The latest enhancement to SMART, Netwealth's Sophisticated Modelling and Rebalancing Tool, enables you to generate and send a Record of Advice (ROA) proposal to individual clients prior to trades going to market.
Netwealth's Sophisticated Modelling and Rebalancing Tool (SMART) enables businesses to efficiently, accurately and cost-effectively implement and manage a variety of client assets and portfolios. Trading can be done on an individual account, or in bulk.
The latest enhancement to SMART enables you to generate and send a Record of Advice (ROA) proposal to individual clients prior to trades going to market. The ROA shows the breakdown and estimated CGT outcome of trades, along with any associated fees and costs, it also contains applicable managed fund investment research reports. The ROA can be customised with pre-defined text for selected rebalancing reasons, which then can be further updated using the text editor.
When submitting a rebalance where an ROA proposal has been generated for client approval, the system will pend the transaction for 7 days or until the ROA is accepted. Clients will receive notification of the proposal via text (or email if no mobile number is on file) to log into the Netwealth platform to view, approve or reject the proposal via ‘my tasks’ on their dashboard. Trades will be submitted upon approval of the proposal.
Image: Customisation of the ROA is possible with SMART
For clients who are unable to log in and accept the ROA on their dashboard, a PDF can be generated by the adviser which will contain a signature block for the client to sign. Once approval has been received by the adviser, the adviser can accept or reject the ROA online on behalf of the client and this will initiate the rebalance.
To access SMART ROAs on your dashboard navigate to SMART > Rebalance, and complete all the usual steps. The final step now allows you to execute the automated ROA proposal.
Other enhancements you may be interested in
- Enhancements to document upload, nominated bank accounts, reporting and more
- Enhancements to reporting, fee management and projecting managed accounts transfers
- Concessional contribution cap reporting, Zenith managed account models and more
- Trade a managed fund for multiple clients in a single transaction