Xplan Client File Procedures

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Xplan Client File Procedures

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Introduction

This guide has been developed to meet the needs of RI Advice Group advisers in maintaining client files in Xplan. It should be read in conjunction with the RI Document Management Policy.

The procedures outlined below will minimise time taken to maintain files electronically and will provide a uniform Best Practice approach across practices.

Most practices utilise dividers for their hard copy client files, where the client file is divided into sections and information is usually retained chronologically. We will visualise Xplan in the same way and consider its different sections or subsections as its „online file dividers‟.

Note: This guide assumes working knowledge of Xplan. You should refer to all resources available such as Xplan Help, Online Training Program, Adviser Systems and Trainers.

Electronic storage of advice process documentation

Accessing the client on Xplan

Client Search (Existing)

Searching for a client in Xplan using the search function in the upper right hand corner, is the equivalent of searching your filing cabinet for a file.

Creating a new client

A new entity (Individual, Company, Partnership, Trust or Superfund) needs to be created before storing any client information in Xplan.

Storing client records in Xplan

Financial Services and Credit Guide (FSG)

Advisers are required to record the version of the FSG or Supplementary FSG (where applicable) provided to the client. Saving the information in this section, will enable the information to flow through to the relevant fields in the Fact Find, SoA and RoA.

To capture this information, go to Client > Admin > FSG > edit and then select the version number of the FSG provided. After editing, select Save.

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Anti-Money Laundering / Counter Terrorism Financing (AML/CTF)

When providing a „designated service‟ to a client (please refer to RI Adviser Services for RI‟s

AML/CTF policy and operating guidelines, advisers are required to meet identification and verification requirements.

To capture these requirements in Xplan, go to Key Details > AML Check.

In this section, advisers are able to upload scanned identification documents, complete the required information (FPA/IFSA form) relating to the verification of the ID gathered and insert an expiry date on the main screen for future reference.

To upload a scanned copy of the ID, select the green „plus sign‟ next to the relevant ID document and complete the required information.

By selecting OK, (after attaching the relevant document), you will notice that the available

documents become highlighted in yellow. A paperclip appears where a file has been attached. This file would generally be a scanned copy of the primary or secondary ID document(s).

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To download the IFSA/FPA form, you need to select the “download form” option as shown.

Completing the IFSA/FPA form is a RI professional standards requirement. If a Fund Manager requires you to complete their AML forms, you must oblige them, however you still need to complete the IFSA/FPA form.

The “File Note” tab

All of the documents related to the next few sections are saved under Client > Admin > file note section in Xplan. The title “File note” is slightly misleading as Advisers will store more than file notes in this section.

Within the File Note section, each „Type‟ of file note eg. Fact Find, Correspondence, Applications, Advice Documents etc is similar to sections one would use in a paper file.

When adding information in these sections, it is important to distinguish whether the information relates to the client, partner or both. Prior to saving any information, ensure the name is correct. The following table provides a summary of the best practice approach to creating file note types and storing the relevant documents for that file note type.

Xplan File Note Types Types of Documents stored and Recommended Naming convention

Client Correspondence Client Correspondence (to and from the client) Emails

Meeting/Interview Notes

Third Party Authority Letters & Questionnaires Marketing

Seminar Invites Phone calls

Fact Find Any Approved Fact Find document (Current or new advice process) Letter of Engagement

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Advice Document SOA/ROA/SOT Fund Profiles ATO correspondence

Adviser Notes to the Paraplanner Signed Declarations eg. ATPs

Applications

(sometimes a copy is saved under task attachments)

Copy of Applications

Copy of all other forms submitted Insurance Quotations

Fund Manager Correspondence

o Confirmation of Switches / Withdrawals o Confirmation of Add Investments o Confirmation of Change of Adviser o Confirmation of Binding Nominations o Confirmation of Change of Details Centrelink Schedules

Client Fund Manager Statements Review Signed Client Service Agreements

Annual Review Invitation Letters Annual Review Questionnaires

Snapshot Reports or Annual Review Reports OGS statements

Original Document POA

Wills Trust Deeds

Invoices Invoices and Receipts

File Notes Any other manual file notes regarding client contact.

