Member Client Transfer

This workflow transfers the capital, interest, contributions and growth from a member record (% style="color:#2980b9" %)(**Source Member**)(%%) to another member record (% style="color:#2980b9" %)(**Destination Member**)(%%). The destination record can be either a new record or an existing record.

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Where the (% style="color:#2980b9" %)**Destination Member**(%%) already exists, the (% style="color:#2980b9" %)**Destination Member** (%%)record must be an active record, i.e. transfers cannot be done to an exited member. Where the destination record does not exist, a new record is created, and the following is transferred from the old record to the new record:

* Loans

* Salaries

* Notes

* Beneficiaries

* Break in Service

* Medicals

Where the (% style="color:#2980b9" %)**Source Member**(%%) record is active, the member will automatically be exited with an exit type (% style="color:#2980b9" %)“**Client Transfer**”, (%%)the transfer date will be recorded, and the capital, interest, contributions and growth will be transferred to the (% style="color:#2980b9" %)**Destination Member**(%%). The date of exit will be set to the effective date of the transfer.

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Should the(% style="color:#2980b9" %) **Source Member** (%%)already be exited, or have had a prior transfer done, the transactions with an effective date after the last transfer/exit will be transferred to the(% style="color:#2980b9" %) **Destination Member**.(%%) This is done by recording the effective date for each transfer. The maximum of the last date of transfer (% style="color:#2980b9" %)“**DTRF**”(%%), date of calculation (% style="color:#2980b9" %)“**DOC**”(%%) or date of exit (% style="color:#2980b9" %)“**DOX**”(%%) is used to determine the starting date for records to be transferred.

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Non-taxable components to the switch are recorded as Single Premium entries, using the same effective date logic as described above.

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The member notes field is used to record predetermined notes on both the (% style="color:#2980b9" %)**Source Member**(%%) and (% style="color:#2980b9" %)**Destination Member**(%%) respectively.

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(% style="text-align: center;" %)

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== (% style="color:#2980b9" %)**Steps to complete the transfer**(%%) ==

(% style="text-align:center" %)

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[[image:1634194145600-395.png]]

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The user will need to locate the (% style="color:#2980b9" %)**Source Member** (%%)on the database. Do this by selecting the relevant client from which the member is transferring. Search for the member, select the member, right click your mouse and copy the member before starting the workflow process.

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Select the (% style="color:#2980b9" %)“**Member Client Transfer Workflow**”(%%) from Batch Management. Click on the(% style="color:#2980b9" %) __edit__(%%) hyperlink.

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(% style="text-align:center" %)

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[[image:1634194168572-992.png]]

Paste the member’s name in the (% style="color:#2980b9" %)“**Member**”(%%) field. The effective date will be the date of transfer. Where the member is active, the member exit date will be set to the transfer date. Select the (% style="color:#2980b9" %)“**Save**”(%%) and (% style="color:#2980b9" %)“**Execute**”(%%) options to start the workflow process.

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(% style="text-align:center" %)

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[[image:1634194187183-885.png]]

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The user will need to locate the workflow in the (% style="color:#2980b9" %)“**Your Workflow**” (%%)pane and double click on it to open the workflow.

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Once the user is satisfied that sufficient notification and confirmation has been received for the transfer, click on the (% style="color:#2980b9" %)“**Yes**”(%%) button and then the “**Yes**” button to continue with the workflow process.

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(% style="text-align:center" %)

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[[image:1634194224605-117.png]]

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Where the transfer is moving to an existing member select (% style="color:#2980b9" %)“**Existing Member**”.(%%) Where the transfer must create a new member record choose (% style="color:#2980b9" %)“**New Member**”.(%%) Click on the(% style="color:#2980b9" %) “**Done**”(%%) button once a selection has been made.

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(% style="color:#2980b9" %)**NB!**(%%) Always first check if there is a record open for the same member on the client you are transferring to, in which case select “Existing Member”.

(% style="text-align: center;" %)

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== (% style="color:#2980b9" %)**New Member**(%%) ==

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Click on the (% style="color:#2980b9" %)“**Variables**”(%%) button.

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(% style="text-align:center" %)

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[[image:1634194241418-617.png]]

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Specify the new client this member must be transferred to. Leave the (% style="color:#2980b9" %)“**Member**” (%%)field blank. The effective date will be the date of transfer. Select the (% style="color:#2980b9" %)“**Save**” (%%)and “**Close**” option to go back to the workflow.

