Overlaying key life events against portfolio balance reports

We have been discussing as a team if it would be more meaningful for clients for us to overlay key life events (the purchase of a house, paying for a child's wedding, receiving an inheritance etc) ov...

client engagement

investments

jessica.lamb

Advisely Partner

2 years ago

sharyn.evans8

Great thoughts. Looking at this from a software perspective, you can use XPLAN and key milestones looking forward using Xtools, Xtools+ and my new favourite tool Cashflow Visualise.

But looking back on milestones from a visual perspective is a little more tricky. Some great performance reports from IPS display the clients' historical performance with peaks and troughs. Where this becomes more difficult to automate is the reason for troughs (and the peaks too). The idea of labeling the graph is great. I hope that further development is made in this space. Goals-based advice and review are very important.

One thing I have seen work well in this space, utilising XPLAN, is to use Goals to not only track future goals but review past goals achieved. Having a Goal Tracker built into your goals group is an easy way to achieve this. A simple choice field on goal tracking with options like, Completed, Pending, In Progress, Superceeded, Not Achieved etc. Then your review report can output these goals in a grid format of Goals Achieved, Goals in Progress, and Goals for the future. Cross referencing the past (achieved) goals to the graph of their investments.

Don't forget - Client Portal has a great graph under the Analysis tab that shows Net Transfer and Payments (Green line in Graph Below). Using this in a report would be helpful to show monies in and out.

Hope this helps!

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