Custom Plans in WealthSolver

Overview

The Create Custom Plan module allows you to set up a plan from scratch for the purposes of adding plans in WealthSolver to model that otherwise may not be included, such as property or bank accounts.

NOTE: You must have the WealthSolver module to complete these steps.

Create custom plan

Navigate to > WealthSolver > Tools > Create custom plan.

Amend the Plan Type to Investment Platform.

Only the highlighted fields are required to complete the set up. Enter the plan name in the Plan Manager field and this will copy to the Plan Name and Sort Name.

Once finished, click Save.

Upon clicking Save, set the visibility so other users in your practice can also view this plan.

Click Edit > Edit Visibility, then on the next page > Tick Group Visibility, tick Your Practice Name and Save. If there are any fees to add, you can do so via Edit Fees.

 

Adding Custom Plan in WealthSolver Scenario

Below is an example of how an Asset can be pulled through into WealthSolver, the Type of the Asset being “Other” can be changed to Investment to allow for more accurate comparisons, if needed.

Take note of the amount, and if there are multiple underlying investments, click on the account name (Liquid Assets - Cash on Hand) and take note of the investment allocation.

To add in the Custom Plan, under the Current Situation heading, click on Add Existing > Select the appropriate entity > Investment Platform

On the next page, search for the plan name you created and Select Investment Platform

Add the Investment/s by clicking Add Investment

  1. Change to Manual Fund Entry
  2. Enter Investment Name
  3. Code is cash
  4. Enter the appropriate Asset Allocation percentages
  5. If only one investment option is being added, go to Step 6, otherwise, Click Add and repeat steps 1-4 for remaining Investments and they will appear in the Selected Investments section
  6. Once all Investments are added click Add Investments

You will then be taken back to the Edit Existing Plan page:

  1. Enter the amount for each Investment
  2. (Optional but Recommended) Click on à Rename Plan
  3. Rename plan and click OK
  4. Save

Once back in the Current Situation page, remove the original “Other” Investment type.