CREATING A CLIENT
Please follow the steps below to create a client within the Fiduciary Focus Toolkit™.
1. Navigate to the Clients tab under your Book of Business on the left side of the screen. Click the '+ADD NEW CLIENT' button in the top right corner.
2. Add all of the relevant information into the 'New Client' form and click the 'ADD' button. It will turn orange once you've input all of the required fields (Client Name, Client Type, and Client Status).
IMPORTANT NOTES:
- the Client Type CANNOT be edited once a Monitoring Report has been created.
- the Client's Name name can be edited at any time by clicking the 3 vertical dots (highlighted below) at the far right of the row with your client's name (in the CLIENTS list) and then clicking on EDIT CLIENT.
CLIENT STATUS FILTERING
When you select the CLIENT STATUS you will have 3 options:
- Current
- Former
- Prospective
Each time you enter your toolkit account - PLEASE NOTE that your Client List - by default, will always show the clients with a Current status.
- You can locate and view those clients that were created as Former or Prospective by selecting either of those statuses in the dropdown at the top of your Client List - or by selecting ALL (please see below).
3. Add the account(s) that you are responsible for. You can create the account(s) manually or by importing data from an integration provider.
4. Add the Account Name, Type/Sub-Type, and click the 'ADD' button. It will turn orange once you've input all of the required fields.
5. After adding the Active Account, you will arrive at the holdings screen. There are three ways to add holdings; via integration, excel, or manually entering the ticker, name, or CUSIP.
HOW TO UPLOAD HOLDINGS VIA EXCEL:
Please format the file appropriately (use the template below for reference). This option will allow you to update several funds at one time along with the asset values.
Click on the upward arrow on the top right and select 'From Excel.'
In the next screen you will select your Excel or CSV file (from your computer) that you would like to use for the upload. Select the type of Identifier and assign your Excel columns to the appropriate value, then click Import.
A summary of what uploaded will appear, and then click the small X for your upload to process.
To MANUALLY add new holdings:
Click on the +NEW HOLDINGS button. Type in the Cusip, SEC ID, or Ticker, then click the the find tickers or CUSIPS button - then click ADD.
To EDIT the Asset Values and the ASSETS AS OF date click the pencil icon.
You will be able to change the Assets As Of date on the top left and the individual asset values down the right column. Once you have made your updates be sure to click the SAVE button in the upper right area.
6. After you've added holdings to your client's account, you can get back to your original client screen by clicking on the client name in the uppermost top left corner of your screen.
7. Add an Investment Policy Statement by navigating to the Investment Policies tab, and clicking 'ADD NEW POLICY.'
The use of an Investment Policy Template is not required. Client Monitoring can be activated without the creation of the Investment Policy Statement - simply do NOT select a template. Even if you do not want to produce a new Investment Policy Statement, you will still need to assign watch list triggers to the client account.
Name the IPS, enter a description (optional), choose an Investment Policy Template (optional - NOTE: if you will not be using an Investment Policy template then leave the toggle switch RED), and select the accounts to associate with the Investment Policy (Statement).
Next, select the watch list triggers that you wish to use to monitor your client’s investments. You can use a unique trigger for each investment type (active, passive, money market/stable value, and target date investments). You have the option to use our “Home Office Default” trigger, use a custom Watch List Trigger, or select “No Trigger” if you do not wish to utilize an automated process to put investments on the watch list.
If you have chosen to use an Investment Policy template, and the template specifies peer group allocation, select the peer groups that will be used within your client's account and then complete the Investment Policy Statement questionnaire (NOTE: this step is only applicable if you selected an Investment Policy Template).
The 4th tab will only appear if you are using a Template. This is where you will answer any questions applied to the template. There are editable sections within this tab so if you need to change the wording you are able to do so from this section. Please answer all applicable questions.
Lastly, generate the client ready deliverable (which removes the “NOT FOR CLIENT USE” watermark and saves a copy of the IPS for future reference) and activate the policy.
8. Once an Investment Policy Statement is activated for a Client, you can click on the Monitoring Reports tab and view their Monitoring Report. (You can follow this link for examples of default report templates).
Please note, if you wish to remove a client from your Fiduciary Focus Toolkit, click the action button “⋮” to the right of the client name on the 'Book of Business' home screen, and select 'Archive Client'. You will be able to recover the archived client if needed by selecting the down arrow (seen below) and selecting 'Archived Clients.' From here, you can select the 'Recover Client' icon on the right side of the screen to bring them back to your 'Book of Business.'
Client Dashboard Enhancements
When viewing your Clients dashboard, you will now notice a 'Feed Updated' column. This column will only apply to clients that are currently linked to an integration provider. The 'Feed Updated' column will always display 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 reflect the 3rd quarter for the year, i.e., Q3 2021, 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.
Additionally, the 'Latest QTR' column header has been 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. 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.
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 generated.
Finally, the 'Assets As Of' column has been relabeled 'MR Assets As Of' and the 'Assets' column has been relabeled 'MR Assets.'