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Product Requirements Document: Adviser Copilot

1. Overview​

Adviser Copilot is a powerful portfolio analysis and comparison tool designed for financial advisers and support-related staff. It provides a "look-through" analysis of investment portfolios, focusing on the underlying holdings of funds, ETFs, and stocks. This allows advisers to give a deeper level of analysis to their clients, focusing on asset allocation and factor exposures rather than just fees and performance.

The tool is a key value-add for InvestSense clients and is particularly effective in demonstrating the benefits of transitioning clients into InvestSense Separately Managed Accounts (SMAs).

A core feature of Adviser Copilot is the integration of "Ask Trellia," an AI-powered assistant that helps advisers by generating summaries and explanations of complex portfolio data, which can then be used in advice documents.

2. Target Audience​

The primary users of Adviser Copilot are:

  • Financial Advisers: Using the tool to analyze client portfolios, prepare for client meetings, and generate materials for advice documents.
  • InvestSense Staff: Using the tool for presentations, training, and demonstrating the value of InvestSense products.

3. Goals and Objectives​

Business Goals​

  • Increase Adoption of InvestSense SMAs: By clearly demonstrating the benefits of InvestSense SMAs over a client's existing portfolio.
  • Enhance Adviser Relationships: Provide a valuable tool that improves the efficiency and quality of advice provided by financial advisers.
  • Differentiate InvestSense: Offer a unique and powerful portfolio analysis tool that focuses on a holdings-based approach.

User Objectives​

  • Efficiently Analyze Client Portfolios: Quickly upload or input a client's existing portfolio to understand its composition.
  • Compare Portfolios Effectively: Compare a client's existing portfolio with a proposed InvestSense SMA to highlight key differences and benefits.
  • Generate Client-Ready Materials: Create clear, concise, and visually appealing charts and summaries for use in client presentations and advice documents.
  • Leverage AI for Insights: Use the "Ask Trellia" AI assistant to generate explanations and summaries, saving time and improving the quality of client communication.

4. User Journey​

Here is a typical workflow for a financial adviser using Adviser Copilot:

  1. Initial Client Meeting: An adviser meets with a new or existing client who has a portfolio of investments (stocks, ETFs, managed funds).
  2. Load Existing Portfolio: The adviser loads the client's portfolio into Adviser Copilot. This can be done in two ways:
    • Manual Entry: Entering each holding (stock, fund, ETF) and its value into the Adviser Copilot table.
    • File Upload: Using a provided Excel template to list the holdings and upload it to the tool.
  3. Select Comparison Portfolio: The adviser selects an appropriate InvestSense SMA to compare against the client's current portfolio, or can choose to compare it to a completely custom portfolio, based on the input of the adviser.
  4. Analyze and Compare: The tool immediately displays a comparison table showing:
    • Common holdings between the two portfolios.
    • Potential capital gains implications.
    • Opportunities for in-specie transfers.
    • The adviser can edit the current and proposed portfolio in the table if needed.
  5. Visualize with Lookthrough Charts: The adviser reviews the lookthrough charts, which show:
    • A detailed breakdown of asset allocation.
    • Factor-based exposures (e.g., to different sectors, countries, or investment styles).
    • These charts aggregate the underlying holdings of all investments in the portfolio to provide a true picture of the client's exposure.
  6. Get AI-Powered Explanations: For any chart, the adviser can click "Explain This Chart." The "Ask Trellia" AI will provide a brief, easy-to-understand description of what the chart shows.
  7. Generate AI Summary: The adviser uses the "Ask Trellia" feature to generate a summary of the portfolio comparison, highlighting the key findings. The adviser can then edit this text as needed.
  8. Export to PDF: The adviser exports the analysis as a PDF. This document includes the comparison table, the lookthrough charts, and the generated summary text. This PDF can then be used as part of the formal advice document (Statement of Advice) for the client.

5. Key Features​

5.1. Portfolio Loading and Management​

  • Manual Portfolio Entry: An editable table where users can add, edit, and remove individual holdings (stocks, funds, ETFs) and their corresponding weights.
  • Excel Template Upload: Users can download a pre-formatted Excel template, fill it with portfolio data, and upload it to the tool.
  • Saved Portfolios: Users can select from previously saved client portfolios.
  • SMA Selection: Users can select from a list of available InvestSense SMAs.

5.2. Portfolio Comparison and Analysis​

  • Side-by-Side Table View: A clear table that shows the holdings of the current portfolio alongside the proposed portfolio.
  • Key Metrics Display: The table will highlight common holdings, potential capital gains tax implications, and in-specie transfer opportunities.
  • Editable Proposed Portfolio: Advisers can adjust the holdings and weights in the proposed portfolio directly within the comparison table.

5.3. Lookthrough Charts and AI-Powered Explanations​

  • Asset Allocation Chart: Visualizes the breakdown of the portfolio by asset class (e.g., Australian Equities, International Equities, Fixed Income).
  • Factor Exposure Charts: Shows the portfolio's exposure to various investment factors (e.g., growth vs. value, large-cap vs. small-cap).
  • "Explain This Chart" button: An AI-powered feature that generates a text explanation for each chart.

5.4. AI-Generated Summaries​

  • "Ask Trellia" AI Assistant: A text generation feature that creates a summary of the portfolio analysis.
  • Editable Output: The generated text is fully editable, allowing advisers to customize it to their needs and regulatory requirements.

5.5. PDF Export​

  • One-Click PDF Generation: Users can export the entire analysis, including the comparison table, charts, and summary text, into a professionally formatted PDF.
  • Customizable Content: (Future enhancement) Allow users to select which components to include in the PDF report.