NEW INVESTMENT USER GUIDE

Transcription

1 NEW INVESTMENT USER GUIDE

2 CONTENTS 1. SELECT NEW OR EXISTING CLIENT... 2 NEW CLIENT EXISTING CLIENT... 5 SELECTING AN EXISTING CASE... 6 REVIEW SELECTION... 6 CREATE NEW ANALYSIS NEW INVESTMENT... 8 NEW INVESTMENT DETAILS ALLOCATION OPTIONS... 9 ASSET ALLOCATION... 9 REMUNERATION PRODUCT FEATURES NEW INVESTMENT OPTIONS SPECIFY INVESTMENTS FUNDS RESEARCH DEFINED TEMPLATES DFM STRATEGIES AUTO ALLOCATION ALTERNATIVE PRODUCTS ASSET ALLOCATION RESULTS RESULTS SUMMARY COMPARISON RESULTS TAXATION DETAILS REMUNERATION DETAILS BESPOKING OPTIONS RECOMMENDATIONS & PRINT OPTIONS PRINT OPTIONS New Investment User Guide Investment Switching

3 1. SELECT NEW OR EXISTING CLIENT Welcome Upon initially logging into Selectapension, a user will arrive at our Welcome page. This page offers three options; create a New Client, access an Existing Client and Fund Research. This screen also provides details of which tools are available to the individual subscription. Selecting a New Client will enable the creation of a file containing a client s basic details. These details will be stored on the system and can be accessed when using any of the Selectapension tools. The Existing Client option will bring up a library of stored clients. The client details can be viewed by clicking on the client name. From this point a user can choose to View Stored Analyses or Create New Analysis for a client. Selecting Fund Research will launch our fund filtering search tool. To learn more about how to use this tool, please see the Funds Functionality User guide. The current stage of workflow is denoted by the underlined title. Navigation through the workflow is controlled by Next and Back buttons. Input will be sense checked to ensure validity of the data before the process will continue. For example, if one of the mandatory fields is left blank, (mandatory fields are shown in yellow), the user will be unable to move to the next stage until that field has been completed. 2. New Investment User Guide Investment Switching

4 NEW CLIENT The first step to creating an analysis is creating a customer file by inputting the client data as explained below. Yellow boxes are mandatory and must be completed before moving forward. FIELD Ref: Title: Forename: Middle Initials: Surname: DESCRIPTION Insert your own reference if desired Select an option from the dropdown list. Please note that the system will validate the choice of title against the choice of Sex Enter the client s forename if required here Enter the client s middle initials if applicable Enter the client s surname 3. New Investment User Guide Investment Switching

5 Sex Select the sex of the client from the drop down list Date of Birth: Employment status: Marital Status: Partner s D.O.B: Partner s name: Any Dependents: Attitude to Risk: Lifetime Limit Protection: Health Status: Notes: Enter the client s date of birth in dd/mm/yyyy format. This can either be entered manually or selected from the calendar Select from the drop down list Select from the drop down list Enter partner s date of birth if relevant in dd/mm/yyyy format. This can either be entered manually or selected from the calendar Enter the partner s name Select Yes or No If Yes is selected, additional notes can be added to include details of dependents Select from the dropdown list* If other is selected from the list, a free text box will become available *Categories from your dropdown list are initially created Personal Settings. Please see the Asset Reviewer Personal Settings User Guide for more details Select from the dropdown list and enter the Lifetime Limit applicable Select from the dropdown list Any additional notes may be added and will be detailed within the report 4. New Investment User Guide Investment Switching

6 EXISTING CLIENT Select the existing client that you wish to work with by clicking the client s name. For large client libraries the user can recall a client using the search function or by clicking on a column header to sort by column. Once the client details have been recalled the user can then complete a multitude of tasks. Delete Client removes all the information created for that particular client. Update Client Details enables editing of client information at any time. View Stored Analyses allows access to previous cases carried out for this particular client. Create New Analysis allows the user to create a new analysis type for a client. 5. New Investment User Guide Investment Switching

7 SELECTING AN EXISTING CASE Click on the case to view or edit previously entered information. Alternatively, click on Create New Analysis to start a brand new case. REVIEW SELECTION Select New Review from the dropdown list to run a review. A name and a description can be applied to the review. Select the cases to be included in the review using the tick boxes available. The type of analysis can be selected, Current, Remodel or New. Once a selection has been made, continue to Save & Print Review to run the report. Exit Review Mode cancels the review process 6. New Investment User Guide Investment Switching

