Our first release of the new year is highlighted by an updated batch import screen to more quickly and easily import plan and client data from your integration partners! Please review the help articles related to these updates or contact our support team for help!
Enhanced Feature – Bulk Importing Accounts
Enabling the efficient importing of your plan and client account data from our integration partners continues to be a key area of focus. Based on your feedback, you’ll now see the following benefits when importing your data.
- You can easily find plans/accounts by filtering on the provider name or searching by the account name.
- Users can now household multiple accounts under one client and choose whether you want one consolidated Monitoring Report or separate monitoring reports for each account. This is a huge time saver especially for users who have a high number of integrated wealth accounts. Previously users needed to create individual clients manually and then link accounts one-by-one to household integrated accounts.
- For clients who have access to Fi360’s Business Intelligence product, the list of plans you see in BI will now automatically be available to import into the Toolkit (if not already linked). This removes the need to maintain provider links and advisor identifiers in Settings or to individually lookup a plan by account number and asset value.
- When importing large amounts of clients (150+), the process will now be kicked off in the background allowing you to continue to work in the system, or to log off and return later, while the import is processing.
Updated Feature - Enhanced Client Dashboard
The client dashboard is a critical component of our software. Every user sees it upon accessing the Fiduciary Focus Toolkit and relies on it to see the state of their clients at a glance. Several updates were made to refine the information seen here:
- A new column was added for ‘Feed Updated’. This only applies to clients which are connected to an integration provider. This column will always show the most recent holdings ‘as of date’ that was processed for that client. For example, if you logged in on January 2nd and were connected to John Hancock Retirement Plan’s data feed, you would have seen that all your plans have already loaded the 12/31 holdings data. Since the investment data is not yet available for 12/31, the Latest MR will still be Q3 2020, but you can now easily see the 12/31 holdings data is already loaded and is awaiting the investment data update. Overall, this visibility will lead to more timely reports being delivered with less uncertainty about expected timing of updates.
- The “Latest QTR” column header was renamed “Latest MR” to better reflect the quarter end monitoring report that is available. This can also be thought of as the Morningstar investment data ‘as of’ date. Or in other words, it can but used as an indicator that the latest data is available and that it might be time to run the report. No change was made to the way the data shows in this column, rather it was just relabeled.
- The “Report Status” column header was relabeled “MR Status” to better differentiate the Monitoring Report status (draft, unmonitored, etc) from the ad-hoc research reports that can be ran. This is another simple change of the label. The information that shows here is the same and continues to let users know where they stand in the process of delivering monitoring reports.
- The “Assets as of” column has been relabeled “MR Assets as of” and the “Assets” column has been relabeled “MR Assets”.
- Page load time was also optimized. Users with many clients previously had to wait for the page to load then search or scroll to find the client they need. Now, for client lists over 250, the page loads quicker and prompts you with more options to find the client you want. The options include filtering by provider and/or searching by client name.
- Centre for Fiduciary Excellence (CEFEX) continues to become more closely integrated with FI360. CEFEX’s Firm-Level Fiduciary Certification help firms demonstrate a commitment to the highest level of fiduciary standards. As part of this initiative, CEFEX certified firms are now publicly displayed and searchable, much like the AIF designee search. With this release, the CEFEX search is now found alongside the current page used to search for designees. Just click Find a Fiduciary on the Fi360.com homepage to see for yourself.
Data Point Availability Update
- Morningstar’s Socially Responsible data point was retired and removed from the Investment Screener. Replacement SRI/ESG screening criteria and lists are being considered and will be implemented once available however for the time being, users are encouraged to upload their own socially responsible investment lists for screening.
Fiduciary Focus Toolkit Bug Fixes
- Fixed an isolated issue where client account assets could not be saved when there was an inactive benchmark associated with the account.
- Fixed an issue where the investment status (remove, watch, proposed) was not showing for custom investments in the Investment Performance report section.
- Corrected an issue where, on certain months, the incorrect date was shown on the standardized performance disclosure. Going forward, this report section will always show the quarter end date as per the industry requirements for this type of disclosure.