Full SOA template overview
Before you run a full comprehensive advice model, there are a range of settings to consider before you run the model. These are:
| Step | Setting | Description |
|---|---|---|
| 1 | Adviser settings | Adviser settings is used to determine model settings. For exapple, model type (optimised v deterministic), what advice levers do we wish to pull? (e.g. increase investment, retirement age, reduce spending etc. |
| 2 | Scope | The scope of the model will strategies are available for consideration. For example, if insurance is not in scope, the model will not run detailed needs analysis and/or find/replace an appropriate insurance product. |
| 3 | Insurance | If insurance is in scope, then additional questions will be presented to confirm what assumptions you wish to drive the insurance recommendations. If insurance is not in scope this step will be removed. |
| 4 | Portfolio | If portfolio advice is required, additional questions will be presented to confirm what assumptions you need to drive the recommendations. |
| 5 | Strategy | Advisers can use this section to insert their own strategy recommendations into the model |
| 6 | Optimisation | The optimisation settings will only be used if the model type = Optimised. These settings allow the adviser to drive what strategies/products they want the model to consider. |
| 7 | Assumptions | Assumptions can be used to set things such as rates of return per asset, interest rates, insert advice fees etc. |
Post your comment on this topic.