Example on how to create file note types in Xplan

For example, when storing an SoA, ensure the Note Type (divider name) is Advice and type the Subject in a recognizable format. For this example, we have called it a „Statement of Advice‟. You should also include the SoA date in the file name. eg. 14.03.2012 SoA

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For the purpose of this guide, Fact Find means Personal Financial Profile (PFP), Risk Fact Find, Core and Modules for the new advice process and any other RI approved data collection forms. The Fact Find is generally completed through wizards. This section replicates a hard copy Fact Find for the different types of entities. Generally, advisers or support staff will either enter the details gathered in Xplan as they go through the interview process, or complete a hard copy Fact Find to be entered into Xplan at a later date.

From a time management perspective, if the office technology supports it, it would be easier to complete the Fact Find online with the client and generate a reverse fact find at the end of the process, as this removes double handing of data.

Current Advice Process

Go to Client > Wizards > Complete PFP to enter all relevant data. At the end of the wizard, the options to generate a copy of the data entered into Xplan can be generated by selecting the RI Branded PFP, or White Label PFP options depending on the branding your practice uses.

New Advice Process

Go to Client > New Advice Wizards and complete the wizards for the Core and the relevant Modules. Again, at the end of each wizard, the options are available to generate a document reflecting the information entered by selecting “Generate Fact Find”.

Note

Generating a “Reverse Fact Find” using the above methods will automatically save a copy in the File Note section under Fact Find subfolder.

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At a client review, advisers have two options available:

Advisers can enter updated client information directly into Xplan while the client is present and generate a reverse fact find reflecting the updated information.

Or

Advisers can pre-generate a reverse Fact Find and manually update the paper copy with any changes disclosed by the client. The information is then given to the support staff to enter in Xplan and generate an updated reverse Fact Find.

Letter of Engagement (LOE)

The completed and signed LoE should be uploaded and stored in the file note section of Xplan. Current Advice Process:

The LoE is part of the Fact Find and can be generated as part of the PFP wizard or merge report (RI Advice – Quick Merge Templates)

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New Advice Process

The LoE is generated separately from the Fact find and is located under client > New Advice Wizards > Letters (LOE, SOT, Admin)

Advice Documents

Advice Documents (SoA and RoA) can be stored in a number of ways depending on Adviser/Practice preferences.

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In a hard copy file, they would generally all be stored under the same divider. In Xplan, Advisers have the ability to either store Advice Documents in the one folder or split the Documents based on type ie. SoA or RoA.

We recommend SoTs and Basic Deposit Letters also be stored in one of the two formats described above.

All the above documents should be stored in chronological order. One File Note (folder) option

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Note: The advice document section, whether combined or split, should contain all the information Advisers have provided to the client including all research notes and fund Profiles if applicable.

Declaration & Consent Page or Authority to Proceed (ATP)

It is a requirement to store all signed ATPs. They can be saved as part of the same advice file note folder or split into a separate file note folder called ATP as shown above.

Applications and Confirmations

This File Note should contain copies of all lodged electronic and hard copy applications lodged as well as confirmation notes from fund managers/life offices:

The types of applications include:

New policies (risk or investments) Top up applications

Redemptions Switches

Your naming convention is up to you, however, it is important to ensure that the Subject selected is something that makes sense and is consistent across your Xplan database.

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For the example above, you can see all information relevant to that transaction in one folder ie In the application folder, copy of the application form and confirmation is stored in one folder.

Reviews

Most clients will fall under a review process and will therefore receive Snapshot Reports or OGS Reports and market commentary etc on a periodical basis. Advisers can create a divider/Type for this section titled “Review”. In this section, it is advisable you store all information relevant to the Ongoing Review Process.

File Note

File notes in their true form should also have a section. This folder should contain scanned copies of hand written file notes, voice recognition files and typed up notes as shown below. The suggested naming convention for file notes should include the date event occurred and topic.

