Group SMA functionality in Digital Advice.
- As a user, he/she should be able to group the existing investments at the SMA level (coming through Datafeed) into a one-line item
- Use these grouped SMA coming from Datafeed for recommendation purposes in the Digital Advice >> scenarios.
- Ability to view Asset Allocation and Investment Fees & Cost at the SMA level under Digital Advice >> Scenario.
Setting Up SMAs for existing Underlying Investments: Users can now group the existing underlying investments of the SMA (coming through Datafeed) in a single line item and use it as part of creating new strategies instead of using individual Underlying Investments.
Following are the providers who are sending us the data for group SMA:
- BT Panorama
- Macquarie e-Wrap
Following is some limitation of data sent to us by the providers:
- Netwealth: As of now Netwealth is not sending us the description and codes of the investments because of this we are unable to display the names as well as Investment Fees and Cost for them under Digital Advice if the grouping functionality is turned on.
- Macquarie: Macquarie is sending us individual SMA codes in place of description, hence it is difficult for us to describe the models and the user will only be able to see the codes as we receive them when grouped together.
Note: Our In-house team is in constant touch with all these providers to get the latest and updated feeds from all of them in real-time.
To use Group SMA functionality (for existing) follow the below steps:
- Click on Digital Advice Settings.
- Go to General Settings >> Turn on the Group SMA toggle (changes will apply to the new scenarios only)
Existing Group SMA in Strategies for recommendation:
- You will now be able to view existing Underlying SMA investments as a grouped single line item with all the Underlying Investments visible under the tooltip.
- The asset allocation will be displayed at the SMA level, the calculations are done using the weighted average of all the underlying investments of the grouped SMA.
- The Investment Fees and Cost on the Fees screen of the scenario will also show the Fees at the grouped SMA level.
Note 1: On hovering over the tooltip button, the user could see an information box (expanded view) showing all underlying assets within the SMA along with their weightage & code.
Note 2: If the Investment Fees and Costs are missing for any of the SMA – the user will receive an SMA pop up when creating a new scenario to manually enter it, furthermore we have given the option to check and edit the Existing SMA fees while doing a scenario which can be accessed through the 3 dots on the upper right corner of the screen.
Template Output: The grouped SMA will be visible as Digital Advice screens on the template.