Creating a Client
Firm Plus: Setting Up a New Plan – Firm Plus
Upon Logging in, navigate to the Plan List from the link at the top of the page. You can choose to Upload or Add a Plan. Plan Upload requires an Excel template to be used to upload the plan’s fund list and asset values. Selecting Add Plan will take you to the Plan Info Screen. From here, you will complete all required fields and have the option to connect integration data by entering the plan’s provider and plan ID. Plans can be linked to specific client companies, but it is not required.
Fiduciary Focus Toolkit: Creating a Client
Upon logging in, the Client Dashboard will appear. This is like the Firm Plus Plan List. In the toolkit, you must create a client account before adding a plan. From the Client Dashboard, select +Add New Client. Enter all relevant data into the New Client Form and SAVE. After your client has been created, you can create a new account under the client and enter the plan data. You can choose to link a plan via integration, add funds/assets manually, or upload an Excel spreadsheet with fund/asset data.
RK Data Feeds
Firm Plus: Recordkeeper Data Feed Management – Firm Plus
Firm Plus requires manual mapping of data feed integrations. Once your plan has been created with the correct provider selected and the correct Plan ID has been entered, you will see the option to Manage RK Plan Data on your Fund Lineup page. You must enter the Provider Plan Import page, select the Data Import date, and then map your investments before Saving. Your fund and asset data will then populate on the Fund Lineup page.
Fiduciary Focus Toolkit: How To Link OR Import New Integration Feeds
The integration process is very different in the toolkit than the Firm Plus system. Integrations can be requested at a provider level, by navigating to the Application Management (gear) icon in the upper right-hand corner and accessing the Integrations tab. You can follow the instructions on this page or contact fi360integrations@broadridge.com for assistance. If you are part of an enterprise, your data feeds may be connected for you. Once the integrations have been approved, you will see a “Blue Bar” at the top of your Client Dashboard with a button to Import Accounts. From the Import Provider Data page, you can select which accounts you would like to have imported into your dashboard. The system will create a new client for you and link your plan data.
The toolkit offers the ability to household accounts. From the import screen, you can toggle on the Householding feature and then select which accounts should be available under a shared client.
If you have previously created client accounts, you can use the link to provider option to add connections to existing accounts.
Evaluation Criteria/ Watchlist triggers
Firm Plus: Evaluation Criteria – FirmPlus
Evaluation Criteria are used to score investments in a Plan's fund lineup. Firm Plus offers 3 different criteria types -- Active Fund, Passive Fund, and Target Date Fund scoring. Active Fund criteria are always on. Passive and Target Date Fund scoring can be turned on optionally on a Plan basis.
From the fund lineup page, navigate to the Menu, then select Setup, and access the Fund Evaluation tab. You can then select from several options to create your own evaluation criteria/score for the plan.
Fiduciary Focus Toolkit: How to Create Custom Watch List Triggers
Evaluation Criteria are known as Watchlist Triggers in the Fiduciary Focus Toolkit. Watchlist Triggers can be created by navigating to the Application Management (gear) icon in the upper right-hand corner and accessing the Watchlist Triggers tab. Click the +Add New Trigger button to select your criteria. The toolkit offers the ability to set required and flexible criteria. Required Triggers are based on the individual performance of that one data point. If your fund fails one (1) of the Required Triggers the fund will appear on your Watch List. Flexible Triggers can be a group of several data points where you select a threshold that must be met for a fund to PASS. This is similar to Firm Plus.
Using the drop-down, you can add as many separate data point triggers as you desire. The toolkit allows you to set an individual data point threshold based on ‘Periods’ or 'Quarters' and indicate whether NULL VALUES should pass or fail. A NULL VALUE means that the fund is missing a particular data. For example: if you have a criteria point selected for 5-Year Return - % rank but a fund is too new to have that data available, a NULL VALUE will result.
Once you have created your desired trigger set, you will be able to use it in your client account. Triggers are assigned in the Investment Policy area of your client account. You are not required to create an IPS document, but you must add the Watchlist Criteria before the account can be monitored.
Watchlist Overrides
Firm Plus: You can choose to score or not score individual investments from your Fund Lineup page. By checking the box next to the investment and then accessing the Action dropdown. You can choose to include or remove a fund’s score.