1. Adviser entering file note directly into Xplan

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Emails and Imap

Sending Emails

Emails can be sent from either Outlook or directly from Xplan.

When sending an email from Outlook to a client, you must save a copy of the outgoing email and response as a file note into Xplan. This is done by saving the email as an “.oft” or “.rtf”. For any assistance on Outlook formats, please refer to MS Outlook help.

When the email is sent from Xplan to a client, a copy will be automatically saved as a file note against the relevant client‟s name.

Bulk emails

Bulk emails can also be sent through Xplan. Go to Client List > Email

While writing an email in the email editor: 1. Select the Miscellaneous tab.

2. Tick Add Note: Add email to entity note.

3. Select the Note Type and Note Permission to control the email note's category and who can access it.

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IMAP Integration

IMAP is an Outlook (2003-2007) facility which allows you to efficiently store incoming emails in the relevant client file in Xplan. For instructions on how to set up IMAP, please contact Iress (Xplan) on 1300 1300 69 or go to Xplan help.

Important notes

Copying large numbers of emails, or emails with large attachments, can take significant time depending on the upload speed of your connection;

Email replies should not be created from the Xplan email copy, but from the originally received emails. Ensure when sending that the correct Outlook account is being used. Client entity names in Xplan cannot contain the '%' character otherwise the email will not be accepted

Once you have setup IMAP connectivity, you can import emails into Xplan. This process is as simple as dragging an email from your email Inbox into a client IMAP folder.

Additional options within Xplan

The purpose of this section is to outline the various functionality that are available within Xplan to support the paperless office philosophy.

The modules below are standard tools practices are familiar with. If you require any help, please email [email protected] or access Xplan help.

Tasks, threads, Diary and Campaigns

You can add a note, task, thread, diary event or campaign entry against a client in Xplan – the system will store this record against the client.

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Xmerge outputs

Xmerge merge reports allow you to save client communications as client notes.

You have the ability to create your own word documents utilising Xplan coding and uploading as a template. This is called an Xmerge template and can be generated against a single client or many clients in one action. When using the template with a client you can automatically save a copy of the output as a note. This will save time and resources as you will not have to scan and upload the document once sent to the client.

When running an Xmerge template:

1. Tick the option Add merge result as document note. 2. Enter a Subject for the note.

3. Select the Note Type and Note Permission to control the email note's category and who can access it.

4. Merge the Xmerge template by selecting Execute.

If you would like the template to be hard coded to save as a note (without the option to tick Add Merge result as document note) you can set this up against the XMerge template from the outset. This will prevent anyone from forgetting to tick the option to Add Merge result as document note. When creating an Xmerge template:

1. Select Templates from the home page (under Administration functions). 2. Select your practice Folder (click on the yellow folder next to the name). 3. Select the document

4. Select Key Details > Main

5. Edit the folder and tick the option to Add to Note = Yes 6. Enter the Note Type and Note Subject

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Looking up detailed File notes and Attachments 1. Select your client in Xplan.

2. Select Admin > File Note in the navigation menu. A list of existing notes displays.

3. You can filter further on the Type, date or subject by selecting the arrows.

4. Click on the file note you wish to query.

5. To open an attachment, select the Attachments tab then double click on the attachment to open the document.

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Add File notes & Attachments 1. Select your client in Xplan.

2. Select Admin > File Note in the navigation menu.

3. Under Type, select the correct category for your file note (see definitions above)

Summary tab

Type - the type of note is used to classify notes for filtering.

Permissions - controls who can view the note. This is defaulted to “Shared with my groups”. Date - sets the date of the note

Subject - the note's subject Attachments tab

Click on Attachments tab to attach a file to the file note:

1. Click Browse to select a file to attach to the note.

2. Click + to upload and attach the file. Enter Note

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3. Repeat for all attachments, if there are multiple documents

4. Click on Save to save the attachment/s to the file note.

Related tab

A note can be associated with more than one customer or user. Additional entities can be added here.

Xplan Client File Procedures