Getting started and what you can do
- The ‘What If’ tool allows you to illustrate to your client potential changes to their product without making physical changes to the product.
- It also allows you to illustrate changes to contribution levels and income levels including illustrating a single or regular. You can also illustrate changes to adviser charging level and an ad hoc adviser charge.
How to run the ‘What If’ tool
Find the client account you wish to run an illustration to show potential changes to a product.In the client summary page click on the Quick actions to the right of the product you want to run the ‘What If’ Tool.
This will open a drop-down menu and here the option, Launch ‘What if’ tool will show.
Below the Launch ‘What if’ tool is the Launch ‘No change’ tool option. Clicking here will run an illustration for you based on the current product value, charges, contributions and withdrawals which will complete in the client’s document library.
Modelling changes using the tool
In the tool you will have five changes that can be modelled. There is a sixth, Edit investment selection which only becomes an option when Edit payments in is selected. Changes that can be modelled:- Edit payments in - Allows you to illustrate new contribution, single and/or regular contribution along with transfers. When selecting this option you can also make changes to the ongoing adviser charging, adding initial adviser charges and editing investment selection. Investment selection screen will show existing client investment holdings, you can choose to allocate to existing investment or select a new strategy.
- Edit adviser charges – Allows you to illustrate changes to the level of ongoing adviser charge. You can update as a percentage value or monetary amount.
- Add additional adviser charge – Allows you to illustrate a one-off ad hoc adviser charge or include the effect of other product adviser charges being taken from the product you’re illustrating on (for example to show the effect of ISA adviser charges being taken from PP to demonstrate the impact of auto-disinvestment).
- Add/edit regular withdrawals – Allows you to illustrate changes to an existing regular withdrawal where applicable or add a new regular withdrawal. It will ask you for a the value, percentage or monetary amount then the frequency, start date and continue until dates of withdrawal.
- Add one-off withdrawal – Allows you to illustrate a one-off withdrawal by giving you an estimated total value of the product.
Once you have selected a change to model, the steps on the right hand side of the screen will update reflecting what you need to complete.
Step two will show you basic client information:, title, name, gender and date of birth, however details can’t be amended here.
Work through and complete the required information and changes to be modelled.
You can work back through screens using the ‘Previous’ button at the bottom left of the screen.
The final Illustration ready step will generate the illustration for you to view. This will also automatically save to the client’s Document library.
You can use the edit pencil to make any amendments.
Step two will show you basic client information:, title, name, gender and date of birth, however details can’t be amended here.
Work through and complete the required information and changes to be modelled.
You can work back through screens using the ‘Previous’ button at the bottom left of the screen.
The final Illustration ready step will generate the illustration for you to view. This will also automatically save to the client’s Document library.
You can use the edit pencil to make any amendments.