Getting Started with the Wealthscope for Advisors
The Wealthscope for Advisors Pro edition helps financial advisors enhance their overall value proposition with robust tools for portfolio analysis and building to attract, engage, and retain clients.
There are two views: Advisor and Client. The top-right corner of the menu bar of tells you which view you’re in: when it is light blue, you are in Advisor view (with your name):
All four feature segments are available are available in Advisor view (for you to test drive ideas) and in Client view. In Client view, everything that you save is for that client only.
When it is navy blue, you are in Client view (with your client’s name). There will also be a yellow frame around the entire application as a reminder. Any information you save here is for this specific client.
Upon signing into the Wealthscope for Advisors, the landing page offers three points of entry:
"Advisor Dashboard": displays aggregated client information, as well as high-level summaries of individual clients.
"Client Management" is where you can create a family or access different clients.
"Add Client" is where you add new clients for analysis.
Once you have made your selection, there is a menu bar at the top of the application, denoting the four feature segments that you have access to: Accounts, Portfolios, Planning, and Tools.
On the left-hand side, you will notice these icons:
This is the Client Management icon. You can switch between clients here.
When you are viewing a client, this icon allows you to return to Advisor view, and will route you back to the Advisor Dashboard.
SET UP ACCOUNT INFORMATION
To track and analyze investment accounts for a client that you have added on Wealthscope, click the Account segment in the top navigation bar. There are two ways to add account information:
1. Automatically link all of your clients’ investment accounts with daily updates, powered by Wealthica. This option requires that your client has created Wealthica account prior and has aggregated their investment accounts on Wealthica's site. You will need to enter your client's Wealthica login credentials in this workflow.
2. Manually input account information.
Please note that only the following securities will be analyzed: Canadian and U.S. stocks, Canadian and U.S. ETFs, and Canadian mutual funds. All other securities will be excluded from the analysis.
ANALYZE YOUR CLIENT'S PORTFOLIOS
To receive your client's Portfolio Scorecard, click an account to view, and then click the "Analyze" button in the upper right. You can analyze an individual account, a specific group of accounts, or all of a client's accounts together in "Accounts Overview".
Your will be taken to an Overview page and see an overall grade as well as a grade for each of 5 important portfolio dimensions: performance, downside protection, income, fund fees, and diversification. The analysis is based on the current composition of your client's portfolio, so as to assess how sound their existing portfolio is. That means we use the same holdings and the same weights in the analysis.
The portfolio is evaluated against a benchmark that is automatically assigned based on the closest equity-to-fixed income ratio of your portfolio, e.g., 70% equity 30% fixed income. This benchmark serves as a reference point in scoring the performance and the downside dimensions in the scorecard. If the portfolio is just matching the benchmark, rather than outperforming it, it will receive a passing mark of 65%.
Save your clients' portfolios so they can be used for the Compare function within a Portfolio Scorecard (the "Scale" icon on the left of the Scorecard), or for simulations in the Planning segment. Click the "File" icon on the left of the Scorecard to save.
TEST PORTFOLIO IDEAS AND SAVE MODEL PORTFOLIOS
The "Portfolios" segment in the top menu bar is where we offer three different Portfolio Builders and the ability for you to designate saved portfolios as model portfolios. You can then compare different portfolio ideas to your models and use them in the Planning segment for simulations.
Portfolios >> Create a new portfolio
1. In Advisor view, create a portfolio using any one of our three Portfolios Builders.
2. Save the portfolio you created by selecting the Save icon on the left-hand side panel of the Wealthscope Portfolio Scorecard.
3. To designate a saved portfolio as a model, go to Portfolios >> Revisit a Saved Portfolio and toggle it as a Model.
Note: this function is only available in Advisor view.
CREATE RETIREMENT PLANS FOR YOUR CLIENTS
For pre-retirement clients: Create a comprehensive and intuitive Retirement Blueprint for your clients and/or their spouse.
Planning >> Accumulation >> Retirement Blueprint
Determine the level of wealth required at retirement to meet lifestyle needs.
Then calculate the necessary monthly savings required to meet the target wealth at retirement.
You can select portfolios your client will be investing in pre- and post-retirement. Choose from any portfolios saved for the client in question or use designated Advisor model portfolios.
For retired clients: Create a drawdown plan to see how much a retiree can afford to spend each year with actual savings and retirement income, and from which sources, when taxes are minimized.
Planning >> Decumulation >> Drawdown plan
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 User Guide PDF.
For any inquiries, please contact us at firstname.lastname@example.org.