Summary

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Details

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Content

...	...	@@ -34,25 +34,25 @@
34	34
35	35	To create a new Investment Fee Type go to Administration → Financial Settings → Investment Expense Settings → Investment Fees:
36	36
37		-[[image:image-20250206075326-2.png]]
	37	+[[image:image-20250206093912-38.png||data-xwiki-image-style-alignment="center" height="548" width="865"]]
38	38
39	39
40	40	A screen with 2 tabs will open. Make sure you are on the Fee Scale Tab:
41	41
42	42
43		-[[image:image-20250206075326-3.png]]
	43	+[[image:image-20250206092457-2.png]]
44	44
45	45
46	46	Any previously created scales will appear on this screen:
47	47
48	48
49		-[[image:image-20250206075326-4.png]]
	49	+[[image:image-20250206092517-3.png]]
50	50
51	51
52	52	Double clicking on the view scale hyperlink, will populate a section at the bottom of the screen, which displays the scale for that levy:
53	53
54	54
55		-[[image:image-20250206075326-5.png]]
	55	+[[image:image-20250206092559-4.png]]
56	56
57	57
58	58	As can be seen in the example above, you can create an scale based on an asset range, an asset fee% and a fixed amount.
...	...	@@ -61,13 +61,13 @@
61	61	To create a NEW Scale, double click on the “Click here to add a new row” field, on the TOP section of the screen:
62	62
63	63
64		-[[image:image-20250206075326-6.png]]
	64	+[[image:image-20250206092619-5.png]]
65	65
66	66
67	67	Populate the fields as below:
68	68
69	69
70		-[[image:image-20250206075326-7.png]]
	70	+[[image:image-20250206092636-6.png]]
71	71
72	72
73	73	**Investment Scale ID**: do not populate, this will be auto-created by Everest
...	...	@@ -86,7 +86,7 @@
86	86	In the example image below, the new fee would be for Fund Levies, using the Opening Fund Credit Value.
87	87
88	88
89		-[[image:image-20250206075326-8.png]]
	89	+[[image:image-20250206092653-7.png]]
90	90
91	91
92	92	Select “**Update**” once all fields have been populated.
...	...	@@ -95,13 +95,13 @@
95	95	To populate the scale to be applied, double click the view scale hyperlink:
96	96
97	97
98		-[[image:image-20250206075326-9.png]]
	98	+[[image:image-20250206092711-8.png]]
99	99
100	100
101	101	Populate the applicable scale in the section that opens at the bottom of the screen:
102	102
103	103
104		-[[image:image-20250206075326-10.png]]
	104	+[[image:image-20250206092727-9.png]]
105	105
106	106
107	107	Note about the Fee Fixed Amount field – this is an ANNUAL amount. i.e. if 2 500.00 must be applied per month, then this field would be populated with an amount of 30 000.00.
...	...	@@ -110,7 +110,7 @@
110	110	Save the changes made:
111	111
112	112
113		-[[image:image-20250206075326-11.png]]
	113	+[[image:image-20250206092739-10.png||data-xwiki-image-style-alignment="center"]]
114	114
115	115
116	116
...	...	@@ -119,23 +119,23 @@
119	119
120	120	Select the Investment Expense Tab:
121	121
122		-[[image:image-20250206075326-12.png]]
	122	+[[image:image-20250206092757-11.png]]
123	123
124	124	Any previously created Investment Expenses will appear on the screen:
125	125
126		-[[image:image-20250206075326-13.png]]
	126	+[[image:image-20250206092812-12.png]]
127	127
128	128
129	129	To create a NEW Investment Expense, double click on the “Click here to add a new row” field, on the TOP section of the screen:
130	130
131	131
132		-[[image:image-20250206075326-14.png]]
	132	+[[image:image-20250206092844-13.png||data-xwiki-image-style-alignment="center"]]
133	133
134	134
135	135	A popup will open as below:
136	136
137	137
138		-[[image:image-20250206075326-15.png]]
	138	+[[image:image-20250206093012-15.png]]
139	139
140	140
141	141	**NB! When adding a new expense, make sure you understand if the fee must apply to ALL clients, specific clients, ALL products, specific products OR if the client/product must be excluded from the bulk monthly calculation.**
