Midwinter's AdviceOS - Blog & FAQ

AdviceOS May 2015 Update

by / Monday, 18 May 2015 / Published in Functionality

AdviceOS May 2015 Update

With the first Opt-in statements due as of the 1st July 2015, we thought that now would be a great time to draw users’ attention to the tools that Midwinter are developing within AdviceOS to aid advisers meet their FOFA requirements.

Midwinter has also applied various other enhancements to AdviceOS during May, the specifics of which have been detailed below –

Opt-in requirements made easy with AdviceOS – Coming soon!

Midwinter is working on simplifying your Opt-in requirements, by upgrading our current Opt-in functionality to assist you with Opt-in recording and management .

The new enhancements will include –

  • The addition of an Opt-in management screen in ‘Edit Client’ for each member (Client 1/Client 2/Joint and non-individuals)  depending on whether ‘managed at group level’ has been selected.
  • The screen will show the current opt-in that the adviser is managing or working on.
  • The screen will also display all the prior opt-in records related to the member.
  • Input that will be captured will include:

– Opt-in date,
– Delivery method
– Outcome of opt-in
– Date opted in/out
– Comments

With the additional fields included, users will soon be able to manage the opt-in process via task and generate list of clients who have been sent the opt-in request and are yet to respond via Advanced Admin.

 

Compliance Alerts enhancements – added functionality

After introducing the ‘Compliance Alerts’ system last month, Midwinter has continued to develop this feature within AdviceOS. Now any file notes associated with an individual’s or related entities’ compliance items can be accessed by clicking on the the alert icons. The file notes will be displayed in a new screen, as can be seen below –

compliance

filenote

Here, any new notes can be appended to the current file notes as well as adding and replacing attachments.

Update of reverse Fact Find

As part of on an ongoing upgrade to our reverse fact find document, data previously only captured and displayed in ‘Edit Client’, now also flows into the reverse ‘Fact Find’ document.

In this month’s release we have included all information contained within the ‘Compliance and Notifications’ tab, which will now be available in the reverse ‘Fact Find’.

Insurance filter

In ‘Edit Client’, the insurance tab now contains a filter which allows users to display only the policies they wish to see (i.e enforced or lapsed etc).

insurancedevcorner

All of these enhancements have been made available for every level of user permission within AdviceOS – Dealer group, Practice and User.

Bulk function for FSG and privacy policies

With the aim of increasing practice efficiency, Midwinter has developed the ability for all users of ‘Advanced Admin’  to perform bulk FSG and privacy policy updates.

This enhancement includes the ability to bulk input details relating to –

  • the document version number
  • the date the document was provided
  • the delivery method

bulk fsg

bulktwo

This process will effectively assist users in ensuring that all clients are provided with an updated FSG/privacy policy in an efficient and timely manner, without the burden of carrying this out manually and individually.

Introducing the AdviceOS Auto-Notification report

AdviceOS now provides auto-notification reports which detail all the notifications for a practice. These reports can be generated in the ‘Quick Reports’ section of your software.

autonotifications

Datafeed enhancements

We have continued to develop the Data feeds section of AdviceOS, with the following enhancements made during May –

  • Importing ASX listed entities in a wrap via datafeeds are now set to ASX type assets in TPA. The number of shares and the share price is also automatically inserted into TPA.
  • When refreshing a data feed, if there is no APIR the unit price now remains unchanged rather than reverting to 0.
  • TPA will handle data-fed cash unit trusts more efficiently – unit prices are now set to 1 automatically rather than  users having to go into data feed settings.
  • All data feed investment options are now automatically set to “Is Units” methodology of calculating the investment holding balance (i.e. the unit price and number of units determines a data feed investment option)
  • Increasing stability when importing data feeds
  • Refreshing of data feeds now also extends to the updating of ASX share prices.
  • The MER button in ‘Super to Super’ has changed to ICR / MER to take into account Indirect Cost Ratios.
  • Intermittent issues with asset allocations not coming through with data feed investment options has been resolved.
  • Improved speed and stability when using large numbers of holdings and investment options in TPA (for clients with many products).
  • Account numbers appearing in TPA

We are and will continue to work closely with product providers and data feed providers to ensure continual improvements in our data feed functionality.

Quick print enhancements

developerscorner

SoA enhancements

“Gained and lost” features now populating through to the SOA.

 

How did you go with April’s AdviceOS enhancements?

Are you enjoying the features we added to AdviceOS last month? Do you need help getting started with any of the new functionality? Just a quick recap –

  • New ‘Compliance Alerts’ – alerts which easily draw attention to any issues pertaining to specific clients that need to be addressed from a compliance perspective. Each of the unique alerts signify different statuses/various call to actions.
  • Global task notifications – practice managers now have the option to set up alerts for specific dates that relate to certain trigger events.
  • Meeting your AML/CTF requirements – advisers are now able to directly capture a client’s identification information to satisfy AML/CTF requirements.
  • Entities tab enhancements –  functionality has been opened up to include the option to add associates and link those associates to one or more entity (SMSF/Company/Trust). Furthermore, users can now nominate a client or an associate as the email and address correspondence for each entity.
  • Data feeds – advisers are now able to add in investment holdings within TPA that are based on a direct share or a APIR code, and display the ‘last update’ date for all data feeds.
  • Additions made to the TPA module

Here at Midwinter we want to make sure you are getting the absolute best out of your software subscription. If there is anything you need help with, we have a dedicated support team on hand to answer all of your questions.

Contact Midwinter’s support team on 1300 882 938 or email us at info@midwinter.com.au and we will be happy to answer any questions you may have.

Leave a Reply

You must be logged in to post a comment.

TOP
UA-4331455-1