1. Are there any self-paced learning tutorials for Digital Advice?
Yes, you can refer to the e-learning modules designed specifically for self-paced learning. Click here to access the module.
2. How do I switch ON Digital Advice?
Go to Tools -> Adviser Profile
Under Adviser Profile (left panel), use the Digital Advice toggle to enable.
Please note that any open clients need to be closed and reopened for the digital advice button to appear in the menu bar.
3. Where are the Superannuation and Insurance tabs?
and where do I enter existing Super and Insurance details?
With Digital Advice enabled, you can find existing super and insurance under the ‘Fact Finder’ tab as Existing Superfund and Existing Policies and that is where you can add the existing details. Recommendations related to Super and Insurance can be entered from Digital Advice.
4. How do I change the default settings in Digital Advice?
Click on the gear icon in the top right-hand corner of scenario screen to change the default settings. You can also access settings via the go to settings link the first time you access Digital Advice for a client.
5. How do I create a scenario?
Click on add first scenario if you are using digital advice for the first time.
Click on the blue ‘+’ icon (upper left) when you want to create another scenario.
6. How do I delete a scenario?
Click on the bin icon to the right of the scenario name and click delete.
7. Why doesn’t my current scenario reflect changes made in the default settings?
After you change the default settings, you will have to create a new scenario for the latest changes to be reflected.
8. I have updated my fact find. Why does it not appear in my current scenario?
When you update fact find data, it will not reflect in existing scenarios. For the changes to reflect, you must create a new scenario.
9. Will the recommendations made in digital advice affect fact find data?
As a functionality, when creating a scenario, the changes made in the scenario do not reflect in the fact find data. However, any updates in the fact finder data get reflected in a new scenario of Digital Advice.
Exception: Update in occupation when user lands on Risk-logic quoting screen first time prompts the user to save changes in Fact-find as well.
10. My client has a partner. How do I create a joint recommendation?
The first screen after creating a scenario, you are presented with 3 tiles to allow you to select client, partner or joint advice. Click on the joint tile to create a combined recommendation.
11. How do I know if my scenario is complete?
After clicking on the Finish Advice button, a green band will appear across your scenario card which will read ‘This scenario is completed’.
12. What happens if I leave a strategy incomplete?
If a strategy is left incomplete, a blue band appears across the scenario card which reads ‘Resume’. If all the strategies in the scenario have been completed then a green tick will be shown against that strategy. When you resume, you will be taken to the strategy you are up to.
13. How do I change the template to be mapped to the scenario?
Click on the gear icon and go into settings. Under general settings -> select template -> click change. Now click on select folder and then select the template. Click Save.
14. How can I add more strategies/ delete selected while I am working in the scenario?
Click on strategy name in the top left corner. From the drop down, click on the home button. You will be redirected to the strategy page and then you can add more strategies to your scenario. You can even delete the already selected strategies from the scenario.
15. How can I toggle between different strategies?
To move to a different strategy within a scenario, hover over the strategy name. You will be able to see different strategies. Click on the strategy you wish to jump to.
16. How do I edit a scenario or a particular strategy in a scenario?
If the scenario is incomplete, click on the resume button on the scenario card to go back to the screen where you left.
you can click on the strategy name inside the scenario card and that will be directed to the corresponding section.
17. How do I delete a particular strategy from a scenario?
There are two ways to delete a strategy
(1) Once inside the scenario, click on the top left dropdown, go to Home, de-select any strategy that you want to remove.
(2) On the scenario screen hover over the section name on the scenario. Click on the trash bin on the right corner of the section name to delete the entire section and all the strategies present in that section.
18. What are custom strategies?
Custom strategies are those strategies which are not present as default in Digital Advice but may form a part of your SoA template. These can be edited on the screen during advice creation.
19. How do I edit the final SoA?
Click on the eye icon on the scenario card to open the SoA. Then click on the pen icon on the top right corner to enter SoA's edit mode. You can navigate the content table by clicking on three dash icons on the top left corner.
20. How do I change the AFSL split?
Click on the gear icon -> general settings->fee splits-> change. Similarly, this can be done for adviser/upfront fees.
21. How do I add and create a model portfolio?
Click on tools icon->model portfolios-> add-> enter portfolio name -> save. Hover over the add button and select the asset you want to add with the required details in the portfolio investment list. Make sure the allocation percentage is 100% and click on save.
22. Why is it that one of the strategies is disabled?
With Superannuation, you need to add a superfund before proceeding to create superannuation strategies. Similarly, when adding a bank account in assets, click on term deposit checkbox to enable the term deposit strategy.
23. Does the addition of an asset or liability in Digital Advice reflect in the fact find?
Any asset or liability added in Digital Advice does not get added into the fact find.
24. Why am I not able to click on the proceed button?
You cannot proceed to the next screen unless you have utilized 100% of the funds.
25. How do I add and create a custom product?
Click on tools icon->custom products-> add. Fill in the product details and click on save.
26. Can I change the order of the chapters in a template?
You can change the strategy order – drag and drop. You can change chapter order, strategy order within a chapter but you can’t move a strategy from one to another. So, I can move a level 3 page inside a level 2 heading, and I can move a level 2 heading inside a level 1 heading, all with drag and drop.
27. Why am I not able to see my client’s partner’s assets / liabilities?
If you create a strategy for the client only, the client’s assets / liabilities can be seen.
Under joint strategies, both the client’s and partners’ assets / liabilities are visible.
28. Why doesn’t ‘reduce nondeductible / deductible debt strategy’ show all the liabilities?
A Reduce nondeductible debt strategy only shows those liabilities where tax deduction is not available on the amount. Similarly, a deductible debt strategy shows only those liabilities where tax deduction is available. This can be checked from the liabilities section under fact find.
29. Can I combine 2 Scenarios?
No - each Scenario is a single Advice Document (SoA).
You can copy and paste content from any source into a scenario output.
30. Why does SoA output only shows the cover page when I select the eye icon?
The SoA will open in a new window which you need to maximise in order to view the full document.
31. Why does SoA output not show page numbers?
The SoA is designed not to create page numbers as a PDF with auto navigation menu replaces the need for old style page numbers.
32. Risk Profile Variance - where do I enter this in Fact Find?
The Risk Profile Variance reason can be entered in your client fact find in the Comments field. Any value here will populate in the AdviserLogic Base SoA output.
61. What if I want to add more custom strategies?
You will need to connect with our implementation and consulting team to get more custom strategies added.
62. How do I add page numbers and update the Table of Contents?
Table of Contents (TOC) and page numbers are auto generated upon download to Docx. To update the TOC, once you have finalised your advice template, use standard MSWord TOC update. Depending on your version of Word, click in the TOC and you will get option to update table or just page numbers.
63. Can I access Template Designer to create and edit my own template?
Current all the template design work is restricted to our implementation and consulting team. We do plan to make this available to users in the future to allow you to build and maintain your own templates. If you need assistance with a template or wish to enquire about changes, please email AdviserLogicconsultingsupport@morningstar.com
64. Disclosure - Advice, Implementation, Ongoing and Product Advice Fees
The Cost of My Advice page is designed to capture fees you charge directly to your clients and uses key words. Preparation Fee table requires the word "Preparation" included in the fee name. Implementation Fee table requires the word "Implementation". Ongoing Fee table requires the word "Ongoing". Fees from products are now available to be saved in Settings as a sliding scale or singular as a dollar or percentage. These fees will display in a separate table from investment products.
Note: Digital Advice videos are also available in eLearning