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-20250206093912-38.png||data-xwiki-image-style-alignment="center" height="548" width="865"]]
	37	+[[image:image-20250206075326-2.png]]
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-20250206092457-2.png]]
	43	+[[image:image-20250206075326-3.png]]
44	44
45	45
46	46	Any previously created scales will appear on this screen:
47	47
48	48
49		-[[image:image-20250206092517-3.png]]
	49	+[[image:image-20250206075326-4.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-20250206092559-4.png]]
	55	+[[image:image-20250206075326-5.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-20250206092619-5.png]]
	64	+[[image:image-20250206075326-6.png]]
65	65
66	66
67	67	Populate the fields as below:
68	68
69	69
70		-[[image:image-20250206092636-6.png]]
	70	+[[image:image-20250206075326-7.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-20250206092653-7.png]]
	89	+[[image:image-20250206075326-8.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-20250206092711-8.png]]
	98	+[[image:image-20250206075326-9.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-20250206092727-9.png]]
	104	+[[image:image-20250206075326-10.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-20250206092739-10.png||data-xwiki-image-style-alignment="center"]]
	113	+[[image:image-20250206075326-11.png]]
114	114
115	115
116	116
...	...	@@ -119,23 +119,23 @@
119	119
120	120	Select the Investment Expense Tab:
121	121
122		-[[image:image-20250206092757-11.png]]
	122	+[[image:image-20250206075326-12.png]]
123	123
124	124	Any previously created Investment Expenses will appear on the screen:
125	125
126		-[[image:image-20250206092812-12.png]]
	126	+[[image:image-20250206075326-13.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-20250206092844-13.png||data-xwiki-image-style-alignment="center"]]
	132	+[[image:image-20250206075326-14.png]]
133	133
134	134
135	135	A popup will open as below:
136	136
137	137
138		-[[image:image-20250206093012-15.png]]
	138	+[[image:image-20250206075326-15.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.**
...	...	@@ -174,24 +174,28 @@
174	174
175	175	**//Apply fee to the whole Parent~://**
176	176
177		-[[image:image-20250206093121-19.png]]
178	178
	178	+[[image:image-20250206075326-16.png]]
179	179
	180	+
180	180	**//Exclude product from whole Parent//**//- ** **this will exclude the whole product  from ALL fee calculations~://
181	181
182		-[[image:image-20250206093045-17.png]]
183	183
	184	+[[image:image-20250206075326-17.png]]
184	184
	186	+
185	185	**//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~://
186	186
187		-[[image:image-20250206093103-18.png]]
188	188
	190	+[[image:image-20250206075326-18.png]]
189	189
	192	+
190	190	**//Exclude Client from fee calculation //**//– this will exclude the whole client from ALL fee calculations~://
191	191
192		-[[image:image-20250206093148-20.png]]
193	193
	196	+[[image:image-20250206075326-19.png]]
194	194
	198	+
195	195	= (% style="color:#2980b9" %)**Member Level Broker Fee Setup**(%%) =
196	196
197	197
...	...	@@ -199,21 +199,22 @@
199	199
200	200	To create the Brokerage, go to People → Brokerage:
201	201
202		-[[image:image-20250206093215-21.png||data-xwiki-image-style-alignment="center"]]
	206	+[[image:image-20250206075326-20.png]]
203	203
204	204	A screen will populate with all current Brokers loaded on the system:
205	205
206		-[[image:image-20250206093237-22.png]]
	210	+[[image:image-20250206075326-21.png]]
207	207
208	208	To create a NEW Brokerage, double click on the “Click here to add a new row” field:
209	209
210		-[[image:image-20250206093301-23.png||data-xwiki-image-style-alignment="center"]]
	214	+[[image:image-20250206075326-22.png]]
211	211
212	212	On the screen that opens, there are only 2 mandatory fields:
213	213
214		-[[image:image-20250206093320-24.png]]
	218	+[[image:image-20250206075326-23.png]]
215	215
216	216
	221	+
217	217	**Brokerage Name**: this is a free form text field
218	218
219	219	**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
...	...	@@ -224,13 +224,13 @@
224	224	To create the Broker Agent, go to People → People Brokerage:
225	225
226	226
227		-[[image:image-20250206093338-25.png||data-xwiki-image-style-alignment="center"]]
	232	+[[image:image-20250206075326-24.png]]
228	228
229	229
230	230	On the screen that opens, there are only 2 mandatory fields:
231	231
232	232
233		-[[image:image-20250206093358-26.png]]
	238	+[[image:image-20250206075326-25.png]]
234	234
235	235
236	236	**Brokerage **: populate with the brokerage that was created on the People → Brokerage screen
...	...	@@ -240,7 +240,7 @@
240	240	**Administrator Bank**: This would only be populated if the bank account being paid to is different to the Brokerage.
