Recent Updates

Release – 9 October 2017

Small changes including:

  • Add Sasfin to the list of possible bank statement import formats
  • Change the way brokerages links to Distributors
  • Add ‘Additional Interest, Fees and Taxes’ to the Investor import format
  • Make improvements to the Dealer instruction document
  • Improve the performance on the export of large Transaction files
  • Create a report facility for client holdings on a specified date
  • Create a General transactions report to find any transaction on the system
  • Ensure that the Working, Reserve and Fee portfolio of a product has the same asset holder custodian as the product
  • Ensure that the Document card on investor account only list the latest documents
  • Allow the Company contact person to see the relevant company’s investment account as read only
  • Change the recon screen under instruments to cater for multiple instrument accounts

Create a General Assets and Liability Report

The first screen of the report provides a view of the different supplier accounts and allows the user to drill four levels in, to the actual transactions:

Create a new menu to import bank statements

The previous facilities to import bank statements are still available. The new facility provides a shorter route (less clicks) to import a bank statement.

Refer to your online Pivotal Tracker Project for a full list of changes and enhancements for the release.

Release – 20 September 2017

Small changes including:

  • Upgrade the operating system of all servers to Ubuntu 16.04 LTS
  • Change the Recon button on an Instrument to show Statement balances per Supplier account
  • Clean up empty Instrument – and Supplier accounts
  • Remove empty Custodian roles
  • Change Switch in amount transactions to show original requested amount instead of rounded amount based on confirmed units and price
  • Change automatic statements to only send to active accounts
  • Include trading accounts, that is not linked to bank accounts, in the Cash Recon report
  • Use the Instrument account’s Custodian’s Registered Country to determine the distribution categories for a distribution
  • Change finswitch import facility to convert price cents to rand
  • Allow the selection of in-active funds in Model portfolios
  • Add the ability to delete an exchange rate
  • Ensure manual identify on bank entry uses the instrument account of the bank entry
  • Ensure adjustments can only be made to accounts with the same Asset holder custodian
  • Add “Annual advisor fee start date” to the investor import file

Create movement transactions when adding Statement balances

Currently when a statement balance is added on an instrument it is just an entry in a list. In preparation, to be able to import unit account statements from bulk providers, the adding of statement balances is now movement transaction.

This can be viewed on two screens:

1 – The asset side of the supplier account

In the screen print above:
2017-09-13 Statement balance – R 10 030 039.58
2017-09-14 Statement balance – R 10 021 846.72
The movement transaction is therefore R 10 030 039.58 – R 10 021 846.72 = – R 8 192.86

2 – Under Supplier Balance (Instrument->Recon->Supplier Balance)

Refer to your online Pivotal Tracker Project for a full list of changes and enhancements for the release.

Release – 25 August 2017

Small changes including:

  • Increase allowed accounts on bulk Statement run
  • Move bank format to Instrument Account
  • Add contribution type for employer and employee contributions to investor and employee import files
  • Change default Compliance (FAIS) settings when creating new Brokerages or Advisers
  • Add “Annual adviser fee start date” to the investor import
  • Improve performance in displaying accounts
  • Add “AUM import name” column to the platform list of models
  • Expand model portfolio import formats
  • Add ‘Instrument currency market value’ to the detail holdings screen and statement
  • Allow different periods on different amortisations
  • Add change person to company and vice versa
  • Add “Account Closed” to the list of Status descriptions on an In-active investor account
  • Create a ‘No contribution’ to simplify notification when we possible match on bank statement import
  • Add allow amortisation setting on product

Free cover limit for Benefits

As part of the Investment Instruction, on the benefit calculation screen, “Free Cover Limit” can be ticked and an amount for the Free Cover Limit added. This amount will then be displayed on the statement as the Benefit instead of the calculated Benefit. The calculated benefit is still used to determine the premium (if the premium is based on the benefit).

Free Cover Limits apply to members who does not go for the required medicals, but are still accepted for Free Cover Benefits.

Client Groups for filtering

Different Client Groups can be created and selected on an Investor account. The group can then be used as a filter on Instruction lists and when Dealer Instructions are created.

* Refer to your online Pivotal Tracker Project for a full list of changes and enhancements for the release.

Release – 27 July 2017

Small changes including:

  • Add FinSwitch import facility
  • Make transaction – and deal fees applicable to all instruments
  • Add minimum employees report
  • Add Bloomberg Ticker and Morningstar SECID to all instruments
  • Create Portfolio Instruments and Composed Investor Accounts
  • Add a list of fee types under system
  • Expand statuses on inactive instruments
  • Create the ability to specify the sell leg of a switch in amount
  • Declare and allocate distributions per instrument account
  • Add a list of all instruments in the system under the Instrument menu
  • Improve unit reconciliation and split bank accounts and statements

Expand the calculation options for Insurance Premiums

The insurance premium/amount is part of the Instrument Selection on an investment and can now be calculated based on:
Fixed amount (what we already could do)
% of Instruction Amount (what we already could do)
% of Risk Salary or Salary
% Unit Rate (for every R10 or R1000, x%)

Each insurance instrument can also have a different calculation.