8 CREATE NEW ANALYSIS Click on Create New Analysis to select an analysis suite. Select Investments to access Investment Switching. Select the analyis type to be completed. Select New Investment Comparison. This option allows input of any new monies being considered for use in fund related investments, taking into account the client s Attitude to Risk (ATR) and target asset allocation if desired. 7. New Investment User Guide Investment Switching

9 2. NEW INVESTMENT NEW INVESTMENT DETAILS Using the information provided below, complete all relevant white fields and all mandatory fields in yellow. Field Calculation Date Term of Investment Include Estimated Taxation Add Contribution Add Income Fund Value Description Typically today s date or the date that the investment will commence. This can either be entered manually or selected from the calendar Until: Choose the end date for the investment in dd/mm/yyyy format Years: Duration in years and months Age: Enter the age at which the investment will mature Select Yes or No Selecting Yes will allow you to enter the client s tax band from the dropdown list Select this option to add a single of regular contribution, frequency and the amount. Indexation can be applied to a regular contribution Select this option for a specific or regular withdrawal. The amount and frequency can be specified as well as indexation Enter the value of the existing investment Delete Case deletes the current open case. Use the Next and Back buttons to navigate accordingly. 8. New Investment User Guide Investment Switching

10 3. ALLOCATION OPTIONS ASSET ALLOCATION To match the client s investment to a target asset allocation, Yes must be selected at this stage. The client s target asset allocation can then be selected from the Available Assets or the Allocation Templates previously created in personal settings. Allocation Templates These are created within the Personal Settings*. These templates are a collection of asset classes and can be linked to a risk category. The Allocation Template denoted with the asterisk is the template that matches the clients attitude to risk chosen for the client within client details. Any template can be chosen from this selection. Allocation Templates can be edited and saved as a New Template. Available Assets This option will list the asset classes available. Asset classes can be managed and grouped in Personal Settings*. If Unlink Template is shown, editing will not be enabled on the template. Should a user wish to edit a chosen template for a particular case, click Unlink Template. *Please see the Asset Reviewer Personal Settings User Guide for further information. PRODUCT SELECTION 9. New Investment User Guide Investment Switching

11 REMUNERATION Remuneration to be applied Select No if remuneration is not to be taken. Select Yes to add remuneration. Field Single Premium Regular Premium Level Regular Premium Initial Fund Based Advance Fee Styles Description Enter an initial percentage and/or monetary amount Enter the fee percentage to be taken of each regular premium Enter the initial percentage to be taken of of the 1 st year s premiums. A monetary value will be treated as an initial fee Enter the Fund Based fee to be taken as a percentage and/or monetary amount of single and regular premiums Allows the user to be more specific about how the remuneration will be charged and the timing of the payment 10. New Investment User Guide Investment Switching

12 PRODUCT FEATURES If there is a requirement for a plan to have specific features, they may be selected from the options shown. Choose from Mandatory or Optional. Mandatory If Mandatory features are selected, products that do not offer that feature will be excluded from the analysis. Optional Selecting Optional features will not exclude products from the analysis, but will report if that feature is available. You can view which plans are available with the selected features by clicking on the Products Available: button to the right of You can also save selected features as a template for future use by ticking the box Save as new template and giving the template a reference/name. 11. New Investment User Guide Investment Switching

13 4. NEW INVESTMENT OPTIONS SPECIFY INVESTMENTS Funds and/or Sectors can be selected by clicking on the Specify Investments button. The system will then filter out products which do not support the funds/sectors selected. SECTORS: To select sectors, click on the Sectors button and click on one of the Sector Groups. This will bring up a list of sectors within that group in the box below. Click on the sector required and it will appear in the opposite box under the heading Selected Assets. Funds can be added as well as sectors by clicking on the Funds button. The total must add up to 100% before the user can move forward. 12. New Investment User Guide Investment Switching

14 The sector selection can be saved as a Fund Sector Template for repeated use with other cases/clients by clicking the Save as New Template tick box below and entering a template name. Clicking Product Comparison to go to the next screen will save the template for future use. The actual fund used for a given sector can be based on a selected criteria: Past Performance (Previous 12 Months), Fund Size (Total Net Assets) or Lowest Annual Charge (when two or more funds have the same charge, the second level filter of either Performance or Size will be used). The Lowest Annual Charge option is ticked as default but can be deselected if the cheapest fund is not desired. Include Own Selections (from Personal Settings) can also be selected- within Personal Settings, sector defaults can be set. This allows the user to choose the specific fund to be used within a certain plan when that sector is chosen. To set these up, go into Personal Settings then click Funds. Within funds, select Sector Defaults. Once the Pension Provider, Pension Plan and Sector have been selected the available funds will be listed. Simply select the fund(s) required and click save. Ticking Include Own Selections (from Personal Settings) on this page pulls through these settings. FUNDS: To choose specific funds, click the Funds button. The underlying fund provider can be selected from the drop down list. Funds can also be filtered by Fund Name and ISIN numbers. The resulting list of funds returned can also be sorted by fund name; performance; fund size and ISIN. Funds can be shown on Primary Funds Only, which shows just the primary fund for each share class available. 13. New Investment User Guide Investment Switching

