Click on images to expand in a new tab
Overview
The Invest in Term Deposit strategy in AdviserLogic’s Digital Advice module allows you to recommend allocating client funds into a term deposit as part of an investment strategy.
This strategy helps illustrate the potential benefits of moving funds from existing investments or available cash into a term deposit. Within the Digital Advice workflow, you can model the required transactions, allocate the investment, and generate compliant advice documentation for the client.
Term deposits are typically used for clients seeking capital stability and predictable interest income over a fixed period. By incorporating this strategy into a Digital Advice scenario, you can clearly present the recommended investment allocation and supporting rationale within the Statement of Advice (SoA).
⚠️Important
Support logins have read-only access to scenarios. Only Paraplanners and Advisers can create or edit scenarios.
Strategy Selection
Please follow the step-by-step instructions below to prepare advice for the Invest in Term Deposit Investment strategy.
📌Note
Before completing this advice, you can model an Investment strategy in the Cashflow Module. The modelling can be added to the advice to support your recommendation.
From the Digital Advice - Scenarios Screen, select the Add Scenario icon.
Select the client the advice is for, or select Joint to create advice for your client and partner. Select the type of advice ( SoA or RoA), then Proceed To Scope.
Select the Invest in Term Deposit strategy from the Strategy screen under Investment Strategies, then select Proceed. Link the Goals or skip this step.
Invest In Term Deposit
The Invest in Term Deposit section is divided into two parts.
On the left is a list of the client's existing investments and holdings, with options to release or create new funds. On the right is a summary page of the actions taken and the funds released.
The first action is to release funds from the client's existing holdings and investments. You can also create a Liability by selecting the Create Liability button, there is also an option for Other, where scenarios involving incoming inheritance, for example, can be modelled.
Release Funds
Release the client's existing funds by adding the amount to be released in the final Transaction column, then clicking outside of the table. The released amount will show on the right-hand side of the screen.
You can remove the released funds by hovering over them on the right-hand side and selecting the Rubbish Icon button.
Add Liability
Select New Liability to add an Investment property loan to the client's holdings. Enter the requisite information in the fields and save. The Liability will now appear on the right-hand side.
To edit the liability information hover over the liability on the right-hand side and select the Pencil icon to edit or the Rubbish bin Icon to delete.
Other
Similarly, select the Other button from the top of the left screen to add additional amounts and enter the requisite details.
Summary
On the right-hand Summary window, you will see a list of the transactions you have created. These transactions are editable by hovering over the individual transaction and selecting either the Pencil or the Rubbish bin Icons.
The Line items are divided into three main columns Existing, Transaction, and Projection.
Existing
Shows the client's existing assets.
Transaction
Shows the recommended transactions you have entered.
Projected
Shows the remaining amount from the Existing and Transaction amounts.
📌Note
If the existing amount is Zero the projected amount will also be zero as the projected amount is the existing minus the transacted.
Total Recommendation Amount
The Total Recommendation Amount can be found at the top right of the right-hand side window.
Asset Allocation and Product List
Access the Asset Allocation Tool and Product List from the three-dot menu at the top right of the window.
Asset Allocation Tool
The Asset Allocation Tool is the same as found in Advice Tools. It will show the asset allocation information specific to your recommendation.
Product Detail List
Selecting Product Detail List will download a spreadsheet with a detailed product list to your downloads folder.
Add Term Deposit
Proceed to Add Term Deposit by selecting the button from the bottom right of the window.
Enter the new term deposit details and Save, ensuring the total valuation amount and fees do not exceed the Total Available Amount.
Entering an amount higher than the available amount will trigger a warning message and you will be unable to proceed.
Similarly, entering an amount less than the recommended amount will not allow you to proceed.
You may edit the original term deposit or create another one until all the funds have been allocated. This will activate the Proceed to Review button
After entering the correct amount, the new term deposits will appear in the Summary window on the right-hand side.
Any remaining amount will also show in the summary window. The full Available Amount must be utilised to proceed. Select Proceed to Review from the bottom right of the window to continue.
Review
Review the details entered on the review page, you can edit the details by hovering over the tile and selecting the Pencil icon, there is also a section to enter a Summary.
Edit the Advice Document
You may also edit the advice document from within the scenario by selecting the Save And Preview button from the top right of any screen within a digital advice scenario and following the Advice Editing Instructions.
Fee Disclosure
After editing the text to your liking, select the Proceed to Disclosure Fees button at the bottom right of the screen. From there, add your fees and complete your advice.
Link Cashflow
After completing the advice, you may add any previously created cashflow modelling to the scenario by selecting the Link Cashflow option from the Scenario Tile. The cashflow tables will be drawn into the final advice document.
