courtney.youngblutt's avatar
courtney.youngblutt
Icon for Iress Contributor rankIress Contributor
3 months ago

12th Feb AMA: I'm Courtney Youngblutt, Xplan Design Consultant & efficiency expert, Ask Me Anything!

We all know that data accuracy is the key to efficiency – want to make 2025 the year you leverage your data with Xplan?  For example, curious about using advanced search criteria and Xport to audit...
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bridget.poolman's avatar
bridget.poolman
Social Sightseer
3 months ago

Hi Courtney,

We want to update their Asset Allocation and fees in wealthsolver more frequently that the PDS is updated (and therefore what the Platform feeds Xplan). 

Can you please let me know the best way to do this as the Asset Allocation is updated quarterly and the PDS runs every 18 months.

thanks,

 

Bridget

 

  • courtney.youngblutt's avatar
    courtney.youngblutt
    Icon for Iress Contributor rankIress Contributor
    3 months ago

    Hey Bridget, thanks for posting. 

    If the product itself actually changes asset allocation regularly, and you can source evidence from the provider that it has changed, you can raise this via IressConnect  and our WealthSolver Research team / FundData team will push through the changes. Their aim is to absolutely keep all product details up to date and accurate - so reach out.

    If you are changing the Asset Allocation independently of what the providers publish, the only way to do this would be to change your Xplan site to use Portfolio (IPS) data as it’s source of truth rather than FundData (which is what is used in WealthSolver by default.) - it is possible to create custom products in WealthSolver, but this would result in alot of workarounds and increased manual intervention.

    You could then manually alter the asset allocation via portfolio products. You can upload asset allocations in bulk if you choose to implement this.

    The difference between using Fund data or IPS as the datasource is explained in Xplan, Navigate to Research > WealthSolver > Knowledge base > Reference > "IPS and FundData as a data source" This setting applies at a site level, so this may not be an option if you are on a managed or licensee site,

    ‼️⚠️Don’t make the decision to switch data sources lightly - consider all the pros and cons in the above document and any flow on effects - you may need to update SOA templates for example, to ensure fees etc are displayed correctly from the IPS datasource. ⚠️‼️

    💡My Tip - use WealthSolver wherever possible and let the Fund Data team do the heavy lifting of keeping the research up to date.

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