by Carolyn Rothwell on May 15, 2012

Customizing Asset Classes and Allocations in Silver Financial Planner


Do you know you can customize the asset classes and the suggested asset allocation portfolios available in Silver Financial Planner?  By default, Silver includes six asset classes: Cash & Reserves, Income, Income & Growth, Growth, Aggressive Growth and Other. You can change the default classes and add up to six additional classes, for a total of twelve.   

Desktop Edition (shown below):
Go to the menu item "Options" and select “Customize Asset Classes”.  

Online Edition:
Go to "Settings" and select "Asset Allocation"

Note:  Permission settings in Silver Online may limit your ability to view or change the company asset allocation information under Settings.  Users with an administrator role will have an [Administration] tab where the default asset classes can be set as the user defaults.

After clicking on the menu item, you will be presented with the default asset classes, their abbreviations and three allocation tables, as shown below for the desktop edition. 


Default Asset Classes and Allocation:

AssetAllocationSettings

Changing Asset Class Names and Abbreviations

When changing asset class names, be sure and change the abbreviations as well. The abbreviations are used for the asset allocation pie charts.  Simply highlight the field and type in the new class you wish to use and a logical abbreviation.

Changing Asset Allocations

There are three sets of asset allocation tables:

1.   Accumulation Portfolios - for clients up to five years prior to retirement
2.   Retirement Portfolios - from five years prior to retirement up to 10 years prior to life expectancy
3.   Later Life Portfolios - for clients within 10 years of life expectancy

In each table are columns associated with the clients risk tolerance:

1.   Very Conservative
2.   Somewhat Conservative
3.   Moderate
4.   Somewhat Aggressive
5.   Aggressive

Enter the appropriate mix of percentages for that level of risk tolerance in each column making sure they add up to 100%.  The allocations set here will be the default asset allocations used in the asset allocation reports.

For example, if you use asset classes of Large Cap, Mid Cap, Small Cap, International, Fixed Income Municipals and Cash in your practice, you can customize the settings in Silver to reflect those classes and change the suggested allocations for each portfolio, as shown below. 

Customized Asset Classes and Allocation:

RevisedAssetAllocation
The asset allocation reports will display the customized information; the pie charts will display the asset class abbreviations and suggested allocation based on the clients risk level and portfolio phase.
 
Asset Allocation Report - Customized Asset Classes and Allocation:

AssetAllocation


Defaults can be overridden on a case-by-case basis within the clients plan.
Simply enter the desired percentages in the “Suggested Allocation” column with a client's plan.  This will apply only to the current plan and not affect the default settings.

Desktop edition:
The option is on the Asset Summary window of the Asset section.  The "Suggested Allocation" column will display 0%.  Enter the custom allocation to override the default allocation in settings for the plan. 

Online Edition:
The option is on the Asset Allocation section.  The "Suggested Allocation" column will display 0%.  Enter the custom allocation to override the default allocation in settings for the plan. 

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Carolyn Rothwell

Carolyn enjoys spending her time building Money Tree Software's brand and products. Her experience creating and delivering financial plans for a full-service financial planning firm and supporting advisors working to provide the best planning to their clients as a Money Tree support member has provided an excellent understanding of the importance of financial planning.