Getting Started
Basic navigation | Add investment account information | Analyze your portfolios |
Test portfolio ideas | Planning for the future
1. BASIC NAVIGATION
Wealthscope’s navigation menu is underlined in yellow in the screenshot above. It separates Wealthscope’s features into three groups: Portfolios, Simulations, Planning (Premium edition), and Tools. The Updates tab informs you about new features and improvements.
2. See My Streamer Portfolios
Your Streamer portfolio data is automatically retrieved and populated in Wealthscope. Select a portfolio tab to see a portfolio dashboard. The dashboard displays your portfolio's asset allocation as well as select security data.
Please note that only the following securities will be analyzed: Canadian and U.S. stocks, Canadian and U.S. ETFs, Canadian mutual and segregated funds, and certain HISA funds. All other securities will be excluded from the analysis.
3. ANALYZE YOUR INVESTMENTS
You can generate the Wealthscope Portfolio Scorecard for all of your portfolios together in "My Streamer Portfolios → Overview ", for an individual portfolio, or for a specific grouping of portfolios. Click the Analyze button in the top right.
Don’t forget to check out the additional features in next to the Analyze button, including setting up a rebalancing system for an individual portfolio, or comparing to a “What-if” portfolio.
Portfolio Scorecard
Once you enter the Portfolio Scorecard, you will land on the Overview page. Here you will see a grade for the key portfolio dimensions: Performance, Downside Protection, Income, Fund Fees, Diversification (and ESG for Premium and Jubilee subscribers). To assess how sound your portfolio is, our analysis focuses on the current composition of your portfolio; the same holdings and weights will be used in the analysis.
Please note: Wealthscope does not have access to your past transactions. If you want to assess your personal historical performance, you should contact your broker.
Wealthscope uses a benchmark portfolio to evaluate your portfolio’s Performance and Downside Protection dimensions. The asset allocation of the benchmark is automatically selected based on the closest equity to fixed-income ratio of your portfolio (e.g. 70% equity, 30% fixed income). If your portfolio’s Performance and Downside Protection are in line with the benchmark, rather than outperforming it, they will receive a passing mark. Please also note:
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The analysis time frame in the scorecard is the longest common history of the holdings in an account, based on the inception/IPO dates of the holdings
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Fees in our analysis refer to fund fees (i.e. Management Expense Ratio), which may include a trailing commission for your advisor, depending on the share class. Your transaction fees are not included.
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Please check the ESG tab to understand if your portfolio holdings have sufficient ESG coverage before including ESG in your overall score in the Overview tab.
4. TEST A PORTFOLIO IDEA
In addition to analyzing your current investments, you can also test hypothetical portfolio ideas with our Portfolio Builders and see how they score. Navigate to:
Simulations → Create New
You may also save your portfolio to revisit later, or for use in other features such as our integrated Planning tools. The animation below shows how to save a portfolio.
5. PLAN FOR YOUR FUTURE
PRE-RETIREMENT PLANNING:
The portfolios you have previously analyzed and saved can be used to determine the necessary amount you will need to save in order to meet a future financial goal. (Think children’s education, down payment for a home, or retirement.)
Navigate to:
Planning → Accumulation → Target Saving
Or do you want to estimate the size of the nest egg you will need at retirement in order to finance your post-retirement lifestyle? Use one of our five model portfolios for your risk profile. Navigate to:
Planning → Accumulation → Target Wealth
The Retirement Blueprint is a comprehensive, user-friendly retirement planning tool for individuals or couples, tailored to their personal circumstances and investment preferences. Navigate to:
Planning → Accumulation → Retirement Blueprint (Premium edition)
You will receive a detailed summary of your blueprint and how much you need to save to achieve your retirement goals. Update the blueprint whenever there is a change in personal and/or financial circumstances.
POST-RETIREMENT PLANNING: (Premium edition)
For investors who are approaching or in retirement, there is a Decumulation section in Planning. Portfolio Longevity is a quick and cool tool to compare your life expectancy with the longevity of your savings. Navigate to:
Planning → Decumulation → Portfolio Longevity
To generate your detailed, tax-optimized drawdown plan, navigate to:
Planning → Decumulation → Optimal Drawdown or Optimal Drawdown with Target Spending
Make sure you read the introduction and the model assumptions before you enter your inputs. Optimal drawdown is for those who want to see how much they can afford to spend each year, after minimizing taxes. If there is a spending amount in mind already, use the Optimal Drawdown with Target Spending option instead.
Now that you have a handle on the main features, you are all set to try out the rest!
For a detailed description of all features, please download our Knowledge Base PDF.
A note about backfilled securities: some popular passive ETFs and CDRs have short history. Wealthscope has backfilled some of them for the purpose of portfolio analysis. See the full list here.
For any inquiries, please contact us at contact@wealthscope.ca.