Steps to create the strategy:
- Search and open your client.
- Go to the Digital Advice page from the client’s top menu bar.
- Select Add Scenario.
- On the Entity-selection screen choose if the advice is for the client, partner, or joint.
- Select Super Contribution strategy (Super Contribution offers multiple contribution types)
Type of contribution
- Non-Concessional Contribution
- Personal Deductible Contribution
- Spouse Contribution
- Salary Sacrifice Contribution
This is driving the recommendation mechanics so if you are doing a strategy that uses one of these types, you can use these to create the investment transaction.
The left panel allows you to select the fund you will make the contribution to. You can select another fund by clicking on this. Users can add a Lumpsum, the default option, or click on Regular on the right screen, to add a regular amount and details.
Now you will be able to recommend regular contributions ranging from current to future financial year.
An additional field of Monthly Contribution( Future Financial Year) will be visible in case you select end date within future financial year.
Contributions Amount Source
The next step is to select where the contribution is coming from. A balancing transaction. If you have selected a smaller regular amount, it will only be looking to take the first frequency amount. In the above example, it will be looking to source the monthly amount of $100,000.
Furthermore, we have now given the functionality to user Future Cashflows as a source of the contribution. Now users can use a combination of Future Cashflows & Existing Assets. When creating a new Superannuation contribution strategy users will be able to recommend contribution using a source that is a future cash flow. In the source funds screen, the user will have an option to add “Other” and check future cashflow options:
On the SOA output screen, the sources will be added to the collections and will flow as other sources.
The source will then be shown in the right panel and default to 100% of the amount. You can click into the Transaction value and edit this to a lower amount and then select another asset to split this into more than one source fund.
Investment Portfolio Screen:
On the Investment portfolio screen user can select the underlying investments for the contribution amount and proceed forward to complete the strategy.