15 If a product offers more than one share class for a particular fund, the system will choose the cheapest share class. If there are two share classes with the same charge, it will choose the first share class alphabetically. The share class chosen with a particular product can be changed on the Alternative Products page by clicking on the pencil next to the plan name. Alternatively, by switching the Primary Funds option to Off, all share classes will be shown The user can then select the fund required, which will appear in the opposite box under the heading Selected Assets, and build up the fund splits required. As with the sector option, the total must add up to 100% before the user can continue. The user may move to the Sector option if a mixture of funds & sectors are required. The availability of underlying funds which can be selected is limited by the information received from Morningstar and other fund information received via direct feeds. Click on the Show X-Ray button to bring through the Morning Star X-Ray for the portfolio of funds chosen. 14. New Investment User Guide Investment Switching

16 FUNDS RESEARCH The research of funds is possible within a case by clicking on the Fund Research button. Fund choice can be narrowed down by using the filters available. The option to filter and search can be performed with Primary Funds On or Off. 15. New Investment User Guide Investment Switching

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18 Field Provider: Filter: Sector: Share Class: Performance: Size: Total Expense Ratio: Attributes: Morning Star Rating: Morningstar OBSR Analyst Rating: Risk Rating: Description Select a provider from the dropdown list. Alternatively set to All for a whole of market search Select Name or ISIN to search for a specific fund Select a specific Sector from the dropdown list Select Clean to search for clean share classes only. Alternatively, select All to search all share classes Selecting a performance option will return funds with the corresponding performance available. For example, selecting 5 years will show all funds with at least 5 years performance available, (therefore includes all funds with 5 years or more). When you return to the fund picker screen, funds will automatically rank by the best performing Multiple selections can be chosen to select total assets under management globally. If assets of up to 1billion are required then the first three options should be selected Defined from the Key Investor Information Documents (KIID). This includes AMC and any other management charges but will not reflect any Provider Specific Rebates and Discounts. Use the sliding scale to filter by range Select Attributes to base the search on a particular fund characteristic i.e. Ethical Funds, Tracker Funds The Morningstar Rating is a backward-looking, quantitative, riskadjusted measure of a fund s performance versus its peer group A Morningstar Analyst Rating for funds is the summary expression of Morningstar s forward-looking analysis of a fund i.e. a gold rating indicates that Morningstar analysts have a high expectation of the fund beating the relevant performance benchmark Search criteria can be based on Morningstar s 3 year standard deviation. This measures how much the total returns of a fund have fluctuated in the past When the total number of funds has been narrowed to 500 or less, click Search. This will return the funds to the fund picker screen within your case. 17. New Investment User Guide Investment Switching

19 DEFINED TEMPLATES The Defined Templates button allows the user to retrieve, create and edit Fund/Sector and Plan Templates. Further information on Defined Templates can be found in the Funds Functionality User Guide. 18. New Investment User Guide Investment Switching

20 DFM STRATEGIES DFM Strategies can either be selected from the list of available DFMs by expanding the relevant company and clicking on the DFM, alternatively if a DFM is required which is not already on our system, please support@selectapension with details of the DFM required. Clicking on View Document allows the user to view a PDF factsheet about the selected DFM strategy. Selecting a DFM will use the relevant charge against all plans available with that DFM, which can be seen when clicking on the plan name on the results summary screen as well as in the full report. 19. New Investment User Guide Investment Switching

21 AUTO ALLOCATION Auto Allocation allows funds/fund panels to be selected. The tool will choose the optimum combination to match the target asset allocation. If a particular fund(s) is required, it can be fixed and a minimum and maximum % amount can be entered. FUNDS Specific funds can be selected as described on page 24 of this user guide. A minimum or maximum percentage can be entered by using the relevant options. This will guarantee the specified fund appearing in the results. All funds listed can be fixed by clicking on the Fix All button. 20. New Investment User Guide Investment Switching

