Composer Release Notes

Advice Composer 10.0 is the latest release of Planfocus Advice wizard. It was released on 08 Feb 2021. Last updated: March 2021

Composer 10.0

Full revamp of the Investment Recommendations screen to allow the inclusion of several Wealthsolver scenarios in order to present alternative product comparison for each individual product as well as ability to specify narrative around specific product recommendation
Added Better Position Statement screen which allows adviser to specify whether each objective will be met and the reason behind
Added Alternative Strategies and Products as a separate screen in addition to the alternative strategy tab at the strategy level. This gives the user more flexibility on where to enter in alternative strategies.
Added ability to merge the Safe Harbour Checklist upon completion of the wizard and automatically save in client file notes.

Creation of Quickplan feature which goal is to create advice documents in less than 40 minutes including modelling
Change in Safe Harbour Checklist to allow "Unsure" option
Adding ability to enter a custom cover letter via Advice Configuration screen
Ability to merge strategy key benefits to the executive summary
Simplified Wealthsolver configuration screen

Strategy Library Comprehensive review and update (new strategies and rates updates in relation to COVID)

Wealthsolver integration Added Like-for-like comparison General Rates and Thresholds updates - March 2020
Changes to backend design to allow practices to have their own customised content.
Bug fixes

Wealthsolver integration Modelling for non-individual entities within WealthSolver will now flow through to the Advice document when entities are included in the advice. The proposal types of Switch Investments, New Plan and Plan Review are available for trust, company and partnership. Only investment plans are available for non-individual entities.
SMSF entities must be managed through the Joint Proposal so that Ownership can be tracked. The proposal type available is Plan Review. General Change to backend structure to allow multiple version of Composer to run on a single XPLAN site (e.g: production version and development version available to a working group only)

CALM Projections 208 new CALM projections added to CALM screen in the wizard General Format improvement in the About our Advice, Our Advice to You, Insurance Replacement, Cost of Recommendations sections.

Financial Projections Some CALM projections generate an error message Insurance Recommendations section Protection Summary chart don't appear if Needs Calculator has not been used within the Risk Researcher scenario Risk Profile section Error displays when related entity does not have a risk profile Our Advice To You Products recommended through Wealthsolver don't appear Your Current Situation Tax residence Status always display "No" regardless of its value in XPLAN

General Rates and Thresholds update - September 2019 Additional entity types: Trust & Company User can now generate an SOA for Trust and Company entities Strategy Recommendations Wizard:
- Sections have now been split into Tabs.
- New text fields have been added for: Overall Key Benefits, Alternative Strategies Considered, Implementation and Further Information.
- Section title has been removed from the text field e.g: "Reason for my Recommendation" and incorporated directly in the template.
- Template: Layout has been amended to table format for more clarity Product Recommendations screen Wizard: Product Recommendations screen have been added to allow user to enter their preferred product information and recommendation details. Captured details will flow through in the Investment or Insurance Recommendations sections Goals and Objectives screen In Scope/Out-of-scope filter is now available for the Objectives group field. Action Plan Addition of Who is responsible field Our advice to you section Overall Key Benefits no longer reads from the Objectives group field but the Strategy Recommendation group field.
Change of layout for more clarity
Inclusion of Recommended Products from the Product Recommendations screen About our advice section Change of layout for more clarity

CALM | Income Support - Pension table is showing an error in the document XTools+ element in the wizard has now been updated to reflect the change in CALM where Income Pension screen is now split into Pension Summary and Pension Details When Wealthsolver proposal includes both non-investment and super/pension plans, proposal details won't come through When recommending both non-super investment and super or pension investments within a same proposal, proposal details will come through under the super recommendation. When user elects to display Transactions only output (without Summary) from Wealthsolver, tables won't come through Summary and Transactions outputs from Wealthsolver are now mutually exclusive. When user does not have a Wealthsolver license, Wealthsolver proposals won't come through User does not longer require to hold a Wealthsolver license in order to pull through the details of an existing Wealthsolver scenario into the advice document

General Order of the sections have been changed following user feedback Financial projections User can now choose from the wizard whether to place the financial projections in the body of the SOA or in appendix Our advice to you section User can now populate the overall key benefits from within the Objective group field in the wizard Ongoing Service section User can now choose category based service package to define the recommended ongoing services About of our Advice section Order of the sections have been amended to allow for better clarity. Cost of Recommendations section Commission table has been redesigned for more clarity

Header and footer breaking onto new line Header and Footer have now be amended to avoid breaking on new line Client name not consistent across the SOA. Client name displays consistently the client preferred name across the Advice document. Table of content not displaying correctly Table of client now displays correctly all level one heading without user having to manually update the table Error in variance to target allocation Variance to target allocation table in now displaying the correct amount

Risk Profile Description and Asset allocation Composer template now reads Risk Profile description and Asset Allocation automatically from the Assumption > Risk Profile screen. This allows the SOA to immediately take into account any changes that the practice might want to make in relation to risk profiles. Current Situation Formatting Reformatting of the Current Situation (summary and detailed section) to remove decimal points from $ amounts.

Replacement of product Wealthsolver proposal comparison for the partner entity does not display when selected in the wizard Wealthsolver PDS Wealthsolver PDS documents do not get attached to the SOA