We don't intend to entirely replace data entry in Voyant Adviser with this importable fact find. However, most of the key items needed to create a client case in Voyant, including:
- Your clients' personal information and planned retirement ages,
- Information about children and other family members,
- Employment and other income sources,
- Defined contribution pensions,
- Existing ARF/AMRFs,
- Real properties and other assets,
- Expenses, with the exception of legacy gifts, which are used to model gifts to charities, family members, etc., usually for inheritance planning.
Other items that for accurate modelling require more complex information than can be gathered by the form are captured as basic details in the fact find, alerting you to the need for further review, but must still be entered into Voyant manually. Items that are not importable from the fact find are:
- Anticipated future windfalls,
- Defined benefit pension schemes,
- State pension benefits,
- Protection policies,
- Legacy expenses, which are used to model gifts to charities, family members, etc., usually for inheritance planning.
- Estate plans.
Notes, personal addresses and contact information and the questionnaire on Goals & Priorities near the back of the fact find are in the fact find only or informational purposes. The fact find is still intended to serve as a full fact find, it is not simply a Voyant import tool, so we collect information that is not stored or imported into Voyant but that is there for the adviser's benefit.
We have small notations in the fact find that show a) required entries and b) which fields are importable.
- Importable fields are noted in the fact find with a circle.
- Essential entries, those required to create a plan, are noted with an asterisk *.
- Conditional entries, those required only if a given item is to be imported, are noted with a diamond ◇.
Why don’t we import everything? Bear in mind that the fact find is meant to be used by clients. Our goal is not to overburden your client with far too many queries. More complex products, especially final salary pension schemes and protection policies, require a fair amount of detail to be modelled correctly. We don’t import these items because it is not reasonable to ask a client for all of this information in a fact find. If we did ask for all of this information, clients would probably find the questionnaire overwhelming and wouldn’t respond. Also the document would become too large, also becoming daunting to clients.
In many respects, the fact find remains a traditional questionnaire. Sections about goals and priorities, estate plans, and the free-form notes are intended to gather information that could be modelled in Voyant. These pages do not match to importable inputs, however. For example, the list of planning goals and priorities is designed to assess possible scenarios your client might be interested in exploring in Voyant. These selections are not intended to be importable.
Above all else, the importable fact find is in no way intended to be a complete replacement for data entry. It should be examined and checked against the plan created in Voyant after importing it.
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