Member Finances

Productivity Tip

This is another area where people take shortcuts and lose out in the long run. Basically if you don't have a snapshot of a client's finances written down somewhere and can show that this has been used in your cover calculations, then we think you have a pretty serious compliance issue. Having someone's finances noted also gives a handy area to gently probe when in conversation - "how is your income these days George? Are you still on $85k?" George responds - "Well no, I'm now on $120k and a car after being promoted last year." Broker using E-Broker "Hmmm, your income cover is only at $60k George, so we should catch up and adjust this. What is you week like next week?

Member Finances

1.	The data entry area for Member Finances is accessed via the Member Details Screen, or directly from the top menu bar.

2.	There are 4 data entry tabs for the various categories and a Net Worth tab which displays the overview.

3.	To add a new income, just select a type under Finance Type

4.	Tab through and add the amount (annualised basis with no formatting - the system does all this for you)

5.	Add any notes and press enter to add the new line. Tip - when adding in rental income, we generally separate this out property by property and add a street name for each property under Notes.

6.	The other 3 tabs, Expenses, Assets and Liabilities all work in a similar manner.

7.	Don't forget to flag any joint assets and liabilities with a tick in the Joint Amount box. These than pull through appropriately to the Planning Module needs analysis area to be used in the individual calculations.