How to Remodel a Client
Step 1 - Clone your existing model to update and use as your "Current Strategy" scenario.
Step 2 - Name the cloned scenario "Current Strategy" or similar.
Step 3 - Update the START DATE of the model
Click on the Client's Name (see arrow 1 on below screenshot). This will take you to the client-wide settings.
Set the start date (see arrow 2 on the below screenshot).
Click UPDATE to save the change.
Step 4 - Update Account Balances to current values on the Accounts screen
If you are doing ongoing tracking via Actual Balances, these values should be the same as the last Actual Balances entered.
Step 5 - Update Asset Values on the Assets screen
If you are doing ongoing tracking via Actual Balances, these values should be the same as the last Actual Balances entered.
Step 6 - Update Superannuation / Pension Fund Values on the Super screen
If you are doing ongoing tracking via Actual Balances, these values should be the same as the last Actual Balances entered.
Step 7 - Update Adviser Fees on the Expense screen
If you billing the client via the Prospera DDR system, make sure you update the ongoing advice fee that is currently being paid.
You can check this by clicking on "Billing" from the left side menu.
Then select "Billing Records", and check the amount shown as the Current Billing Record.
This Billing Record shows the next monthly amount to be drawn.
Multiply this amount by 12, and ensure this is the amount shown in the Adviser Ongoing Fee Record on the Expense screen.
If it is not the same amount, update the Ongoing Fee Record on the Expense page of your scenario.
This completes the "Current Strategy" scenario.
Step 8 - Clone the "Current Strategy" scenario to create your updated model, and update the scenario name.
Clone the Current Strategy scenario and create your new scenario, which will include any of the client data updates.
Typical updates would be items such as a salary increase, receipt of a large bonus or inheritance, modification to expenditure
and / or spending goals, and any other changes the client advised.
Step 9 - Evaluate the results of the model and assess whether any strategy updates are required.
Consider the results of the scenario, and evaluate whether the original strategy should be updated.
Based on the new data entry, it may be possible (or necessary) to modify the existing strategy.
You can now compare the Current Strategy scenario outcome against the new scenario.
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