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Xplan Hacks
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Client conversations just got more interesting

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Advisely-Team
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9 days ago

Conversations are the core of the adviser/client relationship: they’re a golden opportunity to demonstrate the kind of value technology could never replace.

What they rarely demonstrate, though, is the amount of work that goes on behind the scenes. While there are often good reasons for moving all the detail to the back-office, what if you could bring some of that complex strategy and scenario modelling to the fore – and deliver a more productive, engaging and empowering client experience as a result?

Enter Visualise with Xtools+.

Complex modelling made simple

Xtools+ is the only advice strategy modelling tool powerful enough to accommodate the ever-increasing complexity of the average client. From retirement strategies to aged care, property gearing, investment bonds and child care subsidies, Xtools+ can handle almost any client scenario.

Historically, Xtools+ has been reserved for “behind-the-scenes” modelling and strategy development that was far too complex for use with clients. With the new Visualise capabilities, though, you can harness the power of Xtools+ in a simplified visual interface designed for client engagement and participation.

Built-in Monte Carlo simulation means that you can experiment with strategies on the go, showing your client a range of possible outcomes and demonstrating the impact of their financial decisions.

Andrew Rowan Wealth Management principal Andrew Rowan has already road-tested the strategies functionality in Visualise – with resounding success.

'"Visualise has transformed our client conversations,” he says. “Our clients love being able to see something visual in our planning and review meetings, and we can really bring them on a journey."

He adds: “Working on strategy outcomes and scenarios there and then means we save hours going back and forth to Xtools+, and ultimately our client leaves feeling empowered about their future."

Putting retirement plans into sharp focus

As we’ll soon explore in the Advice 2030: The Big Shift whitepaper (developed with Deloitte Access Economics), skyrocketing retirement demand is one of seven “megatrends” opening up new opportunities for advisers. 

Reflecting this trend, we’re rolling out multiple updates aimed at bolstering retirement strategies available through Visualise. Among these are account-based pension modelling (TTR and retirement phase pension) and downsizer contributions to super.

Commenting on the new strategies, Iress product manager Lana Graham said these updates “are designed to offer advisers and their clients the ability to experiment with different retirement decisions.”

“You can model up to two account-based pensions from Visualise,” she continued, “including transition phase as well as retirement phase. As you adjust work transitions and retirement ages during client discussions, the pensions automatically adjust so you can together see the impact on cash flow, net assets and income support.”

“You can also make lump sum contributions along with the pension, without needing to go to Xtools+ - non super assets are automatically cashed to fund the contribution, you can see whether the bring-forward rule is triggered and if contribution caps are exceeded.”

Read more about Visualise with Xtools+ here. For a deep-dive into the new retirement strategy functionality, check out these Iress Community articles on account-based pension modelling and modelling a downsizer contribution along with a property sale.

Updated 9 days ago
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