Release 20 May 2022 – Fee statement

Fee statement

In this release we have added functionality to enable the generation of Fee statements for Brokerages. The statement contains account details, fees taken transactions per advisor per client, a summary section with opening balance, fees received, payments made, closing balance and a notes section.See link for more details.

More changes include:

  • Add product as column to detailed account holdings download on an instrument
  • Change Card settings label on global permissions from ‘Edit …’ to ‘Detailed view of …’, to prevent confusion. See link
  • Change Account number on the dealer instruction’s instruction document to display the Supplier Account number, as we already display the instrument account number in the Remarks column
  • Add ‘No pricing available’ to inactive instrument statuses
  • Add original fee account and % together with the fee splits to Export Investors report, so that it adds up to 100%
  • Optimise performance on fee accrual
  • Add option to product to change display of ‘Early surrender fee’ to ‘Cash custody account’on the Holdings (Unadjusted View) card of accounts in the product
  • Add columns ‘Annualised Fee With VAT’ and ‘Fee on Date With VAT’ to Brokerage Card->More Actions->Ongoing fees report
  • Add Preview document to tax certificates to enable viewing of the certificate before creating the tax certificates
  • Add options to Email online application process, to be able to select if email needs to be send to Member, Adviser or Helper
  • Enable save/back button to remain visible at the top of a page, when scrolling down on a long page
  • Improve error reporting on Create dealer instruction
  • Add Price types to upload options for Finswitch realtime price upload (System->Configuration->External Systems
  • Add Third party withdrawals report (Instructions->Completed->More Actions)
  • Add Certificate detail information to Bulk processes->Certificates – Tax Free Investment/Capital Gains/Contributions/Interest and Dividend->More Actions
  • Add option to the Beneficiary card to indicate if beneficiary is Primary
  • Change system to generate contribution certificates only if contributions in the period is >0
  • Add option to System->Configuration to be able to set default Ongoing fee method and default How to calculate fees
  • Add option to System->Configuration to be able to set Payout adviser and Payout original amount as defaults when new Advisers are created
  • Create functionality to auto match bank entries on dealer instructions with status Allocated not paid
  • Change tax calculator on withdrawal to take other accounts and withdrawals into consideration. See link
  • Do not display instruments with zero balance or movements in tax period on Capital gains/Tax Free investment certificates
  • Add ability to combine payments and collections (debit orders) in a batch, while maintaining auto match facility
  • Update holdings closing balance as supplier balance on Finworks when confirming a dealer instruction with Import Finswitch (Bulk processes->Dealer Instructions->Update Contract Notes)
  • Add option to entity tax details to capture and utilise a fixed tax rate per client. See link
  • Changes to the Export Transaction Data Job (S3). See link

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