...	...	@@ -174,28 +174,24 @@
174	174
175	175	**//Apply fee to the whole Parent~://**
176	176
	177	+[[image:image-20250206093121-19.png]]
177	177
178		-[[image:image-20250206075326-16.png]]
179	179
180		-
181	181	**//Exclude product from whole Parent//**//- ** **this will exclude the whole product  from ALL fee calculations~://
182	182
	182	+[[image:image-20250206093045-17.png]]
183	183
184		-[[image:image-20250206075326-17.png]]
185	185
186		-
187	187	**//OVERRIDE fee at client level – //**//If a fee is applied to a client, it will override ALL fees loaded at Parent level, and therefore you must load a fee, for that client, for ALL fees that must be applied to that client~://
188	188
	187	+[[image:image-20250206093103-18.png]]
189	189
190		-[[image:image-20250206075326-18.png]]
191	191
192		-
193	193	**//Exclude Client from fee calculation //**//– this will exclude the whole client from ALL fee calculations~://
194	194
	192	+[[image:image-20250206093148-20.png]]
195	195
196		-[[image:image-20250206075326-19.png]]
197	197
198		-
199	199	= (% style="color:#2980b9" %)**Member Level Broker Fee Setup**(%%) =
200	200
201	201
...	...	@@ -203,22 +203,21 @@
203	203
204	204	To create the Brokerage, go to People → Brokerage:
205	205
206		-[[image:image-20250206075326-20.png]]
	202	+[[image:image-20250206093215-21.png||data-xwiki-image-style-alignment="center"]]
207	207
208	208	A screen will populate with all current Brokers loaded on the system:
209	209
210		-[[image:image-20250206075326-21.png]]
	206	+[[image:image-20250206093237-22.png]]
211	211
212	212	To create a NEW Brokerage, double click on the “Click here to add a new row” field:
213	213
214		-[[image:image-20250206075326-22.png]]
	210	+[[image:image-20250206093301-23.png||data-xwiki-image-style-alignment="center"]]
215	215
216	216	On the screen that opens, there are only 2 mandatory fields:
217	217
218		-[[image:image-20250206075326-23.png]]
	214	+[[image:image-20250206093320-24.png]]
219	219
220	220
221		-
222	222	**Brokerage Name**: this is a free form text field
223	223
224	224	**Administrator Bank**: this is the Bank Account that the fees must be paid to. These bank accounts are created via Administration → Financial Settings → System Bank Accounts. Please refer to your supervisor if a new bank account needs to be loaded
...	...	@@ -229,13 +229,13 @@
229	229	To create the Broker Agent, go to People → People Brokerage:
230	230
231	231
232		-[[image:image-20250206075326-24.png]]
	227	+[[image:image-20250206093338-25.png||data-xwiki-image-style-alignment="center"]]
233	233
234	234
235	235	On the screen that opens, there are only 2 mandatory fields:
236	236
237	237
238		-[[image:image-20250206075326-25.png]]
	233	+[[image:image-20250206093358-26.png]]
239	239
240	240
241	241	**Brokerage **: populate with the brokerage that was created on the People → Brokerage screen
...	...	@@ -245,7 +245,7 @@
245	245	**Administrator Bank**: This would only be populated if the bank account being paid to is different to the Brokerage.
246	246
247	247
248		-[[image:image-20250206075326-26.png]]
	243	+[[image:image-20250206093416-27.png]]
249	249
250	250
251	251	Once these screens are populated, you now need to load the broker fee on the member record.
...	...	@@ -254,19 +254,15 @@
254	254	Search for the applicable member, select the “info” button, and then go to the tab “Member Investment Fee Scale:
255	255
256	256
257		-[[image:image-20250206075326-27.png]]
	252	+[[image:image-20250206093435-28.png]]
258	258
259		-[[image:image-20250206075326-28.png]]
260	260
261		-[[image:image-20250206075326-29.png]]
262	262
263		-
264	264	This screen is made up of two parts:
265	265
	258	+[[image:image-20250206093457-29.png]]
266	266
267		-[[image:image-20250206075326-30.png]]
268	268
269		-
270	270	The top section holds the fee to be applied, while the bottom section holds the broker, and broker agent, where the fee must be paid to.
