommendations. 2 P a g e

3 The How s 1. How to add a financial planning opportunity to an existing client Y.Net Select the client Step by step instruction Under the CRM tab, enter the name of the client in the search box and click the search icon Double click to select the correct client Create the opportunity Click on the Opportunity tab on the left tool bar. 3 P a g e

4 Click on the New button to create a new opportunity. Select the opportunity From the drop down menu, select Financial Planning 4 P a g e

5 Complete the opportunity details You will now need to complete the details relating to the FP opportunity, specifically relating to the advice (SOA) you will most likely provide to the client. Enter the: o Transaction name surname, first name, type of SOA. o Adviser adviser who the client belongs to. o Admin person who will be assisting. o SOA fee and ongoing fee amounts if applicable. o Current status this is important and tracks what stage in the advice process your client is at. o Lead source. o Invoice date each opportunity MUST have an invoice date to be visible for reporting. o Plan prepared by you will be required to select how/who prepared the SOA. This function is currently under development however will form a required field in the future. 5 P a g e

6 Share the opportunity if you are referring to another branch Where you are the referrer, sharing the client opportunity in Y.Net tracks the request in the client record and also send an to the receiving adviser Enter the referring branch in the Internal Reference Field You then need to Share with the opportunity, click the handshake icon.. Select your referral partner from the list Click choose.. 6 P a g e

7 You will now be able to send the referral via to your preferred adviser Remember to send and save. This will be recorded as a note in the opportunity. Once the request has been sent and you have saved the opportunity, the receiver will be able to view the same opportunity in their own CRM. This means that both the referring and receiving branch will be able to update and view the same opportunity file. Both the referring and receiving branch will be able to view, update and upload information and documents relating to this specific opportunity. How to access the opportunity if you receive a referral from another branch.. Wealth activity which originates from a referring branch belongs to the referring branch. The receiving branch will now have access to the opportunity in their YNet. You can only search for the client opportunity: o click your CRM tab button and select Financial Planning under Opportunity type o ensure you are searching in All Statuses o enter the client/opportunity name and search 7 P a g e

8 Update the status of the opportunity Both the referring and receiving branch will be able to view, update and upload information and documents relating to this specific opportunity. Note that this function will only allow you to view a specific opportunity related to a client, you will not be able to search for the client directly. This function will enable you to share any type of opportunity with other branches. Statuses and the corresponding invoice date: o Each opportunity will allow you to update its current status o Each status has been conditioned to follow the customer journey o There are 3 key statuses - 1. Plan being prepared where the client and adviser have committed to producing an SOA. 2. Plan presentation meeting completed where the adviser has presented the SOA and the recommendations to the client. 3. Implementation in progress when the client has agreed to proceed with the advice and has signed the authority to proceed (ATP). o o The status you select will determine which statuses are available to you next. You will only be able to continue through to next available status once each key status has been selected. You will need to select Plan Being Prepared before more statuses are available. 8 P a g e

9 o Click Change Status to update. 9 P a g e

10 Enter an invoice date and tick confirmed when the authority to proceed has been signed Update the invoice date to reflect the date that corresponds to the status. Where you are unsure of the exact date, enter the date that you expect the status to be completed. If you do not enter an invoice date, the opportunity will not be visible in any reporting. Tick confirmed only when your client has signed the authority to proceed. Attach the SOA to the opportunity Select Attachments on the left hand tool bar in the opportunity. There are 3 ways to upload documents to Y.Net: o o o drag and drop directly into the opportunity (Mercury 5 only) upload file from your computer via the outlook mercury plugin - complete instructions on how to download this to your Outlook are available here P a g e

11 The document is now attached to the opportunity. Save and exit Save and exit to update the opportunity This FP opportunity will now sit under the client. 11 P a g e

12 2. How to add an insurance (life) opportunity to an existing client Y.Net Select the opportunity Step by step instruction Follow the same steps above and however select Insurance (Life) from the drop down menu. Complete the opportunity details You will now need to complete the details relating to the Insurance opportunity. Create a separate opportunity for each client so that you are able to accurately track each client and their policies. Enter the o Transaction name surname, first name, type policies. o Adviser adviser who the client belongs to. o Admin person who will be assisting. o Insurer o Current status this is important and tracks what stage in the application process your client is at. o Lead source. o Policy in force date each opportunity MUST have a policy in force date to be visible for reporting. o Policy details sum insured and annual premium amount o Commission details (Note that there will be field differences in the Insurance (Life) opportunity screen between Mercury 4 and Mercury 5. Mercury 5 has been used in this guide to show the updated fields however both can be used.) Ensure that you update each status accordingly taking note of key statuses. Tick confirmed only when you receive confirmation from the insurer that your client s insurance application has been accepted and is in force. 12 P a g e

