5 Things you wish you knew about XPLAN sooner
Colleen Tree, Senior Product Owner
Are you someone who reads the manual for your new car or that new kitchen appliance? The answer is probably ‘no’ for most people. Chances are, you may never learn the full capabilities of your latest purchase.
Advice software is no different.
You could be missing out on some of the key features or benefits you already have access to. Or worse, you buy more technology to fill a gap you think you have.
We hear from clients all the time ‘we didn’t know XPLAN could do that’, or ‘we wish we’d known sooner that was a feature’.
So we thought it was time to talk about some of the key features all XPLAN users should know about and be using extensively.
Let’s go through our top 5 features.
1. Search for clients without using their name
Did you know that you can search for your clients without even using their names?
Maybe you missed a phone call, or possibly couldn’t remember a client’s last name. An easy fix, you can search for clients based on other key information recorded in XPLAN - including telephone numbers.
Instead of searching for the client’s name, simply type in ‘tel:’ followed by the missed phone number and the client’s profile will appear.
You also have the ability to search for clients with a particular postcode ‘pcode:’ followed by the relevant postcode, an email address ‘em:’ followed by the email address, or a portfolio account ‘ips:’ followed by the account number.
Some simple ways to find a client in a hurry within XPLAN, if you don’t have their full name.
2. Update notes in bulk
Have you ever sent out a bulk email to hundreds of clients but put in the wrong file note type and subtype? It happens more than you think.
Well, file note types and subtypes within XPLAN can be updated in bulk.
If you navigate to Hubs > Notes and Documents and filter your search, by the current type and subtype, you can select the notes you want to amend. Then you just need to click the drop-down menu to the left of one and select the ‘Change Type/Subtype’ and this will make the adjustment to all selected file notes.
Using this feature has now saved your team time and the communication is now correctly classified within XPLAN.
3. Partner option missing from the Risk Researcher Needs Analysis
Did you know if your client and partner are not set as ‘married’ or ‘de facto’ in Client Focus, the partner will be missing from the Risk Researcher Needs Analysis?
It often becomes obvious when you start searching for the partner needs analysis in Risk Researcher and they just aren’t appearing. Luckily, we have a simple fix for you.
You need to navigate to the Key Details area of the client profile in question and update the marital status to Married or Defacto. However, the change you have just made in Client Focus will not automatically flow through to Risk Researcher. You need to remember to create a new scenario when you’re in Risk Researcher, as the module is scenario-based and will only reflect what the situation was at a point in time.
No more missing client information due to missing data.
4. Attributing superannuation insurance premiums
If you’re looking at the cash flow area of your client’s profile, are you expecting to see insurance premiums there as an expense? We didn’t think so.
The issue is, that superannuation insurance premiums need to be attributed to the super fund as the premium payer, or they will appear as an expense in the client’s cash flow.
This is often a frustration point for XPLAN users, where insurance premiums for super owned and paid policies, are showing up as an expense in the client’s cash flow.
When initially creating the insurance policy, you can specify if the payer of the premium is the policy owner and if it is not, you can specify a third party, or the client’s super fund.
Just another way to make sure information is appearing correctly within XPLAN and reducing the need for additional work for your team.
5. Getting adviser details to appear on quotes
A common question we get is ‘why don't my details appear on quotes generated by Risk Researcher's Premium Validation?’
Quotes generated by Risk Researcher's Premium Validation feature will include the details of the adviser whose credentials appear within the Risk Researcher system settings. These credentials are also used with the ‘quote and apply’ functionality to facilitate the application process.
A simple fix. Head to the Settings menu within Risk Researcher and update the adviser credentials. Where credentials are absent, quotes generated will list the adviser’s name as 'Xplan Adviser'.
Wrapping it up
Five simple steps to make sure your client data is correct, your team has better workflow efficiencies in place and your client documentation is always high quality.
Are you getting the most out of your XPLAN installation? Why not speak to our team about how you can improve your efficiencies? We can show you how the best businesses are using XPLAN to grow and scale for the future.