Make instruction descriptions editable per product

Instruction descriptions as they appear in the system, on client statements, e-mails and smses can now be customised per product.

* Refer to your online Pivotal Tracker Project for a full list of changes and enhancements for the release.

Release – 24 June 2017

Small changes including:

  • Add the ability to remove an account owner from an account if there is another account owner for the account.
  • Contribution certificates changes
  • Expand variables for email templates – investor Title, initials, first names and Surname
  • Add Retail Type column to instrument list
  • Make buy / sell cash & units dates the same
  • Add paid dealer but not confirmed (buys) and waiting for payment from dealer (sells) to cash liability

Create the concept of a Distributor

Create the ability to add a company as a Distributor with the option to link it to a Brokerage

* Refer to your online Pivotal Tracker Project for a full list of changes and enhancements for the release.

Release – 9 June 2017

Small changes including:

  • Create Supplier accounts for Dealers and Custodians
  • Ability to split Initial Investment Fees and Ongoing Administration fees on an Account
  • Expand fields available on ‘Import Investors’ file
  • Ability to import restricted funds on Employers without adding them to the list of available instruments
  • Activate Import Historical Transactions menu

Changes to Custodian accounts and Unit Reconciliation

It is now possible to see the Unit reconciliation on the Custodian account. Asset and liability accounts are linked directly and “asset” accounts are now actual accounts on the system.

Dealer Instruction Changes

The Instrument instruction and Contract note screens changed to cater for Deal fees, Transaction fees and Priced-in fee.

* Refer to your online Pivotal Tracker Project for a full list of changes and enhancements for the release.

Release – 26 May 2017

Small changes including:

  • Create benchmark if it does not exist when importing benchmark prices
  • Make it possible to select ‘New’ status on bulk authorisation screen
  • Change warning message on trying to import e-mail addresses with special characters
  • Add the option to use old SARS format to generate SARS file
  • Include Transfers In and Transfers Out in the calculation of New Prices on Instruments dealing in Amount
  • Create the ability to import distributions for unitised instruments
  • Add the ability to download transactions per Instrument
  • Make all debit order reversals consistent to write to Working Portfolio

Confirmation of Units on a Buy prior to Payment

Create the ability to confirm units on a buy before paying the Instrument Provider. The units is allocated to the client on confirmation. The Dealer Instruction is only completed when the payment have been matched.

 

* Refer to your online Pivotal Tracker Project for a full list of changes and enhancements for the release.

Release – 18 May 2017

Small changes including:

  • Use daily exchange rate for daily fee calculation
  • Change ‘fees on last withdrawal’ to work with multi currencies
  • Minimise internal transfers and currency exchanges with switches
  • Add life assured to an account
  • Create the ability to go to bank account entries and do a “Possible match” on an unmatched bank entry.
  • The ability to match less money on a group contribution and allow it to authorise
  • Make provision for new SARS Contribution certificate submission specifications
  • Create the ability to import Company investors
  • Include transfers out in 100% instrument withdrawal

Deal buys and sells through a trading account

Create the ability to buy ETF’s or Shares through a trading account. First buy into the trading account and when the buy allocates, the confirmed amount is taken from the trading account and units are given in the ETF or share. Transaction fees are taken from the trading account and interest is allocated in the trading account.

When selling an ETF or share, the proceeds first go to the trading account.

* Refer to your online Pivotal Tracker Project for a full list of changes and enhancements for the release.

Release – 14 April 2017

Small changes including:

  • Create chain of allocation screens
  • Build the ability to specify an exact unit switch
  • Deal shares and ETFs through a Trading account
  • Add Driver’s license as identification type
  • Create the facility to select which cards to display on an Entity
  • Add a section on the switch confirmation screen to display the percentage instrument splits after the switch
  • Create payment batches per currency

Automatic distribution of statements to clients

This feature enables administrators to select Clients or Advisors to receive statements automatically, as well as the frequency of the statements.

* Refer to your online Pivotal Tracker Project for a full list of changes and enhancements for the release.

Release – 20 March 2017

Small changes including:

  • Change process of Bulk authorisation for contributions submitted internally
  • Change Exchange rates to use multiplication instead of division
  • Change Dealer instructions to cater for multiple currencies
  • Change confirming and fee taking on instrument instructions

Payout original Adviser Fee amount

Create the option to select ‘Payout original Amount’ on an Adviser with ‘Payout Adviser Fee’ selected. In instances where the original amount of the switch instruction to cash for the payout differs from the confirmation amount of the switch, an exchange transaction for the difference is created to the Working Portfolio.

* Refer to your online Pivotal Tracker Project for a full list of changes and enhancements for the release.