Group SMA functionality
The Group SMA Functionality provides users with the flexibility to group existing underlying investments held within an SMA into a single line SMA, or ungroup the existing underlying investments that form part of an SMA within the Assets Screen, Digital Advice (Advice Tools & Scenarios) and the corresponding advice document where SMAs are available.
The ability to Group/Ungroup SMA is available for existing investments from the Datafeed providers.
- BT Panorama
- Netwealth
- Macquarie e-Wrap
- HUB24
- IOOF
- Praemium
Please note there are, at present, some limitations relating to the data sent to us by these providers.
Netwealth Is currently not sending us the description and codes of investments, due to this, we are unable to display the names of the SMA, as well as Investment Fees and Costs for them under Digital Advice when the grouping functionality is enabled.
Macquarie Is sending us individual SMA codes in place of description, this complicates our ability to describe the models. This means our users will only be able to see the codes as we receive them when grouped together.
Praemium
How are Praemium’s SMAs different to other platforms?
Praemium supports a blended approach to SMA management. This means that where manager or investor-initiated transactions take place, Praemium will first look to adjust holdings within the client’s SMA portfolio before transacting on the holdings. The benefit to the client is fewer transactions which can support lower transaction costs and reduced capital gains tax outcomes.
How is AdviserLogic managing the blended SMA balances?
When SMA grouping is switched off, the underlying holdings will be displayed showing the transactions for each holding. When SMA grouping is switched on, only the balance for each SMA will display. This supports the general requirement for users to view an accurate balance for either the individual underlying holdings within the portfolio or each SMA when generating advice for the client.
Our team are working closely with product providers to resolve these limitations.
Asset Screen
The Assets screen in AdviserLogic allows users to enable or disable Group SMAs by simply enabling and disabling “Group SMA”
- Enabling the Group SMA feature allows users to view existing investments held within a single line item.
- Disabling the Group SMA feature allows users to view existing underlying investments that form part of a SMA individually.
Digital Advice (Scenarios & Advice Tools):
The Group SMA toggle can be switched ON/OFF.
Go to Digital Advice > Scenarios > Settings via the client card
Go to General Settings > Slide the ON/OFF Group SMA toggle to the desired position
Please Note: Only new scenarios will be affected by these changes
Group SMA Toggle ON
Advice Tools
The existing underlying investments within an SMA will be grouped into a single line item with all the underlying Investments visible under the tooltip by hovering over the Information icon.
The Investment Fees and Costs will show Fees at the SMA level.
Scenarios
The existing underlying investments within an SMA will be grouped into a single line item with all underlying investments visible under the tooltip by hovering over the Information icon.
Asset allocation is calculated based on the weighted average of all the underlying investments of the SMA.
Advice Document Output
The existing underlying investments that form part of the SMA are grouped into a single line.
Hovering over the tooltip icon allows users to view all underlying investments within the SMA along with their weight & code.
Group SMA Toggle OFF
Advice Tools
The existing underlying investments within a SMA displayed individually
The Investment Fees and Cost will be shown at the individual existing investment level.
Scenarios
The existing underlying investments within an SMA displayed individually
Asset allocation will be calculated based on the individual underlying investments that form part of the SMA
Advice Document Output
The existing underlying investments that form part of the SMA shown as individual underlying investment options.
Existing SMA Fees
If the Investment Fees and Costs are missing for any of the existing Datafeed SMA, a pop-up window will activate allowing users to manually enter the SMA's Investment Fees when creating a new scenario or using Advice Tools.
Users can also check and edit the Existing SMA fees while doing a scenario which can be accessed through the vertical ellipsis (3 dots) on the upper right corner of the window.
The Reset feature allows users to reset the fee values to their defaults by selecting the circular arrow icon from the top right of the Fees & Costs window.
