Datafeed - Administration: Badge-to-Badge Account Transfers

Datafeed - Administration: Badge-to-Badge Account Transfers

Badge-to-Badge Account Transfers Overview

When the badge-to-badge transfer of your client’s Asgard, BT or Panorama account has been completed, you will need to:

  1. Update the datafeed for the account in Portfolios (IPS).

  2. Update the details of the account in Client Focus.

Going forward, this will enable you to model your recommendations for the client’s account in WealthSolver, and ensure the product’s name and fees are displayed correctly in your reports and advice documents.

 

Update the datafeed for the client’s account in Portfolios (IPS)

When a datafeed is mapped to your client, a Portfolio Account will be automatically created for the client in Portfolios (IPS) (at Portfolios > Portfolio > Position). After the badge-to-badge transfer of the client’s account has been completed, the steps to follow to update the datafeed will be based on if the new account has:

  • The same account number under the same adviser code; or
  • The same account number under a different adviser code.


Same account number under the same adviser code

If your client’s new account has retained the same account number under the same adviser code, the datafeed will not automatically update the Portfolio Account name (or description) in Portfolios (IPS).

To manually update the Portfolio Account’s name: 
  1. Search for and select the client’s (or entity’s) record.
  2. Go to Portfolios > Admin > Cash & Accounts.
  3. In the Portfolio Accounts panel, locate the account and click on the edit icon:

    Screen_Shot_2018-10-24_at_12.54.58_PM.png

  4. Update the Account name in line with the new account:

    Screen_Shot_2018-10-24_at_12.55.02_PM.png

  5. Click Ok.
  6. You may also need to refresh the datafeed for your client’s account to re-establish the datafeed connection.
    To refresh the client's datafeed, go to Portfolios > Admin > External Accounts. Click on the drop-down arrow on the account and click Refresh.

Same account number under a different adviser code

If there is a change in adviser code, the datafeed for the old account will cease and a new datafeed will be received under the new adviser code. In this case, you will need to:

  1. Set up the datafeed for the new adviser code.

    You may need to register the new adviser code for the datafeed by contacting the data provider. Once confirmed by the data provider that your registration request has been actioned, you will then need to set up the datafeed in XPLAN. To find out how, in the XPLAN Hub go to Datafeeds > Setting up datafeeds.

  2. Ensure the new datafeed is mapped to the client.

    The new datafeed will be automatically mapped to your client when they are registered with the data provider under the exact same name as recorded in XPLAN.

    In some cases however, such as when there are slight differences in the client’s name with the data provider and in XPLAN, you may need to manually map the datafeed. For step-by-step instructions on how to manually map the datafeed to the client, in the XPLAN Hub go to Datafeeds > Mapping datafeeds to clients.

  3. Re-link the account recorded in Client Focus to the new Portfolio Account.

    For instructions on how to re-link the Client Focus and Portfolios (IPS) accounts, refer to Step 5 below for the appropriate account type in Update the details of the client’s account in Client Focus.

Update the details of the client’s account in Client Focus

To update the details of your client’s account in Client Focus after the badge-to-badge transfer has been completed:

For Investment accounts:

  1. Search for and select the client’s (or entity’s) record.
  2. Go to Financial Details > Assets & Liabilities.
  3. Locate the client’s investment account and click on the edit icon:

    Screen_Shot_2018-10-24_at_2.04.38_PM.png
  4. Update the Description and Platform Selection in line with the new account:

    Screen_Shot_2018-10-24_at_1.59.05_PM.png

  5. You may need to update the link to the corresponding Portfolio Account in Portfolios (IPS). To update the link:
    1. For further information about when this step is required, refer to Update the datafeed for the client’s account in Portfolios (IPS) above
    2. In the Funds tab, click on the Link Portfolio Account edit icon:

      Screen_Shot_2018-10-24_at_1.59.09_PM.png

    3. Select the new Account:

      Screen_Shot_2018-10-24_at_1.59.14_PM.png

    4. Click Ok.

  6. Click Save.

For Superannuation and Pension accounts:

  1. Search for and select the client’s (or entity’s) record.
  2. Go to Financial Details > Superannuation.
  3. Locate the client’s Superannuation or Retirement Income Plan and click on the edit icon:

    Screen_Shot_2018-10-24_at_2.29.18_PM.png

  4. Update the Super/Retirement Plan Selection and Super/Retirement Plan description in line with the new account:

    Screen_Shot_2018-10-24_at_2.29.23_PM.png

  5. You may need to update the link to the corresponding Portfolio Account in Portfolios (IPS). To update the link.
    1. For further information about when this step is required, refer to Update the datafeed for the client’s account in Portfolios (IPS) above
    2. In the Details tab, click Link:

      Screen_Shot_2018-10-24_at_2.29.27_PM.png

    3. From the Account dropdown list, select the new Portfolio Account:

      Screen_Shot_2018-10-24_at_2.29.32_PM.png

    4. Click Ok.

  6. Click Save.

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