‘My Clients’ page: Improved filtering and new tagging system
There are now more filter options available to you when viewing a list of your clients within CashCalc. Whereas previously, you could simply search for the name of your client, now you can refine your search and filter results by Portal account status, integration status and review date.
For example, if you wish to see a list of all of your clients who have yet to be sent an invitation to create a secure Portal, you can simply apply the filter ‘Portal account status = Portal invitation not sent’. You can then invite these clients to create their very own secure Portal.
In addition, we’ve also added tags, which enable you to add your very own bespoke tags to specific clients (which can also be used to filter). For example, if you’ve got a number of clients who are invested in a particular investment strategy from a certain provider, you can add specific tags to highlight this.
This is an initial step towards being able to send tailored communications to your clients. For example, if you've tagged all of your clients who are invested in a particular investment strategy from a certain provider, you'll soon be able to bulk upload documents/messages/etc directly into each of their secure Portal.
Cashflow Modeller (Net & Gross): Upgraded risk profiling functionality
Within our Investment Proposition feature (which can be found within your ‘My Account’ section), you have the ability to create your company’s investment proposition by adding risk profiles and charges. Once created, you are then able to use this information within both Cashflow Modellers.
For example, you’ll be able to filter projections in accordance with your client’s attitude to risk. This means when you are creating their cashflow plans, you’ll be able to add their risk profile and then only select from asset allocations which are appropriate.
This particular area of CashCalc will soon be enhanced even further. We are in the final stages of developing an integration with EValue, which will enable you to conduct Attitude to Risk Questionnaires from within your secure Portal, and automatically pull the results into CashCalc (more to follow).
Cashflow Modeller (Gross): Ability to lock assets and new stress testing features
Following your feedback, we have now introduced the ability to lock assets within the Cashflow Modeller (Gross). This means you can now add savings pots which cannot be ‘dipped into’ if your client needs more money than what their guaranteed income sources can provide – essentially an illiquid pot.
For example, if your client has an ‘emergency fund’ which they never want to dip into, you can add this as a savings pot but ‘lock’ the asset. This means it can still generate income, but if your client needs to draw on a pot, it will be ignored.
Within the Cashflow Modeller (Gross), you can now conduct market event simulations, which allow you to stress test the cashflow plans you create for your clients. This already exists within the net version, and we’ll soon be adding both the Monte Carlo simulator and Meet a Goal feature to complete the stress testing functionality.
A brand-new feature to the market event simulation option has also been added. This enables you to either toggle on or toggle off all ‘essential’, ‘lifestyle’ or ‘discretionary’ expenditure (or even specific combinations of all 3) to understand and demonstrate its effect.
For example, if your client has a cashflow plan which is running out of money, you can quickly demonstrate the effect stopping all ‘discretionary’ expenditure will have. By simply toggling off the ‘discretionary’ expenditure option, the cashflow plan will recalculate and visually depict what position your client would then be in.
All new tax bands, thresholds and rates appropriate to the 2022/23 tax year have been added, including the new Dividend Tax rates, National Insurance adjustments, and the "double lock" in the Cashflow Modeller (Gross & Net) for State Pension increases. Additional tools such as Pension Carry Forward and Salary/Dividend Tax Calculator also have the option to create forecasts relating to 2022/23.
Let us know your thoughts
Have ideas for how we can improve CashCalc? Many features just like these come directly from user feedback, so if you have any suggestions, please don’t hesitate to let us know. You can either send your feedback direct, or speak to your account manager. Thanks!Submit your feedback >