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Overview
Establish an Offset Account strategy within AdviserLogic’s Digital Advice module helps you generate advice recommending that a Self-Managed Super Fund (SMSF) links an offset account to reduce interest costs on a property loan. This strategy provides pre-filled advice content that you can tailor to your client’s SMSF, outlining the benefits of offsetting loan interest, how it works, and key considerations. In Digital Advice it appears as a Custom SMSF strategy and is designed to streamline your SoA drafting while ensuring compliant, client-focused recommendations.
Custom Strategy
The Establish an Offset Account SMSF Strategy is a Custom Strategy, a template with prefilled text relevant to the recommendation, rather than a strategy that calculates data.
Custom strategies are designed to reduce the time and effort required for drafting in the advisory process. By providing pre-filled text data relevant to the selected strategy, advisors do not need to start from scratch, saving valuable time.
To learn more about Strategy Types, please read the Strategy Cheat Sheet.
Establish an Offset Account SMSF Strategy
Please follow the step-by-step instructions below to prepare advice for the Establish Offset Account SMSF Strategy.
Your client must have an existing SMSF in Fact Find for this strategy to be available. If no SMSF exists in Fact Find > Superannuation, the SMSF strategy button will be inactive.
📌Note
Before completing this advice, you can model an SMSF 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 Establish an Offset Account SMSF Strategy from the Strategy screen, then select Proceed. Link the Goals or skip this step.
To adjust your Advice text, use the Editor Tool at the top of a Word document-inspired page.
It's a user-friendly feature enabling you to customise your text as needed. Orange Highlighted placeholder text must be updated.
📌Note
Hovering over each icon in the tools ribbon will show what it does.
The Establish an Offset Account SMSF Strategy includes a pre-filled explanation of establishing an offset account.
To help you with your task, the text area has been designed with 3 constructive main headings that are pre-filled with common considerations. You can use this as a starting point and customise as needed.
My Advice - Outline of the advice that you are providing to the client.
Why My Advice is Right for You - Add the reasons for which you have recommended the strategy to the client, along with their benefits.
Risk and Things to Consider - Add consequences, etc., for your Advice.
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.
