The tool will help evaluate the benefits of the LRBA, its impact on cash flow, and the point in time the SMSF is projected to run out of liquid assets over the projected period.
This significant enhancement to DASH’s platform, Archer, will also allow the optional modelling of a working account and different portfolios of assets within the SMSF, with each portfolio having its rates of return, fees and liquidity characteristics.
Cameron O’Sullivan, head of product – digital engagement at DASH, said the enhancements will make managing clients’ SMSFs more efficient and insightful and combined with the existing goals-based modelling, the value-add to the client experience is ten-fold.
“The difference with this tool is it is an optimiser, not a calculator that requires a human to determine the specific details of a strategy, like the exact dollar or pre- and post-tax contributions required for the clients, for every year of the strategy,” O’Sullivan said.
Earlier this year, The Value Gap report by Effortless Engagement highlighted the disparity in clients’ confidence in advisers reaching their goals, only 57 per cent are confident that their adviser is capable of meeting their goals, while advisers are 92 per cent confident.
“Resolving this issue is paramount in growing the number of Australians that are advised, as well as maintaining current client satisfaction,” O’Sullivan said.
“Tools like Archer, which can be used in front of the client to model various scenarios and goals, showing the client right then and there the value of advice.”
He continued that Archer is designed to show the benefits of a particular strategy the adviser might be considering on-screen in a couple of minutes and aims to eliminate hours of paraplanning, to enable the adviser to deal with a lot more ‘what if’ style questions from their client.
