Release 28 January 2022 – ‘Ready to Recur’ Status on recurring instructions

‘Ready to Recur’ Status on recurring instructions

In this release a new status ‘To Recur’ has been added to Recurring instructions.

Historically, when a recurring instruction is authorised, the next recurring instruction (for instance for the next month) is created with a status of Submitted (Auto recur) and validations are performed on the new recurring.

Changes might, however, occur on the account during the period between when the Submitted (Auto recur) instruction was created and validated and the point at which it executes. For instance initial fees/commission can change on the account or a fund into which the recurring invests might close, which influences the validated Submitted (Auto recur) instruction.

The addition of the status ‘Ready to Recur (auto recur)’ enable validations to happen at a stage just prior to executing the recurring and taking changes made on the account or funds into consideration when doing the validations. The status of ‘Ready to Recur (auto recur)’ therefore replaces the status of Submitted (Auto recur) (from the point of view of the user) on a recurring instruction.

More changes include:

  • Add Custodian report to Custodian Card->View Details->More Actions. See link
  • Add Combined holdings summary graph section to statement defaults on combined statements
  • Add ‘Documents’ to Model Portfolio instruments.  Model Portfolio Card->More Actions
  • Add column ‘Commencement date’ to ‘Create Debit Order File’ screen
  • Add substitutes for {statementFrequency}, {statementFromDate} and {statementToDate} to Statement to adviser – and Statement to Client email notification messages
  • Add Settlement date to dealer/instrument instructions
  • Convert investment next recurrences in a series where the first recurrence was captured in amount to percentage to accommodate initial fee changes on an account
  • Add Accrued Fees (Not accrued) report that display accounts where ongoing fee types does not accrue since the relevant fee type is not defined on the investor accounts’ products. See link
  • Change ‘Advisors to payout’ report for configurations where fee portfolios are combined to ‘Brokerages to payout’ report. See link
  • Add setting to System->Configuration to exclude small amount on Advisers/brokerages to payout reports and Payment of fees job. See link
  • Allocate dealer over buy units to working portfolio to prevent investor account cash from going negative
  • Change Upload Contract Notes format
  • Add ‘Save selected sections to account’ button to Choose sections on a statement. Changes made by a user to selected sections on an account will return to the default, except if the button is selected. See link
  • Add sub-totals to the Financial Analysis report
  • Add compulsory and voluntary draw-down rates to System -> Needs analysis defaults
  • Prevent importing of true notification preferences on an entity if email/cellphone fields are empty
  • Change Income and Risk section on an account
  • Add an escalation frequency to a recurring investment and recurring withdrawal
  • A permission has been added for accessing the Application Program Interface (API). See link
  • Changes to the Export Transaction Data Job (S3). See link
  • Changes to the Import Contract Notes file headings. See link

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