The client workflow is used to organize accounts, recommendations, and risk surveys for a prospect or client. It is a complete end-to-end workflow, where you begin with gauging risk tolerance and you finish with a report containing a recommendation.
You can watch a video walkthrough here:
Or use this Step-by-Step guide:
After you click “Save” you’ll be immediately taken to the client and launched into the setup process. The first step is to determine the client’s risk tolerance. You have several options here.
The Risk Tolerance survey is a way to determine the greatest drawdown a client can experience before needing to see recovery. This is represented as a percent loss ranging from 0-50%. For example, if the client scores 24%, that means they are hypothetically comfortable experiencing a 24% drawdown in their investments before recovering.
To learn more about the risk survey, click here.
Once the risk tolerance is either determined or skipped, you will be taken to Step 2 to enter the current holdings. On this step, you again have a few options:
You can add several accounts individually (e.g. a 401k or IRA) and they will automatically be grouped together for analysis. In this example, we will use the “Create New Portfolio” to enter the client’s holdings. At this point you will be asked the type of portfolio you would like to create. You may select between Dollar Value, Percentage or Share Quantity.
Now, we are taken to Step 3 of 4: Recommendation.
Clicking the blue "Set Recommendation" at the top will simulate selling all the assets and moving to a recommendation.
If you click "Show underlying portfolios?" you will be able to create recommendations on an account-by-account basis. In setting a recommendation, you have a few options.
Let’s “Blend Models” to replace the IRA holdings. In this example, we've allocated 60% of the money to the Income Strategy and 40% into the Fidelity Conservative model. On the right we see a preview of their Stress Test Risk and Expected Return, which meets the Risk Tolerance we set earlier. At the bottom we see the system will apply this model mix to the $40k available in this IRA. Hitting “Create Recommendation” builds the recommendation.
In this example, we can't move the 401(k) into one of our models, so we will simply recommmend the client rebalances their holdings. Choosing “Copy Existing Holdings” brings up their holdings in the portfolio editor. For this example, we moved them from 100% equities to a 50/50 split.
Hitting "Save" takes us to Step 4 of 4: Results! Depending on your version of HiddenLevers, you will see different options.
Clicking out of the 4-step workflow takes you to the overall client view. Here, you can see the risk tolerance, and an overview of the stress test risk for each account. You can click any of the circle icons at the top to re-engage each step, for example, if you want to change the risk tolerance click the Risk Tolerance circle with the green checkmark. Clicking on an account name will also bring up individual actions possible for that account.
If you have any further questions, please reach out! You can email us at firstname.lastname@example.org or call 800.277.4830.