After Importing (Step 1) - Correct any errors in the plan following the import

After importing a fact find, first check the new client case for errors, which will be readily apparent after importing. Errors do not necessarily indicate a problem. In most cases, they indicate additional information is needed about certain imported items.

 

The more complex investment products, such as life funds (bonds) and discounted gift trusts, will likely require additional information for accurate modelling. An onshore life fund, for example, requires the selection of start and end events or stages to mark the period over which the bond will be held in the plan and when it will eventually be fully encashed.

Do pay close attention to wording of the errors as they usually provide an apt description of what needs to be completed. Do not click the X (delete button) to the right of the error unless you intend to delete the associated item from the plan.

Voyant displays these error messages along the bottom of the screen. The messages are clickable links that will take you directly to the item that requires additional information or corrections.

For example, if your client has existing drawdowns, you will need to review and set the initial starting balance of the drawdown, as it was when first created from a crystallised money purchase, prior to the beginning of the plan.

1. Click the error message at the bottom of screen to jump to the drawdown pension on the Pensions > Drawdown Pensions screen.

The Initial Balance field is highlighted in pink, which indicates a problem. If you do not know this balance, you may enter a value matching the current balance of the drawdown pension.

2. Enter a balance in this field and client Update. Doing so will resolve and remove the error.

3. Click any remaining error messages to resolve them as well.

 

Next step

Step 2, check for milestone expenses and set their timing

 

Related Topics

After Importing - A checklist for review following the import of a client fact find

How to create a new client case by importing a fact find into Voyant

Fact Find - Import and create new client cases using the importable fact find

Potential issues and errors when importing from a fact find

 

For Further Reading

A user's guide to the importable fact find

 

Other Related Documents

Voyant UK importable fact find (PDF)