271	271
272	272
...	...	@@ -276,13 +276,13 @@
276	276	To add a new fee to a member, double click on the “Click here to add a new row” field in the top section of the screen:
277	277
278	278
279		-[[image:image-20250206075326-31.png]]
	270	+[[image:image-20250206093539-31.png||data-xwiki-image-style-alignment="center"]]
280	280
281	281
282	282	On the screen that opens, populate the relevant fields:
283	283
284	284
285		-[[image:image-20250206075326-32.png]]
	276	+[[image:image-20250206093600-32.png]]
286	286
287	287
288	288	**Effective Date **: the date from which the fee must apply
...	...	@@ -304,16 +304,15 @@
304	304	To add the broker applicable to a member, double click on the “Click here to add a new row” field in the bottom section of the screen:
305	305
306	306
307		-[[image:image-20250206075326-33.png]]
	298	+[[image:image-20250206093539-31.png||data-xwiki-image-style-alignment="center"]]
308	308
309	309
310	310	On the screen that opens, populate the relevant fields:
311	311
312	312
313		-[[image:image-20250206075326-34.png]]
	304	+[[image:image-20250206093624-33.png]]
314	314
315	315
316		-
317	317	**Investment Scale**: Select the scale to be applied (created earlier in the manual)
318	318
319	319	**Broker**: Select the Broker/Broker Agent combination from the available drop down (created earlier in the manual)
...	...	@@ -330,7 +330,7 @@
330	330	Select the batch “**Parent Investment Product Expenses**”.
331	331
332	332
333		-[[image:image-20250206075326-35.png]]
	323	+[[image:image-20250206093646-34.png]]
334	334
335	335
336	336	It is **VITAL** that the dates are populated correctly, based on the way the asset levies must be applied AND that a Test Run is done before running a Live run.
...	...	@@ -357,42 +357,36 @@
357	357	The report will produce a Summary tab, an Accounts Summary tab, and a tab PER CLIENT if the batch is run for the full Parent:
358	358
359	359
360		-[[image:image-20250206075326-36.png]]
	350	+[[image:image-20250206093702-35.png||data-xwiki-image-style-alignment="center"]]
361	361
362	362
363	363	**Summary**: This tab provides a high-level breakdown of what fees are being applied to the Parent, exclusions, payee info, and totals per product:
364	364
365	365
366		-[[image:image-20250206075326-37.png]]
	356	+[[image:image-20250206093730-36.png]]
367	367
368		-[[image:image-20250206075326-38.png]] [[image:image-20250206075326-39.png]]
369	369
370		-[[image:image-20250206075326-40.png]]
	359	+[[image:image-20250206093757-37.png]]
371	371
372		-[[image:image-20250206075326-41.png]]
373	373
374		-
375	375	**Accounts Summary**: This tab provides a high-level breakdown of what accounting transactions are being applied to the Parent, payee info, and switches per product and policy:
376	376
377	377
378		-[[image:image-20250206075326-42.png||data-xwiki-image-style-alignment="center"]]
	365	+[[image:image-20250206094016-39.png]]
379	379
380		-[[image:image-20250206075326-43.png||data-xwiki-image-style-alignment="center"]]
381	381
382		-
383	383	**Per Client: **This tab provides a by member, by product, by fee breakdown:
384	384
	370	+[[image:image-20250206094052-40.png]]
385	385
386		-[[image:image-20250206075326-44.png||data-xwiki-image-style-alignment="center"]][[image:image-20250206075326-45.png||data-xwiki-image-style-alignment="center"]]
387	387
	373	+(% style="color:#e74c3c" %)**A note about members with multiple products and money types. Everest will ratio the applicable fee across the products and money types, so the member statement will have multiple rows reflecting each transaction.**
388	388
389		-**A note about members with multiple products and money types. Everest will ratio the applicable fee across the products and money types, so the member statement will have multiple rows reflecting each transaction.**
390	390
391		-
392	392	An example member statement after the LIVE run is performed (transactions in black are unpriced and will affect your closing fund credit value):
393	393
394	394
395		-[[image:image-20250206075326-46.png||data-xwiki-image-style-alignment="center"]]
	379	+[[image:image-20250206094123-41.png]]
396	396
397	397
398	398	= (% style="color:#2980b9" %)**Batch to link person records**(%%) =
...	...	@@ -401,10 +401,9 @@
401	401	Where a member has multiple records and the Fund Credit must be combined for the asset-based fee calculation, use batch “**Person Record Allocation to Existing Member**”.
402	402
403	403
404		-[[image:image-20250206075326-47.png||data-xwiki-image-style-alignment="center"]]
	388	+[[image:image-20250206094140-42.png]]
405	405
406	406
407		-
408	408	**Client**: populate with the client that one of the member records belongs to
409	409
410	410	**Member**: populate with the member on that client
...	...	@@ -415,7 +415,7 @@
415	415	Once the batch is run, you can do a People Search for the records, select the “Fund Information” tab and you will see the 2 records, on the 2 different clients.
416	416
417	417
418		-[[image:image-20250206075326-48.png||data-xwiki-image-style-alignment="center"]]
	401	+[[image:image-20250206094203-43.png]]
419	419
420	420
421	421
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461	461
462	462
463	463
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