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(% style="text-align:center" %)

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[[image:1634194261841-296.png]]

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Select the (% style="color:#2980b9" %)“**Done**” (%%)button in the workflow to continue to the next step.

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A report will populate with the proposed transfer details. Check that the report is correct.

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(% style="text-align:center" %)

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[[image:1634194278685-302.png]]

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Click on the(% style="color:#2980b9" %) “**Yes**”(%%) button if the details in the transfer were correct.

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Click on the (% style="color:#2980b9" %)“**No**”(%%) button if the details in the transfer were incorrect and the workflow will then loop back to the Existing Member/ New Member selection step.

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(% style="text-align:center" %)

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[[image:1634194299186-130.png]]

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(% style="text-align: center;" %)

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== (% style="color:#2980b9" %)**Completing the Workflow**(%%) ==

Click on the (% style="color:#2980b9" %)“**Done**”(%%) button to process the transfer.

(% style="text-align:center" %)

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[[image:1634194315483-734.png]]

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A report will generate confirming whether the transfer was successful. If an error occurred, the process will need to be started again.

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(% style="text-align:center" %)

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[[image:1634194334515-987.png]]

Once satisfied that the member has been transferred successfully, the user will click on the(% style="color:#2980b9" %) “**Complete**”(%%) button to continue. Select the(% style="color:#2980b9" %) “**Incomplete**” (%%)button to start the process again.

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(% style="text-align:center" %)

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[[image:1634194377798-173.png]]

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The Member has been added to the new client. Please enter the Member's Category and Paypoint in the new client on the new record. Before selecting the (% style="color:#2980b9" %)“**Done**” (%%)button, ensure that the member switch to the new product has been finalised. This is to be done on a Client Level > Accounts > Investment Switches. Only once the switch has been actioned on Everest, can the workflow be finalised by selecting(% style="color:#2980b9" %)** “Done”**(%%).

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(% style="text-align:center" %)

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[[image:1634194397845-607.png]]

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(% style="color:#e74c3c" %)**NB!**(%%) The (% style="color:#2980b9" %)**Destination Member** (%%)record will need to be updated with the Category and Paypoint details.

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(% style="text-align:center" %)

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[[image:1634194413050-737.png]]

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(% style="text-align:center" %)

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[[image:1634194428787-719.png]]

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Once the Member's Category and Paypoint on the new record has been added, the member switch is to be processed. This is processed on the new member’s record on a Client Level.

(% style="text-align: center;" %)

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== (% style="color:#2980b9" %)**Member Investment Switch Process**(%%) ==

Find and copy the new member’s record, then run a Member Statement to determine current value and current investment strategy (which is based on the source clients investments).

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Go to the(% style="color:#2980b9" %) **Investment Switches**(%%) screen

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(% style="text-align:center" %)

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[[image:1634194452381-664.png]]

(% style="text-align:center" %)

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[[image:1634194466991-965.png]]

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Create a line and update the following details:

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(% style="color:#2980b9" %)**Date:**(%%) Date of Switch

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(% style="color:#2980b9" %)**Member:**(%%) Paste the record previously copied

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(% style="color:#2980b9" %)**Percentage:**(%%) Must be completed as (% style="color:#2980b9" %)**-100%**(%%) (Negative)

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After completing the relevant fields, click on the (% style="color:#2980b9" %)“**Update**”(%%) and (% style="color:#2980b9" %)“**Save**”(%%) buttons to create the line.

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Click on the (% style="color:#2980b9" %)“**Switch”**(%%) button to proceed with the next step of the switch.

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(% style="text-align:center" %)

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[[image:1634194486415-649.png]]

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A report is generated confirming that the contra entries have been created for the switch

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(% style="text-align:center" %)

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[[image:1634194507040-838.png]]

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On Everest the Investment Switch screen would have been updated to reflect the entries, reflecting the split (negative amounts split between EE and ER type being switched out of the old portfolio as reflected in the example below). There can be more than two(2) lines, depending on how many money types are on the member record.

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(% style="text-align:center" %)

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[[image:1634194524119-862.png]]

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If all is in order (refer to the member statement generated previously as a quick check), click on the (% style="color:#2980b9" %)“**Switch”**(%%) button to proceed with the final steps of the switch.

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Another report is generated, confirming the switch has occurred, based on the mandate.

