Recent Updates

Release – 5 December 2017

Small changes including:

  • Only allow upload of certain file types for security purposes
  • Add currency to Model portfolios
  • Change the reset password message for incorrect user IDs for security purposes
  • Remove closing balances from account – and instrument cash flows on statements
  • Create facility to specify statement period on automated transaction notification e-mails
  • Make improvements to General Asset and Liability report
  • Create the ability to remove a currency if not being used
  • Add the ability to include instrument codes on the holdings card and statements
  • Improve the status of cash only withdrawals where the payment to the investor is cancelled
  • Add the ability to automate the taking of fees
  • Add the ability to automate the payment of advisor fees
  • Create the ability to bulk upload once-off withdrawal instructions
  • Create the ability to bulk upload ad-hoc fees
  • Create the ability to bulk upload switch instructions
  • Create the ability to bulk upload once-off withdrawals

Job scheduler for automated functions

The Jobs sub-menu has been added under the System main menu.

The functionality displays the available automated jobs and scheduled jobs. The details of a scheduled job, including the run time of the job, can be set on the job itself. The last successful run of the job is displayed on the job.

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

Release – 9 November 2017

Small changes including:

  • Change fee run to include all unprocessed fees; also accounts where no funds where available to take fees from
  • Add a warning message to unit confirmation when the price – and transaction dates do not match
  • Add currency to Adviser’s and Brokerage’s available instrument list
  • Enable bi-annual third party submissions to SARS
  • Add a warning message when buying a share or ETF without a trading account being set on the instrument
  • Add registration link on login screen

Bulk transfer out and transfer in function

The functionality was added to enable the bulk transfer out of selected accounts to a different product and can be found on all instruments under Investor accounts.

Statement periods for automated statements

Automated statements previously send all statements for a year period. With the new functionality it is possible to select the period of the statement:

The period can be set from 0 to 12 (0=since inception, 1=1 month, 2=2 months etc.)

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

Release – 24 October 2017

Small changes including:

  • Create a facility under Configuration to set the default transaction date on a Dealer instruction
  • Add Liability – and Asset accounts navigation to instrument accounts
  • Ensure that buys and sells through a trading account use the same dealer on the trading account as the dealer set on the instrument to be bought or sold
  • Improve the message displayed when a bank account has not been setup on an instrument account to match with
  • Improve views for Contact person login
  • Add the facility to ‘kick off’ cash only withdrawals on the commencement date

List instrument accounts on the instruction screen for withdrawals, switches and transfer out

This is to cater for the scenario where one investor bought units in one instrument, but through two (or more) different dealers. The account now has units with two different dealers in the same instrument, therefore units in two different instrument accounts on the instrument.

When the investor wants to sell, switch  or transfer out some of the units in the instrument, the instruction needs to display the units bought through the different dealers separately, with an option to select which units, from which dealer, need to be sold.

This addition will have no visible effect on instructions of investors where all units in an instrument have been bought through one dealer.

In the example below the client bought 4.5654 units in Koikoi Commodity Fund through Potter Securities Dealers and at a later stage another 400 units in Koikoi Commodity Fund, but through Potter Securities Dealers.

The Holdings view will show the holdings in Koikoi Commodity Fund as a combined value:

In the case of a withdrawal, switch, adjustment, internal switch, re-balance, booked units, transfer out, distribution and fees, it is necessary to know which dealer or instrument account must be used. In such cases the holdings in the instrument Koikoi Commodity Fund will be displayed per dealer:

Facility to set prices on Portfolio Instruments

The system calculates the price of a Portfolio Instrument by dividing the market value of the Composed Investor account by the units issued at a specific date. This calculated price can now be set and captured for all Portfolio Instruments, for a specified date, by selecting one button. The facility to override the calculated price remains available on the Portfolio instrument and instructions:

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

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.