You can always check out our release notes for the detailed write-ups, but here is a high level summary grouped by functionality that's been released over the last 2-3 years.
Batch/Bulk Utilities
- Ability to mass import many clients at once from an integration, establish and execute the watch list triggers and load their monitoring report.
- Ability to mass apply new watch list triggers (due diligence criteria/scoring criteria) across any subset of existing clients
- Ability to mass apply an investment’s ‘action’ (watch/replace/proposed/none) across any subset of existing clients that hold the fund
- Ability to mass generate monitoring report PDFs for any subset of existing clients
- Ability to mass download monitoring report PDFs for any subset of existing clients
- Ability to mass add a proposed investment to any subset of existing clients and auto-map it to the investment being replaced
Report Design & Branding
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Underlying reporting infrastructure was 100% replaced allowing for increased performance, design and scalability
- No waiting in the queue behind other users
- Scalable so quarter-end high usage does not impact timeliness to get a report
- Underlying design framework allows for high quality custom output (instead of relying on a more rigid editor)
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New Report Sections for Investment Monitoring and Research
- Executive Summary which shows the trends of either the Fi360 Score or your custom score over the past 12 quarters
- Generic Investment Factsheet showing important investment metrics in a 1-page per fund format. This can show or hide a variety of scoring systems.
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Report configurations enhanced for more control on the output. Examples include:
- Changing the Score parameters on the Scatterplot
- Only including funds on watch vs all funds
- Customizing the metric tiles on the State of Affairs
- Table of contents with page numbers and interactive deep links to the individual sections
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Custom Report Sections can be included within a report template
- Allows users to create their own report sections with text/tables/images and have them included with their client reports.
- PDFs can be uploaded as a custom section for inclusion alongside standard report sections
- Access to Fi360 produced content including quarterly market commentary, a quarterly fiduciary regulatory update and others to come.
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Firm-specific settings to establish guidelines for report content
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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.
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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)
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Landscape and Portrait orientation options
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Custom Branding
- Custom cover page designs with background images and editor capabilities
- Header and footer background images
- Color schemes can be applied across main report elements
Proposal Generation
- Ability to easily compare an existing client to one or many proposals
- Ability to compare total plan costs alongside plan investments in one report side by side
- Ability to compare 2 to 4 accounts/proposals in one report
- Ability to map current investments to proposed investments and include mapping detail in both EXCEL and PDF outputs
- Ability to auto-populate a proposed lineup based on a configurable set of parameters.
- Efficient proposal creation and activation: Copy an account to create a proposal based on an existing account's investment and cost profiles. Once the proposal is complete and approved by your client, you can now activate the proposal. This allows you to either replace the existing account or add the proposal details to a future quarter.
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Cost and style in proposal reports: Two new sections are now available to further help you explain costs and diversification. The Cost Breakdown section provides details on how fees are assessed including one time setup costs while the Style Summary easily points out gaps in investment offerings.
Fund Actions
- Ability to store holdings data, watch list status and fund action by quarter. This allows for;
- Monitoring reports to be produced on any given historical quarter
- Monitoring reports to include trends of investments and watch list status such as the number of quarters a fund has been on watch
- Monitoring reports to include the fund ‘action’ next to wherever the investment name appears in the report.
- Ability to include and designate ‘Proposed’ holdings within a Monitoring report so they can be shown side-by-side with all of the current investments.
- Ability to save and track monitoring report production over time including the ability to download historically generated reports.
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An integrated investments 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.
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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
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Configurable Columns in the Holdings Tables
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You can 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 so you don’t need to run a report to see the details you commonly need to reference.
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The Client Account Holdings, Proposal Holdings and Investments drill-in all now support their own configuration option.
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Ability to automatically analyze investment trends for watch/remove status
- Pick how many past quarters an investment can fail before it get flagged for 'watch'
- Separately this can also be applied for 'remove' status to automate this process
- Pick how many past quarters an investment can fail before it get flagged for 'watch'
Due Diligence Criteria (Custom Scoring)
- Ability to design a custom scoring system which utilizes customized weightings for each criteria resulting in a score out of 100.
- Ability to use performance compared to index data points within your due diligence criteria.
- Introduced many new data points to include as part of the criteria including up/down capture, information ratio, beta, tracking error, sortino ratio, yield and others. Full list can be found here.
- Ability to select different scoring criteria by investment type including active, passive, target-date funds and money market/stable value.
Model Portfolio Reporting
- Model Factsheet available for ‘hypothetical’ and ‘historical’ allocation methods. Hypothetical based on current allocations only while historical taking into account changes in funds/allocations over time.
- Ability to upload many models and underlying fund allocations over time via EXCEL
- Newly designed factsheets which include the Fi360 Score and blended benchmark statistics for alpha and up/down capture.
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Portfolio/Model Performance Report Section Updates
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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. This tab will allow you change the max fee from 3% to a different number or turn it off by setting to zero.
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Investment Screener
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Over 80 new data points in addition to the 177 previously existing data points are available for your custom screening and monitoring. Full list can be found here.
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Excel export can be configured to include any data points which were setup in the search allowing for more detailed and targeted EXCEL data files
- Saved search layouts can be exported from any Client's Holdings table.
- We directly collect and maintain the available investment lists across all of the major 401k recordkeepers and their various products.
- These lists can be used as a search filter when looking for new investments to ensure they can be utilized within that provider/product/plan.
ESG
- Ability to search and filter for investments that score well at an overall ESG level or at a more granular E, S, or G level.
- Partnership with Owl Analytics
Investment Commentary
- Commentary can be mass uploaded and downloaded via EXCEL across your book of business/
- Commentary can be applied across all share classes of a fund and across all clients.
Custom Investments
- Custom investment data can be uploaded via EXCEL for a given fund or mass uploaded for many investments at a time.
Integrations
- Workflow Automation (Webhooks) enables you save time and reduce mistakes by connecting the Toolkit to automation tools and applications you already use. This open-architecture integration has endless possibilities but common examples include emailing and saving reports automatically for clients.
- Important Investments by Uploading a PDF so you can quickly save them in the tool for report generation
- We continue to increase and maintain the list of integrations available for client data imports and automatic refreshes.
- Introduced the User Provided Excel format so that users can regularly provide us bulk data on clients/holdings, and it can be mass uploaded and sync’d without any manual work.
Benchmarks
- Fi360 has continued to license many of the major indexes even though licensing costs have gone up 3-4x in many cases.
- Added client level index assignments instead of requiring a global index assignment for an advisor
Stable Value
- Fi360 introduced a new repository of Stable Value data which we collect directly from managers so that it includes many of the unique data elements applicable to this investment type.
- Fi360 is providing access to specially designed Stable Value Factsheets to assist with fund due diligence and comparison.