22 FUND PANELS Fund Panels, created within Personal Settings, can be selected within a case at this point. The tool will choose the optimum combination of funds from the panel created and selected to match the target asset allocation. To guarantee the use of a specific fund for the investment, you can use the Fixed tick box. A percentage can be entered to specify the level of investment in the fund. Click on Product Comparison to move forward on the case. 21. New Investment User Guide Investment Switching

23 ALTERNATIVE PRODUCTS The plan types will all be selected by default. Should a user wish to restrict the plan type then these can be manually de-selected. Growth Rates for Analysis Enter the desired growth rates required for the analysis. Selecting Providers - Providers may be selected individually or a user can Select all providers. 22. New Investment User Guide Investment Switching

24 Select your new plan by ticking the relevant Select option box. Existing Plan - Some provider s charges may be subject to a large fund discount. Where a proposed plan is identified as an Existing Plan, the effect of the total fund may reduce the charge applied to the proposed new investment. In these circumstances there may also be a setup fee that is waived. The system will take an Existing Plan into consideration and reflect the charges accordingly. Panel Funds When Target Asset Allocation has been selected for the new investment, the system will display the amount of funds available from the selected Fund Panel against each product. The funds that can be used by the selected products will be listed as shown below. 23. New Investment User Guide Investment Switching

25 ASSET ALLOCATION RESULTS The chart below shows an overview of the client s target allocation against the new allocation 24. New Investment User Guide Investment Switching

26 Target v New - This is the New allocation. The charts show the closest match available to the target asset allocation using the funds that were previously selected. The illustration below also shows the actual funds that have been selected for the new investment and the ratio applied. To run the comparison results click on Next. 25. New Investment User Guide Investment Switching

27 5. RESULTS SUMMARY COMPARISON RESULTS When the analysis has run, a list will display all the products selected for comparison. Results are ranked by the medium growth rate, if the medium rate is not available results will be ranked by the low growth rate. Select a plan to pull through to the full analysis by ticking the relevant box. 26. New Investment User Guide Investment Switching

28 TAXATION DETAILS Click on the Tax button to view any potential tax implications for the New Investment. The illustration above shows the new investments and the potential tax implications associated with each investment result. Against each product chosen for the analysis, details of tax will be shown. Net This is the fund value net of the tax calculated. Tax on Fund Details the amount of tax calculated for the investment. Tax on Income If an income is being taken from the investment, potential tax implications will show here. 27. New Investment User Guide Investment Switching

29 REMUNERATION DETAILS The Remuneration tab on the comparison results screen will detail the fees being charged. The fund projection is displayed at the medium growth rate. The remuneration is shown broken down, Initial (Single) and Fund Based and Total in the last column. 28. New Investment User Guide Investment Switching

30 BESPOKING OPTIONS An investment option may be bespoked on the results page to adjust the charges if they differ to those held as standard. Adjustments can be made by clicking on In the example above a 0.2% adjustment has been applied to the AMC. In order to bespoke the results, use the information below to assist with completing the relevant fields. FIELD Adjust Allocation Adjust AMC Lump Sum DESCRIPTION A positive value will enhance the fund. A negative value will reduce the fund to create an additional charge/fee Select positive to increase the AMC to add an additional charge/fee. A negative will reduce the AMC e.g. if the standard AMC is 0.9% an adjustment of -0.2% will make the charge 0.7% Select positive to enhance the fund. A negative will create a charge Once the adjustments have been entered you will need to click the Recalculate button at the foot of the page. The revised results will be shown and highlighted accordingly. 29. New Investment User Guide Investment Switching

31 RECOMMENDATIONS & PRINT OPTIONS Additional text can be added to the report by clicking on Include Recommendations. Two report options are available: 1. Select the recommended plan by using the tick box to the right of the projections; this will include plan charges, a year on year analysis, fund performance and Morningstar fact sheets. 2. If a plan has not been selected, the report will output the ranking table only. Additional text can be added to the report by clicking on Include Recommendations. Suitability or Reasons Why letters can be pasted into this section to make the transfer report complete. To proceed to the report print options click Print Options. 30. New Investment User Guide Investment Switching

32 PRINT OPTIONS The Additional Notes box allows for free text, which will appear in the report along with the selected product charges. If an adjustment has been made to a product charge in the bespoking option, a reason for the change should be recorded here. The Analysis Label is optional. Any text entered here will appear on the report cover. This label can be used to identify a report when different versions have been produced. Click Create Report to produce a PDF document, this can be printed and saved. All reports produced will be stored within Archived Reports for future reference. Once the report has been produced or throughout the analysis, the user can navigate Back to Existing Cases or create New Investment using the grey triangle symbol that appears on the top right navigation bar. 31. New Investment User Guide Investment Switching