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(% style="text-align:center" %)

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[[image:1634194538901-156.png]]

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On the Investment switches screen, create one(1) row, leaving the member blank, populate the (% style="color:#2980b9" %)**_bank** (%%)product and add in 100% in the percentage field. This would create the positive amounts being switched out of the old portfolio into (% style="color:#2980b9" %)**_bank**.

(% style="text-align:center" %)

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[[image:1634194552793-732.png]]

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(% style="color:#2980b9" %)**Date:**(%%) Date of Switch

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(% style="color:#2980b9" %)**Investment Product:**(%%) Select the _Bank Account Investment Product from the drop-down option

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(% style="color:#2980b9" %)**Percentage:**(%%) Must be completed as 100% (Positive)

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After completing the relevant fields, click on the (% style="color:#2980b9" %)“**Update**”(%%) and (% style="color:#2980b9" %)“**Save**”(%%) buttons to create the line.

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Click on the (% style="color:#2980b9" %)**“Switch”**(%%) button to proceed with the next step of the switch.

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(% style="text-align:center" %)

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[[image:1634194486415-649.png]]

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The following report is generated.

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(% style="text-align:center" %)

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[[image:1634194577653-631.png]]

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The Investment Switches screen is updated on Everest.

(% style="text-align:center" %)

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[[image:1634194593231-646.png]]

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Click on the(% style="color:#2980b9" %)** “Switch”**(%%) button to proceed with the next step of the switch.

(% style="text-align:center" %)

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[[image:1634194608639-339.png]]

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Click on the (% style="color:#2980b9" %)“**Switch”** (%%)button to proceed with the next step of the switch.

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A communication document is generated reflecting the transactions. All details of the switch are recorded.

(% style="text-align:center" %)

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[[image:1634194632108-483.png]]

(% style="text-align:center" %)

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[[image:1634194652766-557.png]]

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The investment switch screen is now clear and the switch from (% style="color:#2980b9" %)**_Bank Account** (%%)to the new investment product can be actioned.

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(% style="text-align:center" %)

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[[image:1634194668204-871.png]]

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(% style="color:#2980b9" %)**Date:** (%%)Date of Switch

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(% style="color:#2980b9" %)**Product:**(%%) Select the (% style="color:#2980b9" %)**_Bank Account**(%%) Investment Product from the drop-down option

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(% style="color:#2980b9" %)**Member:**(%%) Select the member record from the drop-down selection or paste from the previous copying

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(% style="color:#2980b9" %)**Percentage:**(%%) Must be completed as(% style="color:#2980b9" %) **-100%**(%%) (Negative)

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After completing the relevant fields, click on the (% style="color:#2980b9" %)“**Update**”(%%) and (% style="color:#2980b9" %)“**Save**”(%%) buttons to create the line.

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Click on the (% style="color:#2980b9" %)**“Switch”**(%%) button to proceed with the next step of the switch.

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A report is generated confirming that the contra entries have been created for the switch.

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(% style="text-align:center" %)

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[[image:1634194738753-252.png]]

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On Everest the Investment Switch screen would have been updated to reflect two entries, reflecting the split (negative amounts split between EE / ER or Special types being switched out of _Bank Account).

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Create additional lines for each Type that is to be switched into the new Investment product from (% style="color:#2980b9" %)**_Bank Account**.(%%) These would reflect the positive amounts being switched out of(% style="color:#2980b9" %) **_Bank Account**.

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(% style="color:#2980b9" %)**Date:**(%%) Date of Switch

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(% style="color:#2980b9" %)**Product:**(%%) Select the Investment Product from the drop-down option

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(% style="color:#2980b9" %)**Type:**(%%) Select the relevant type (EE or ER) from the drop down

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(% style="color:#2980b9" %)**Amount:** (%%)Type in the amount per type to be switched (Positive)

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(% style="text-align:center" %)

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[[image:1634194756238-832.png]]

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After completing the relevant fields, click on the (% style="color:#2980b9" %)“**Update**”(%%) and (% style="color:#2980b9" %)“**Save**”(%%) buttons to create the line.

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Click on the (% style="color:#2980b9" %)**“Switch”**(%%) button to proceed with the next step of the switch.

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A report is generated confirming that the contra entries have been created for the switch.

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(% style="text-align:center" %)

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[[image:1634194773616-145.png]]

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On Everest the Investment Switch screen would have been updated to reflect the entries, reflecting the split (amounts split between EE and ER type being switched in and out from the relevant portfolios).

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(% style="text-align:center" %)

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[[image:1634194790508-115.png]]

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Click on the(% style="color:#2980b9" %)** “Switch” **(%%)button to proceed with the next step of the switch.

