Planit:Client Service Search
From Planipedia
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The Client Service Search allows advisors to generate filtered lists of their clients based on either scheduled reviews of the financial plan, the portfolio or other events, as well as to find clients whose portfolios are out of balance with the target portfolio by more than a specified % or $ amount. Advisors can then dynamically link to any of the clients on the list to review the account specifics.
Under the Administration Section on the Personal Information the advisor can list the last time a financial plan or portfolio review was generated for the client. You can also set how frequently the item (plan or portfolio or other) is to be review - monthly, quarterly, annual etc.
As an example, if the portfolio was last reviewed on July 15th and you indicated a quarterly review is required and it is now October 16th, the software would say July 15+ 3 months = October 15th and it is past that date, so a review is required. If the current date was October 1st the client would not appear on the list.
Changing the date to a future date would cause the system to display clients scheduled for re view by that point in time.
If the IPS said that the client should have 50% in Fixed Income and 50% in Domestic Equities, these values would be entered in the Target Allocation. If on the Client Service Search you entered a Minimum % Variance of 5%, the system would flag this client if the current portfolio has 45% or less in either of these asset classes, or if either class had 55% or more (ie. 50% =/- 5%). The asset class most out of balance will be displayed. This feature only has value if the current portfolio allocation is updated over time.
The same logic applies with a Minimum $ Variance only it compares on a dollar variance basis. The reason you may use this is that for smaller accounts although an asset class may be out of balance by more than a specified percentage, the dollar value is to small to make rebalancing practical.