13 Attach any corresponding documents Upload any quotes, client statements etc to the opportunity for future reference. Save and exit Save and exit to update the opportunity. This Insurance (Life) opportunity will now sit under the client. 13 P a g e

14 3. How to do a YBR Loan Protect Application via Y.Net/Mercury This reference guide explains the process for launching a Loan Protect application via Y.net, calculating premiums, through to submitting the application. How to launch a Loan Protect application from Y.net Open an 'Opportunity' in Y.net/Mercury Select 'Start Loan Protect Application' Online application launches Verify customer details pre-populated from Y.net/Mercury, calculate & submit 14 P a g e

15 Y.net Open an Opportunity Step by step instruction Search for OR click on Show recent opportunities to open an opportunity Select Start Loan Protect Application The opportunity selected will display...click Start Loan Protect Application to launch a pre-populated online application If you have more than two applicants you will be asked to select the applicants who wish to apply for Loan Protect. Tick the applicants who wish to have a premium estimate/ policy. 15 P a g e

16 Online application window launches The online application will launch in a separate window. You will still be able to access Y.net/Mercury by clicking back to the Y.net/Mercury tab. Customer Information The customer information screen will display, this will be pre-populated from Y.Net/Mercury as long as the details have been entered into Y.Net/Mercury. Verify the customer information that has pre-populated from Y.Net/Mercury. If required, make any necessary changes. Confirm the customers: 1. Smoking status, and 2. Australia/NZ citizen OR permanent residency status Then click calculate premium. You can select monthly and annual premium payments at your customers request by clicking on the drop down and selecting monthly or annual. 16 P a g e

17 Customer Information Continued The PDS and Policy Document can be downloaded by clicking on the links on the top left hand-side of each page. The call centre details and address are located on the right-hand side of each page. Second Applicant You can add an additional policy holder by selecting Joint and entering in the application details under Person two. 17 P a g e

18 Calculation of premiums & benefit amounts This screen will display the calculation of premiums based on the loan amount, customer s age, gender and smoking status. The benefit amounts will be displayed for; 1. Death & Terminal illness 2. Critical illness 3. Involuntary unemployment Adjust premiums You can adjust the premium at your customers request by selecting one of the two product flexibility options OPTION ONE: Calculate premiums based on a reduced sum insured Select the sum insured option from the drop down menu next to the product flexibility option, then enter the reduced sum insured amount into the free text box below and click calculate premium. 18 P a g e

19 Adjust premiums Continued OPTION TWO: Calculate premiums based on a monthly amount the customer can afford Select the premium option from the drop down menu next to the product flexibility option, then enter the $ amount into the free text box below and click calculate premium. Customer/s accepts or declines the offer Once your customer is happy with either the original premium/sum insured or recalculated premium/sum insured, you can proceed by clicking Protect Now. If you wish to a quote to your customer, you can do so by clicking on the quote button If your customer is not interested in the offer, click not interested and you and your customer will receive an confirming the Loan Protect discussion has taken place but your customer has decided not proceed at this stage, however should they wish to reconsider they are directed to contact their Wealth Manager. Remember your customer can take our Loan Protect up to 12 months from settlement. 19 P a g e

20 Customer Declaration Ensure your customer/s agree to the declaration and then click I acknowledge & consent to proceed. Payment Details Select the relevant payment method for the customer by clicking the radio button Direct Debit or Credit Card Enter the payment details into the fields provided, than ask the customer to click the I authorise radio button prior to clicking Protect Now to put the cover/policy in place. 20 P a g e

21 Application submitted The customer/s application has been submitted The customer/s and Wealth Manager will receive an confirmation from Vow to confirm the application submission and that cover is now in place. The customer will also receive confirmation via post within 5 business days. Health Questionnaire The customer has the option to answer a health questionnaire to understand with absolute certainty as to what they are and are not covered for. The customer will be notified to complete the health questionnaire in three ways; 1. Application submission - access the questionnaire via the hyperlink in the 2. Welcome Pack - Call Loan Protect on to complete the questionnaire via phone 3. Text message a reminder text will be sent on the 25 th day after application submission. The customer will only have 30 days to complete the health questionnaire before the option is no longer available. End Guide V P a g e