Major Xplan Product Upgrade 310 | Centrepoint Alliance Technology Solutions

While our regular patches are weekly, a significant update from Iress is on the horizon. Both Compass and CWT are gearing up for an upgrade scheduled for the 23rd of February.

This awaited update brings forth several changes that many have been eagerly anticipating. Among these are the introduction of Xtools Investment Bonds and HEAS functionalities, addressing longstanding needs within our system. Additionally, notable alterations include a revamped grouping of SMAs and an uplifting overhaul of Analytics screens, promising enhanced user experiences and functionalities. Let's delve into a summary of these exciting changes and further details can be found on the Iress Community.

1. Client Focus | Document Note Options Tab

The tab has been renamed to Workflows.
The title of the first section has been relabeled to Thread/Case Templates and the help text updated.
The Thread Template field name has been removed.
The Thread/Case Template field now becomes uneditable after the first time the note has been saved. This is because the template selected in the field can only be activated on the initial note save and has no impact on subsequent note saves.
The title of the second section has been relabeled to Current Cases and the help text updated.

2. Portfolio | SMA in Analytics (Replacing IPS Performance)

Analytics Feature Enhancement: SMA Grouping
- The Detail, Attribution, and Contribution Analytics screens now support a new feature called "Group by SMA."
- When selecting a grouping option that provides security level detailed results, a checkbox labeled as “Group by SMA” appears, allowing grouping under Direct Investments or SMA Underlying Constituents.
- Various updates have been made to support this feature, including adding support for Underlying Constituent Securities in Contribution Charts and integrating SMA Grouping into different analytics screens.
- Refer to the Screen Options >> Grouping section of the Detail, Attribution, and Contribution Community articles for more details.

Analytics Feature Enhancement: Analytics tab visibility for permissioned users
- Users will now only see tabs in Analytics screens for which they have access.
- This ensures that tabs for screens not permissioned to the user will no longer display, enhancing user experience.
- The enhancement to hide restricted tabs for non-permissioned users will be available alongside Xplan version 24.2.309.

New Feature: Classic InFocus Analytics Uplift
- The existing inFocus Analytics screens are being replaced with new, improved Analytics screens, accessed through a single “Analytics” menu item.
- This uplift includes swapping the legacy classic screens and their associated menu options, with various analytics screens available through tabs once accessed.
- Refer to the Classic InFocus Analytics Uplift Community announcement for more information.
Additional Updates
- Various updates have been implemented, such as adding Entity Selector to different screens, updating navigation, and aligning actions to specific journeys.
- These updates ensure a seamless transition to the new Analytics screens and enhance functionality.

Note:

When adjusting search criteria, use the calculate button to retrieve data and display relevant results.
Be aware of the differences between legacy Classic Analytics Journey Xplan screens and the new Analytics Journey Xplan screens regarding date settings and inclusion/exclusion of unmanaged positions.

3. XTOOLS+ | Modelling Investment Bonds | Updated!

XTOOLS+ Modelling Capabilities:
- Advisers can now utilise Xtools+ modelling to address various scenarios related to investment bonds, such as funding early retirement, tax implications compared to managed funds, and strategies to optimise tax and healthcare benefits.
- The modelling feature allows projection of balances for up to 20 Investment Bonds across different structures like Client, Partner, Joint, Trust, and Company, considering fees, internal tax, and franking credits.
- Funeral Bonds can be modelled to qualify for exemptions from Income Support Asset and Income Tests, providing additional financial planning options.
- Users can model ongoing and/or irregular contributions and withdrawals, with automatic tracking of tax outcomes and social security impacts.
- Results from the investment bond modelling can be seamlessly merged into advice documents using Xmerge paths.

Xtools+ Foundation Reinforcements

New Projection Start Date Structure:
- Projection start dates now support starting part-way through a financial year, enhancing flexibility in scenario planning.
- Key dates and special dates are intelligently managed, ensuring consistency in projections even after adjustments.
- Irregular transactions are now more accessible and flexible, allowing users to tweak projections from both input and display screens with ease.

More Home Equity Access Scheme (HEAS) Functionality

HEAS Summary Tables for Advice Documents:
- Summary tables for Home Equity Access Scheme recommendations and results are now available for viewing and merging into advice documents, facilitating clearer communication of financial strategies.
- Repayment of HEAS loans can be modelled in present or future value, with options to set repayment dates and track loan limits.
- Fine-tuning enhancements include automatic cessation of loan draw-downs upon reaching the maximum loan amount and improved treatment of initial fees.

Smoother Super Contribution Modelling and Easier Tax Experimentation

Adjusting Pre-Tax Super Contributions:
- Enhanced capabilities allow easy adjustment of salary sacrifice and personal concessional contributions directly from the Taxation Display screen, with a comprehensive Super Contributions Summary pop-up.
- Automated calculations now reflect changing salaries when starting projections partway through a financial year or when clients have work transitions.
- Year-to-date modelling is streamlined, particularly for clients switching from post-tax to pre-tax member contributions, ensuring accurate calculations and smoother scenario planning.

Notes: As there are many enhancements to the Xtools+ charts, visuals and new tables. We are looking to making this more available on both Compass and CWT Wizards.