241	241
242	242
243		-[[image:image-20250206093416-27.png]]
	248	+[[image:image-20250206075326-26.png]]
244	244
245	245
246	246	Once these screens are populated, you now need to load the broker fee on the member record.
...	...	@@ -249,15 +249,19 @@
249	249	Search for the applicable member, select the “info” button, and then go to the tab “Member Investment Fee Scale:
250	250
251	251
252		-[[image:image-20250206093435-28.png]]
	257	+[[image:image-20250206075326-27.png]]
253	253
	259	+[[image:image-20250206075326-28.png]]
254	254
	261	+[[image:image-20250206075326-29.png]]
255	255
	263	+
256	256	This screen is made up of two parts:
257	257
258		-[[image:image-20250206093457-29.png]]
259	259
	267	+[[image:image-20250206075326-30.png]]
260	260
	269	+
261	261	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.
262	262
263	263
...	...	@@ -267,13 +267,13 @@
267	267	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:
268	268
269	269
270		-[[image:image-20250206093539-31.png||data-xwiki-image-style-alignment="center"]]
	279	+[[image:image-20250206075326-31.png]]
271	271
272	272
273	273	On the screen that opens, populate the relevant fields:
274	274
275	275
276		-[[image:image-20250206093600-32.png]]
	285	+[[image:image-20250206075326-32.png]]
277	277
278	278
279	279	**Effective Date **: the date from which the fee must apply
...	...	@@ -295,15 +295,16 @@
295	295	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:
296	296
297	297
298		-[[image:image-20250206093539-31.png||data-xwiki-image-style-alignment="center"]]
	307	+[[image:image-20250206075326-33.png]]
299	299
300	300
301	301	On the screen that opens, populate the relevant fields:
302	302
303	303
304		-[[image:image-20250206093624-33.png]]
	313	+[[image:image-20250206075326-34.png]]
305	305
306	306
	316	+
307	307	**Investment Scale**: Select the scale to be applied (created earlier in the manual)
308	308
309	309	**Broker**: Select the Broker/Broker Agent combination from the available drop down (created earlier in the manual)
...	...	@@ -320,7 +320,7 @@
320	320	Select the batch “**Parent Investment Product Expenses**”.
321	321
322	322
323		-[[image:image-20250206093646-34.png]]
	333	+[[image:image-20250206075326-35.png]]
324	324
325	325
326	326	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.
...	...	@@ -347,36 +347,42 @@
347	347	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:
348	348
349	349
350		-[[image:image-20250206093702-35.png||data-xwiki-image-style-alignment="center"]]
	360	+[[image:image-20250206075326-36.png]]
351	351
352	352
353	353	**Summary**: This tab provides a high-level breakdown of what fees are being applied to the Parent, exclusions, payee info, and totals per product:
354	354
355	355
356		-[[image:image-20250206093730-36.png]]
	366	+[[image:image-20250206075326-37.png]]
357	357
	368	+[[image:image-20250206075326-38.png]] [[image:image-20250206075326-39.png]]
358	358
359		-[[image:image-20250206093757-37.png]]
	370	+[[image:image-20250206075326-40.png]]
360	360
	372	+[[image:image-20250206075326-41.png]]
361	361
	374	+
362	362	**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:
363	363
364	364
365		-[[image:image-20250206094016-39.png]]
	378	+[[image:image-20250206075326-42.png||data-xwiki-image-style-alignment="center"]]
366	366
	380	+[[image:image-20250206075326-43.png||data-xwiki-image-style-alignment="center"]]
367	367
	382	+
368	368	**Per Client: **This tab provides a by member, by product, by fee breakdown:
369	369
370		-[[image:image-20250206094052-40.png]]
371	371
	386	+[[image:image-20250206075326-44.png||data-xwiki-image-style-alignment="center"]][[image:image-20250206075326-45.png||data-xwiki-image-style-alignment="center"]]
372	372
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.**
374	374
	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.**
375	375
	391	+
376	376	An example member statement after the LIVE run is performed (transactions in black are unpriced and will affect your closing fund credit value):
377	377
378	378
379		-[[image:image-20250206094123-41.png]]
	395	+[[image:image-20250206075326-46.png||data-xwiki-image-style-alignment="center"]]
380	380
381	381
382	382	= (% style="color:#2980b9" %)**Batch to link person records**(%%) =
...	...	@@ -385,9 +385,10 @@
385	385	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**”.
386	386
387	387
388		-[[image:image-20250206094140-42.png]]
	404	+[[image:image-20250206075326-47.png||data-xwiki-image-style-alignment="center"]]
389	389
390	390
	407	+
391	391	**Client**: populate with the client that one of the member records belongs to
392	392
393	393	**Member**: populate with the member on that client
...	...	@@ -398,7 +398,7 @@
398	398	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.
399	399
400	400
401		-[[image:image-20250206094203-43.png]]
	418	+[[image:image-20250206075326-48.png||data-xwiki-image-style-alignment="center"]]
402	402
403	403
404	404
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