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The following report is generated.

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(% style="text-align:center" %)

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[[image:1634194810728-415.png]]

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Click on the (% style="color:#2980b9" %)**“Switch”**(%%) button to proceed with the next step of the switch.

[[image:Member Client Transfer Workflow Process_html_4b9901442bb1e1e2.png||height="202" width="627"]]

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A communication document is generated reflecting the transactions. All details of the switch are recorded confirming the switch out of _bank account and into the new client products.

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On Everest there are no longer details reflected as the investment switch has been finalised.

[[image:Member Client Transfer Workflow Process_html_8562fb98d091c25e.png||height="77" width="621"]]

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Once the instruction has been forwarded to the asset manager, and the transaction prices received have been loaded, the Member Transfer workflow can be accessed and the workflow finalised.

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(% style="text-align: center;" %)

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== (% style="color:#2980b9" %)**Pricing the Transaction**(%%) ==

(% style="color:#2980b9" %)**Units**(%%) would have been disinvested from the asset manager.

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Once the instruction has been forwarded to the asset manager, and the transaction prices received, the following process needs to be followed: -

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Select the relevant Parent.

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Go to the Accounts Menu and select (% style="color:#2980b9" %)“**Cashflow Unit Prices**”.

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Search for the batch created via the Investment switch process.

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The disinvestment process creates 2 lines in the Cashflow Unit Prices screen, one in respect of the transaction (% style="color:#2980b9" %)**to**(%%) the asset manager and the other the(% style="color:#2980b9" %) **bank** (%%)transaction. The bank transaction line will need to be amended to the actual amount received (% style="color:#2980b9" %)(**Positive value**)(%%) in the bank account, and the disinvestment line will need to be updated with the amount paid (% style="color:#2980b9" %)(**Negative value**)(%%) from the Asset Manager. Everest will calculate the Unit Price based on the actual rand value received from the Asset Manager and the number of units calculated by the system.

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To update the screen, double click on the relevant row and enter the amount received from the Asset Manager. Add the amount received as a Negative (-) in the Net Amount block. Repeat the process for the bank transaction remembering to enter it as a positive value. Once complete click on the (% style="color:#2980b9" %)“**Update**” (%%)button.

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At the bottom of the screen, click on the (% style="color:#2980b9" %)“**Save**” (%%)button.

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Then click on the (% style="color:#2980b9" %)__Confirm__ (%%)hyperlink

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Once this has been confirmed it will be removed from this screen.

(% style="text-align: center;" %)

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== (% style="color:#2980b9" %)**Completing the Workflow**(%%) ==

To close the Member Client Transfer workflow process, click on the (% style="color:#2980b9" %)“**Done**”(%%) button. The workflow can only be closed once the switch has been actioned and priced.

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[[image:Member Client Transfer Workflow Process_html_34af6644ac503f76.png||height="190" width="627"]]

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The member record on the (% style="color:#2980b9" %)**Source Client** (%%)has been updated.

[[image:Member Client Transfer Workflow Process_html_b8bed609e7aac0a4.png||height="98" width="627"]]

(% style="text-align: center;" %)

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== (% style="color:#2980b9" %)**Disclaimer and Copyright**(%%) ==

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(% style="color:#2980b9" %)**DISCLAIMER**

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Please note, whilst care is taken to illustrate numerous scenarios, it is impossible to detail all instances and therefore this document should merely serve as a guide for the purposes of demonstrating system functionality and conducting employee training.

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In accordance with the above paragraph, this training manual is published and distributed on the basis that EBSphere (Pty) Ltd is not responsible/accountable for any actions taken by users of information contained in this training manual nor for any error in or omission from this manual.

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EBSphere (Pty) Ltd does not accept any responsibility whatsoever for a misrepresentation performed by any person in respect of claims, losses or damage or any other matter, either direct or consequential arising out of or in relation to the use and reliance, whether wholly or partially, upon any information contained or products referred to in this manual.

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Further, the contents of this training manual are subject to change without any notice and further highlight the need for this training manual to serve only as a guide.

(% style="color:#2980b9" %)**COPYRIGHT**

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This documentation and the software described in it is the exclusive property of EBSphere (Pty) Ltd. This manual or the software may not be copied in whole or part, without the express written consent of EBSphere (Pty) Ltd. Under the law, copying includes translating into another language or format.

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EBSphere (Pty) Limited

P.O. Box 785803

Sandton