Fiduciary Focus Toolkit: Watch List Overrides
The toolkit allows you to override your triggers for specific funds. You can choose to always place a fund on or off the watchlist regardless of the investment data. You can choose to have an override be plan-specific or take effect across your entire book of business.
Investment Policy
Firm Plus: Investment Policy Statement – Firm Plus
You can assign an IPS to a plan by accessing the MENU from the Fund Lineup page of your account. Toggle to the Setup option and select the Plan Configuration tab. Enter the Investment Policy link to either download a draft IPS using the IPS templates saved in your account or upload your own outside document.
Fiduciary Focus Toolkit: Investment Policies
The toolkit comes with several different IPS templates. There are templates available 3(21), 3(38), Defined Benefit, Foundation/Endowment, Individual/Family or Personal Trust accounts. You can choose to use any of the preset templates in your account or create your own. Investment Policy Templates
Investment Policies can be created within the client account by accessing the Investment Policy tab (same area you assign your triggers). Use the +ADD NEW POLICY button and toggle on the “Would you like to generate the Investment Policy Statement (IPS) document now?” option. You can then select which template you would like to assign and follow the prompts on the screen.
Creating Reports
Firm Plus: Generating Reports – Firm Plus
Firm Plus offers 3 report options, Investment Monitoring, Fee Analysis/ benchmarking, or Lineup Comparison.
The most used template is the quarterly Investment Monitoring Report. From your Fund Lineup Page, navigate to the MENU and access the Reports tab under the Management setting. Select the report type, configure the report layout, or choose from a preset template and then generate your report.
Fiduciary Focus Toolkit: Generating Monitoring Reports or Research Reports Within a Client
The toolkit offers a wide variety of reporting options. Monitoring reports can be created under the Monitoring Reports tab within the client account if monitoring criteria have been created. Monitoring Reports use quarter-end performance data. You can choose from one of the default templates or create your own. (How to Create a Custom Report Template )
The toolkit offers the ability to generate research reports from the fund lineup area using quarter or month-end performance data. Research Reports can also be generated from the Investment Screener.
Proposals are also available from your client account. PROPOSALS The proposal feature in the toolkit can allow you to create side-by-side comparisons of current vs proposed accounts or generate a stand-alone proposal.
Batch reporting/PAM
Firm Plus: Plan Advice Manager – Firm Plus
Firm Plus’ Batch Report generation is known as Plan Advice Manager (PAM). You must opt-in for use with PAM from the Plan Info page. PAM can help automate the quarterly review process. You can Analyze, Review, Generate Reports, Initiate Fud Change requests, and email reports directly to your clients.
Fiduciary Focus Toolkit: Batch Monitoring Reports
The toolkit offers the ability to run batch monitoring reports across multiple clients using the same report template option. There are 4 steps or actions that comprise the Batch Reporting process. Generate, Download, Complete, and Reproduce.
The toolkit currently does not have the functionality to email reports directly to clients, but workflow enhancements are on the roadmap.
Investment Commentary
Firm Plus: Investment Comments can be added by selecting the ‘chat box” next to the investment from the Fund Lineup Page. You can enter a plan-specific comment or use a master comment.
Fiduciary Focus Toolkit: Investment & Client Notes
Investment Notes can be added on a plan-specific or book-of-business basis. Navigate to the investments tab from the Client Dashboard. Search for the fund you wish to add comments to and enter the Investment Notes tab. You can use the +NEW INVESTMENT NOTE button to add comments. The toolkit allows you to decide if you would like to have comments appear on the monitoring reports or not, be applied across multiple accounts, or apply to all share classes. You can also add an as-of-date to your comments.
Fund Research
Firm Plus: Fund Line-up – Firm Plus
Firm Plus allows you to use the ADD FUNDs option from within the Fund Lineup page of your account to search for comparable investments using your plan evaluation criteria. The system also offers the Fund Search area to search for investments and add funds directly to your client account.
Fiduciary Focus Toolkit: How to Use the Investment Screener
The toolkit has a separate fund research tool called the Investment Screener. You can select various data points to search for funds and generate month or quarter-end research reports.
Separately, you can search for proposed investments from directly in the client account by accessing the ‘Find Similar Funds’ feature. Find Similar Funds