New in Our February 2019 Release of Voyant Adviser

As we migrate functionality from Voyant Adviser into AdviserGo, one major goal is to improve any longstanding features that could stand a redesign. In this release, Debts have been a focus of review. 

We've changed the way debt payments are managed and also how future changes to payments are stepped in Voyant Adviser and as a newly added feature in AdviserGo. 

 

Debts - Manage debt payments and schedule future changes (steps) in payments in Adviser and AdviserGo

Before - Over the years we’ve spent ample time training users of Voyant Adviser to look to the Expenses > Basics screen to manage linked debt payments.

To increase or decrease future payments on a debt, you would need to know to go the Expenses > Basics screen, find the debt payment expense, and then use the Step Up / Down feature to schedule these future changes to the payment schedule.

Rarely did anyone ever guess that debt payments were managed separately from the debts themselves. This was an aspect of the software one had to learn. Those who looked intuitively to the Debts screen to schedule future changes in debts payments would find only the option to make future changes to the interest rate on the debt.

Below, a mortgage entered on the Debts screen. The mortgage payment is shown as a linked item in he ledger.

Debt01.jpg

 

Below, the linked debt payment on the Expense > Basics screen. It is here that one could step up or down future debt payments.

Debt02.jpg


Now - Everything related to debts will be managed on the Debts screens.

This includes debt payments, which will no longer be shown as separate linked expenses on the Expenses > Basics screen.

As before, debt payments will be created based on entries on the Debts screen, as shown below.

The monthly or yearly amount shown on the screen will result in a debt payment expense, which can be tracked among other expenditures in the annual chart details (as show below) for the duration of the debt in the plan. This hasn’t changed.

Only now debt payments will work more like the expenses we create for protection policy premiums or the future purchase of a property or an onshore/offshore life fund. The expense is created but will not appear on the Basic Expenses screen.

Debt payments will instead be managed more intuitively in one place, on the Debts screen, along with all the other details regarding debts. Any future increases or decreases (steps) in debt payments will now be scheduled on Steps tab of the Debts screen.

Note - If you scheduled steps to linked debt payments in the past, you will now find these on the Steps tab of the Debts screen.

StepDebt01.jpg

There is also a new option to set an annual escalation rate on debt payments. If your clients want to regularly increase their debt payments over time, an escalation of payment amounts can be scheduled.


For Further Reading

Learn how to step future debt payments up or down in AdviserGo

See also how to step future debt payments in Voyant Adviser