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Overview

The Income Stream strategy in AdviserLogic’s Digital Advice module helps you create a compliant, tailored recommendation when the client is moving from a superannuation accumulation phase into retirement and commencing an income stream (for example, an account-based pension or transition-to-retirement income stream).

This strategy guides you through rolling super into the appropriate pension structure, setting investment allocations, and preparing all required advice documentation within the Digital Advice builder.

Superannuation income streams are a key part of retirement planning, enabling clients to draw periodic payments from their super assets to support retirement lifestyle and ongoing cash flow needs.

Income Streams Strategy Guide

Please follow the step-by-step instructions below for preparing advice for a Super Rollover strategy.

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 Income Streams strategy from the Strategy screen, then select Proceed, Link the Goals or skip this step.

Choose the condition of release for the client from the available options.

📌Note

Select the client first and then partner, once selected it can not be changed to another option, you will need to create a new scenario in this instance.

Roll Released Funds into a Pension or Super account.

Once in the strategy, you will see the client's name in the top left of the scenario screen. For joint client scenarios, you will see both the client and partner names and their existing superannuation funds entered from the fact find.

In AdviserLogic, the primary client is dominant, so the advice will commence on this client. Select the partner name to complete the advice for the partner.

Navigation

Along the top left of the screen, you will also see the strategy sections to complete. These are set out in the order they need to be completed and are not interchangeable. Once you have entered values to these, you may jump to each section to review or make changes, however.

The first of these sections always represents the strategy you are currently on - this is especially notable in scenarios with multiple strategies selected.

If you need to add or remove strategies from your advice, use this panel to travel to the Home - strategy selection page by selecting Home from the dropdown.

Selecting funds to rollover

You may choose to do a Complete or Partial Rollover by selecting the appropriate buttons.

Complete Rollover

The selection will change to blue, and the value will be displayed immediately beneath this section.

📌Note

Where a client has a super-linked or linked insurance product, a warning will be generated. An insurance strategy may need to be added to the scenario to account for this.

The options to roll funds on the right side of the screen are limited to pension funds only. It is not possible to contribute to an existing pension fund.

However, you can roll an existing pension fund back to super accumulation, contribute funds to it, and then use Income Streams to roll into the new pension fund.

When transferring the underlying assets, it is assumed that these assets will be transferred to the pension fund without any buy/sell costs.

Pension Details

The Pension Details are visible and amendable from the Pension Details page. Age and purchase price details are prefilled from Fact Find data, as is the rollover amount. While the minimum and maximum pension amounts are based on the calculations done on the rollover amount and the client's age.

The Recommended Pension field will contain the minimum pension amount by default. This field is editable.

Pension Payment – Assessable and Pension Payment - Tax Rebate are editable fields and do not have any pre-filled values.

Once all values are correct, select Proceed to Investment Portfolio

Partial rollover

Selecting the Partial Rollover option will open a window showing the client's underlying investment assets. Enter the values for the funds to be redeemed and select Save. The total redeemable amount will show in the top right of the window.

Recommending the New Fund

Once the type of Rollover has been established, you will be required to select the fund to roll the balance into, this can be achieved in several ways.

Default - If you have set up default funds in Digital Advice settings, these will be shown here and any rollover amount will be defaulted to the applicable fund.
Existing - This will show all the client's current funds to allow you to complete a consolidation strategy.
New Funds - A full list of funds, including industry, to select from. Start typing the fund name, the list will dynamically update to show relevant search results. Alternatively, scroll through the list.

Once the new fund is chosen, select the Proceed to Investment Portfolio button on the bottom right of the screen.

Super Investment Portfolio Screen

Moving from left to right, the first panel shows the Recommended and Existing Super funds for the Client and Partner. Select any of these to change the underlying investment assets for that fund. The selected fund will be highlighted in blue.

The middle panel shows the underlying investment for the selected fund, you may add or edit, the existing and/or recommended investments for each fund in this section.

To Add underlying investments select the blue plus button from the top left of the section or select Model Portfolios/SMA to select from a drop-down list of these instead.

Having entered the new investments, these may be modified by selecting the Recommended, Transaction, or Proportion cells. This allows you to make changes to dollar or percentage amounts.

When all funds are allocated, the blue plus icon disappears. Changing any investment to a smaller amount will make funds available again, and the option will reappear. The total amount, available amount and recommended amount will show at the top of the underlying investment section.

100% of the funds must be allocated to proceed. Once the underlying investments have been entered, select Save under the Underlying Investment list.

The right panel shows the client's strategic risk profile as previously entered into their Fact Find.

Once the underlying investments have been added, the Asset Allocation graph will update to show the recommended investments against the strategic risk profile.

Having made the changes, select Proceed to Research from the bottom right navigation button.

Super Research

The research screen allows comparisons across a client's existing and recommended funds on qualitative data including contribution types, services, fund status, pension details, investment options, and other fund details.

Add alternative funds to compare by selecting the New Funds icon. A column on the right will show. Search and select the comparison fund from the drop-down.

📌Note

Multiple comparison funds can be added.

Hovering over each fund name will open the option to download the fund's Product Disclosure Statement (PDS)

Having completed the feature comparison section, select Proceed to Fees.

Super Fees - Compare using Existing Balances

The first screen compares existing funds and fees - shown on the right in the green section - to the recommended funds - shown in blue, on the left of the screen.

This screen shows what the client is currently paying compared to what they will be paying after implementing the recommendations.

To add previously entered, or new Justifications, select the Add Justifications button to make the selection.

To skip this step select Proceed to Review.

Review

Here you can review all your recommendations, prior to proceeding to the disclosure fees section to add your fees and finish your advice.

Fee Disclosure

Choose, set or edit previously entered Fee structures that apply to the client. You may also manually enter fees that apply to the advice.

Select Finish Advice. You will be directed back to the scenarios screen where you may download the advice document by selecting the download button on your completed scenario card.