So you’re wondering what happens first, second, and third? The Rask advice process is designed to be transparent and efficient. Here is the typical journey once you’ve activated personal advice in the app.
Before the workflow starts
You enter the advice workflow when you activate personal advice from My Adviser. If your membership is not eligible yet, you’ll be prompted to review your billing first.
1. Onboarding & Data Collection
First, you’ll build your Living Profile.
- Connect Feeds: Link your bank accounts and portfolios for real-time data.
- Complete Forms: Fill out your Fact Find, Goals, and Risk Profile.
- Upload Documents: Share your tax returns and statements via the Document Vault.
2. Strategy Design
Once your data is in, the real work begins.
- Review: Your adviser reviews your profile to ensure everything is accurate.
- Modelling: We use our advice engine to model different strategy options based on your goals.
- Collaboration: You’ll discuss these options with your adviser via Messaging or video call.
3. Paraplanning & formal advice
When you’ve settled on a strategy, we formalise it.
- Generation: We generate a Statement of Advice (SOA) — a comprehensive document explaining our recommendations.
- Review & Sign: You review the SOA in your dashboard and sign it electronically.
4. Implementation & Tracking
The plan is only useful if it’s put into action.
- Execution: We help you implement the recommendations (e.g., setting up new investments or insurance).
- Monitoring: Your Net Wealth Tracker and Cashflow dashboard help you stay on track.
- Reviews: We’ll meet regularly to update your strategy as your life changes.