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Overview
The SMSF Platform Switch strategy in AdviserLogic’s Digital Advice module allows advisers to model and recommend the benefits of transitioning a client’s Self-Managed Super Fund (SMSF) from one investment platform to another. This strategy supports advisers in comparing platform features, fees and investment outcomes to help determine if a switch could better align with a client’s objectives and improve cost or service outcomes.
⚠️Important
Support logins have read-only access to scenarios. Only Paraplanners and Advisers can create or edit scenarios.
SMSF Platform Switch
Please follow the step-by-step instructions below to prepare advice for the SMSF Platform Switch 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 Platform Switch 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 SMSF Platform Switch strategy from the Strategy screen, then select Proceed. Link the Goals or skip this step.
The SMSF Platform Switch window is divided into two sections. On the left is a list of existing SMSF's to switch out of. Choose the Select Investments button from the SMSF you wish to switch out of.
Enter the amount from each investment to be released for rebalance and Save.
Next, select the fund to switch into. Once you have chosen the fund, you will be able to select whether it is an In-specie transfer by adjusting the toggle. Proceed to the next stage by selecting the Proceed to Investment Portfolio button from the bottom right of the window.
Portfolio Rebalance
The Investment portfolio screen is divided into three panels.
The Left panel - shows the client's existing funds and SMSF, the previously released totals will show on the highlighted SMSF
The Middle panel - shows the clients exiting underlying investments along with some options to rebalance these
The Right panel - shows The client's asset allocation including Existing, Strategic and Recommended values on a line chart, as well as an asset allocation tool button.
If you do not wish to rebalance the released funds, then you may select the Proceed to Research button from the bottom right of the window.
To rebalance the released funds. From the middle panel, sell the investments to release the monetary value by entering zero in the proportion column and clicking the cursor outside of the field.
The percentage value will zero out, a red dollar value will show in the Transaction column, and the Remaining Balance will now mirror this amount. This is the amount available to redistribute.
To reallocate the funds that have been released, use the Rebalance Portfolio button from the top left corner of the middle panel to redistribute the funds equally between existing investments.
Add new investments by selecting the Add/Plus + button next to Underlying Investments. You can select a Model Portfolio or SMA from the drop-down menu to add a pre-designed investment portfolio or choose an SMA for a customized portfolio.
When adding underlying investments, please ensure you choose the platform from the drop-down, rather than a direct investment.
After selecting your preferred investments, Save and proceed to Research by selecting the button from the bottom right of the window.
Research
The Super Research screen will be specific to the selected client, showing the client’s existing super funds, with an option to add additional super funds for comparison. The functionality is identical to the standalone tool in Advice Tools.
To enter the Super Fund to be compared, select the down arrow along the Add Superfunds heading at the top of an empty column and select the fund from the drop-down menu.
Select the Proceed to Fees button at the bottom right corner of the window once the necessary funds have been added, or if no additional funds are required.
Fee Research
The Fee Research section functions are identical to the above, as well as the standalone Fee Research tool in Advice Tools . The screen will be specific to the selected client, showing the client’s existing super funds, with an option to add additional super funds for comparison.
Once the Super fund for comparison has been selected, add underlying investments or a model portfolio with the remaining balance and Proceed to Review.
Review
Review the details entered on the review page. You may edit the advice by hovering over the tile to edit and selecting the pencil/edit button, there is also a section to enter a Summary.
Edit the Advice Document
You may 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.
