Custom Products in Morningstar AdviserLogic
Custom Products enable you to personalise financial offerings to meet your clients' specific needs. These products are especially useful for obscure portfolios, unavailable SMA's, or when you consistently recommend a set of investments. By creating and managing custom products, you can tailor investment strategies, insurance solutions, and other financial services to perfectly align with your client's goals and preferences. This flexibility will enhance your ability to provide precise advice and maintain a competitive edge in your practice.
Some providers, such as Mercer Smartpath, may not share data with AdviserLogic, making it necessary to manage them as manual entries.
How to Set up Custom Product
To set up a custom Product navigate to Tools > Product Setup > Custom Products
📌Note
Different types of custom products can be set up, including investment options and non-super platforms. Some platforms, like BGL, list non-indexed investments, such as property or stamp collections, as custom products.
Add a Custom Product Asset by entering the required details.
When completing the custom product setup, ensure to assign an owner category (e.g., Client, Partner, Joint, Superannuation entity) as a required step before selecting any platform. Missing this step can result in improper visibility on platforms.
⚠️Product Type should remain set to Structured
The Ref. Code is entirely up to you - choose something unique as an identifier.
Product Name is what shows as the description when you add this to a client.
Under Unit Price, you should always add at least one entry. If you don't have specific information about the unit price for this holding, just give it a $1 unit price in order to function properly when used.
The other fields are all optional - we recommend entering as much detail as you can, however, it is not mandatory.
Enter the asset allocation - This asset allocation will pull through to Digital Advice Asset allocation screens
Importance of Unit Price for Platform Integration
Custom products designed for integration with platforms like Digital Advice require a unit price entry. Ensure its inclusion to avoid display issues in Digital Advice.
Make sure you Save at the bottom right, when you're done.
Troubleshooting Custom Product Visibility
When custom products are not appearing where expected on AdviserLogic, it can disrupt workflows. This guide explains how to troubleshoot visibility issues and ensure custom products are correctly set up and displayed on relevant platforms, such as Macquarie and Digital Advice.
General Troubleshooting Steps
Create the Custom Product in the Right Location | Confirm that you have fully created the custom product in |
Assign an Owner | When setting up the custom product, ensure you assign the owner correctly - whether it’s a Client, Partner, Joint, or a Superannuation entity. This step is mandatory before selecting a platform. |
Fill in Required Details | Make sure all fields, such as Product Type, Reference Code, and Product Name, are completed as these are essential for the product to integrate correctly. |
Include a Unit Price | For products intended to appear in Digital Advice, a unit price must be provided within the product’s setup details. |
Specific Guidelines
For Macquarie
Select the Platform | Once the owner is assigned, a dropdown menu for selecting the platform (Macquarie) will become available. Make sure the correct platform is selected. |
Check Platform-Specific Details | If the issue persists even after following all steps, review the custom product setup for any platform-specific requirements that might be missing. |
For Digital Advice
Unit Price Requirement: Confirm that the product setup includes a unit price. A missing unit price is a common reason for a custom product to not appear in Digital Advice.
Additional Support
If you have followed all the above steps and still face issues with custom product visibility, it may be helpful to:
Revisit the product setup configuration to identify any overlooked details.
Check with the AdviserLogic support team to see if there are ongoing platform issues or advanced settings needing adjustment.
📌Note
The Ref. Code is entirely up to you - choose something unique as an identifier.
Product Name is what shows as the description when you add this to a client.
Under Unit Price, you should always add at least one entry. If you don't have specific information about the unit price for this holding, just give it a $1 unit price in order to function properly when used.
The other fields are all optional - we recommend entering as much detail as you can, however, it is not mandatory.
Enter the asset allocation - This asset allocation will pull through to Digital Advice Asset allocation screens