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.
When adding a Custom Product as an asset in the client's Assets screen ensure the custom product has at least 1 dollar added as the unit value then 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. If it is a Superannuation entity, ensure the custom product is linked to the appropriate Super section in the client’s profile. This linkage is crucial for accurate record-keeping in AdviserLogic.
When creating a new structured product, the following fields must be completed before saving:
Product Name
Ticker
Investment Date
⚠️ Note on Unit Price: This field is not compulsory. However, leaving it blank will result in a zero balance appearing in the client’s Asset screen. For accurate reporting, we recommend entering a Unit Price where possible.
Product Information
Product Type | Defines the category of product (e.g. Structured, Managed Fund, etc.). |
Product Name | The name of the product being set up (required field). |
Ticker | The code identifying the product on an exchange or internal system. |
Exchange Code | The code of the exchange where the product is listed (if applicable). |
Investment Date | The date the investment is made effective. |
Platform | The platform through which the product is offered. |
Product Description | Free-text description of the product. |
Unit Prices / Price Date / Price | Used to enter and display unit prices for the product along with the date they apply. |
Structured Product Details
Capital Protection (%) | Percentage of capital protected in the structured product. |
Protected Cost Per Year (%) | Annual cost of maintaining the capital protection. |
Setup Fee (%) | Percentage fee charged at the outset of the investment. |
Investment Term (Years) | Duration of the investment in years. |
Investment Loan
Available Loan (% of investment) | Percentage of the investment value available for borrowing. |
Interest Rate (%) | Loan interest rate applied. |
Loan Term Start | Start date of the loan. |
Loan Type | Specifies repayment structure (e.g. Principal & Interest, Interest Only). |
P & I Loan Term (Years) | Duration of the Principal & Interest loan in years. |
Interest Only Loan Term (Years) | Duration of an Interest-Only loan in years. |
Interest Assistance Loan (IAL)
IAL Loan Type | Repayment structure for interest assistance loan. |
IAL Loan Interest Rate (%) | Interest rate applied to the Interest Assistance Loan. |
IAL Term (Years) | Duration of the Interest Assistance Loan. |
Projected Returns
Income (%) | Expected income return percentage. |
Growth (%) | Expected capital growth percentage. |
Taxation of Income Return
Tax Free (%) | Portion of income that is tax-free. |
Tax Deferred (%) | Portion of income where tax is deferred. |
Franked Income (%) | Portion of income eligible for franking credits. |
Commission Information
Upfront Commission (%) | Percentage commission received upfront. |
Ongoing Commission (%) | Percentage commission received on an ongoing basis. |
Investment Fees and Cost (%) | Total percentage of fees and costs applied to the investment. |
Asset Allocation
Cash (%) | Portion of the investment allocated to cash. |
International Shares (%) | Portion allocated to international shares. |
International Fixed Interest (%) | Portion allocated to international fixed interest. |
Fixed Interest (%) | Portion allocated to fixed interest securities. |
Australian Shares (%) | Portion allocated to Australian shares. |
Listed Property (%) | Portion allocated to listed property. |
Direct Property (%) | Portion allocated to direct property holdings. |
Other (%) | Portion allocated to other asset types. |
International Property (%) | Portion allocated to international property holdings. |
Save
Field | Description |
Save | Saves all entered details and finalises the product setup. |
⚠️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. |
Link Custom Products to Client Profiles | Use the Assets & Liabilities > Add > Custom Products menu to attach a custom product, ensuring alignment with the owner as the client, the client's partner, or the client’s designated Superannuation/ SMSF/ Trust entity |
Specific Guidelines
For Macquarie
Select the Platform | Once the owner is assigned, a dropdown menu for selecting the platform (e.g, Macquarie) will become available. Ensure 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 not to 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