Helping you spend less time in the Toolkit and more time growing your business is always top priority in our product development roadmap. At the heart of this release, are two brand new features to help you do just that.
Find Similar Funds and Map to Another Holding…an integrated replacement process
When a client’s investment needs replaced, you can now “find similar funds” which will open the screener with a list of similar, favorable replacement funds pre-populated for you. Behind the scenes we are taking the watch list criteria applied for that client and investment type and populating a list of the top investments to consider as replacements. Once your research is completed, any selected funds are passed back to the client account(s) and mapped to the initial fund to be replaced so they can be clearly illustrated in the Monitoring Report State of Affairs as a pending change(pictured below).
To get started, access your client account, go to their holdings page and click the three dots on the right side of the screen next to the holdings you are proposing to change. Finally, click "Find Similar Funds" to start the process.
Some more details:
- You can manually map any fund with the action of "proposed" to any other non-proposed investment in the client account by clicking the three dots on the right side of the screen and clicking "Map to Another Holding". This is another way resent the information like you see above in the State of Affairs report section.
- You can globally find a similar fund in the Investments tab. Finding a similar fund here will add that fund as a proposed fund into all the accounts that hold the fund you originally selected. So consider following this process if you use the same investments in many different accounts as it will save you considerable time updating holdings.
Configurable Columns in the Holdings Tables…investment scoring at a glance
Our holdings pages now support an option to configure the data elements you want to see such as the Fi360 scores and/or your custom watch list scores. This provides you critical details at a quick glance as you don’t need to run a report to see the details you commonly need to reference. The Client Account Holdings, Proposal Holdings and Investments drill-in all now support their own configuration option.
Portfolio/Model Performance Report Section Updates...more configuration options
To address feedback related to the SEC marketing rule, a new "report controls" tab was added within settings to allow for configuration of the Max Fee. The firm you work for may need to approve your use of this new tab and therefore it may not be available immediately for all our subscribers. When available, this tab will allow you change the max fee from 3% to a different number or turn it off by setting to zero.
A new Since Inception return column was also added to the portfolio/model report sections to further address requirements and feedback related to the SEC Marketing Rule. This gives a more complete picture of performance metrics when 10 year return is not available.
Cost Report Enhancements...more clearly show fees for a wider range of scenarios
Fee schedule descriptions were added to the monitoring report to help you and your clients more clearly see and understand how the fee was calculated when a fee schedule is applied to the account. Instead of simply saying Calculated using a Fee Schedule, reports will now systematically explain the underlying fee calculation based on assets participants and your associated tier. Consider entering your fee schedule into a cost profile so that you can easily apply it across clients, and now, more clearly show the basis for the fee in the report.
One time fees can now show as stand-alone costs in the cost breakdown report section. Helpful for highlighting fees that are not typically charged annually, one time setup and as incurred fees can now be highlighted for startup, transfer, single transactions and a variety of other scenarios. Just select One Time Setup in your cost profile and you'll be presented with the option to make that setup or as incurred.
Report Controls...firm-specific settings to establish guidelines for report content
Capabilities have been added to allow enterprise customers the ability to hide and enforce report sections that their subscribers can or cannot use. This aides with policy enforcement while allowing advisors the flexibility to create custom report templates within those guidelines. Further, global disclosures can be added at an enterprise-wide level so that any specific language that's needed in a report footer can now be automatically applied to every report. That is configurable by report template type (Research, Monitoring, Proposal)