adviser office valuation update user guide

Adviser Office Valuation Links – User Guide Produced by Debbie Steer

Create time for advice

Independent Specialist Technology (UK) Ltd Trading as 1st and 1st Software In Commercial Confidence

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1 Table of Contents

1 Table of Contents ............................................................................................................................... 2 2 Change Control .................................................................................................................................. 3 3 Introduction ........................................................................................................................................ 4 4 Pre-requisites ..................................................................................................................................... 5 4.1 Test your environment ................................................................................................................................. 5 4.2 Unipass Certificates ..................................................................................................................................... 5 4.3 Unipass Hints & Tips ................................................................................................................................... 6

5 Getting Started ................................................................................................................................... 7 5.1 Unipass Certificates ..................................................................................................................................... 8 5.1.1 Enabling Access ....................................................................................................................................................... 8 5.1.2 Registering the certificate in Adviser Office and with the Provider ............................................................................ 9

5.2 User Name and Password ........................................................................................................................ 11 5.2.1 Enabling Access ..................................................................................................................................................... 11 5.2.2 Registering with the Provider ................................................................................................................................. 12 5.2.3 Setting up the Username and Password ................................................................................................................ 12

5.3 Setting Up the SIB Number ....................................................................................................................... 13 5.4 Data Requirements .................................................................................................................................... 13

6 Running the Update Link – Policy Level Valuations ........................................................................ 14 6.1 Initiating the Link ........................................................................................................................................ 14 6.2 Creating the Transactions .......................................................................................................................... 14 6.2.1 Updating the Funds ................................................................................................................................................ 14 6.2.2 Updating the Values ............................................................................................................................................... 15

6.3 Matching Funds - Hints & Tips .................................................................................................................. 16

7 Running the Link – Client Level Valuations ..................................................................................... 18 7.1 Setting up the Client ................................................................................................................................... 18 7.2 Running the Link ........................................................................................................................................ 19

8 Getting Help ..................................................................................................................................... 21



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2 Change Control

Version and Date Details Updated by1.0 2nd June 2005 Initial Release Debbie Steer1.1 18th June 2005 Update following feedback Debbie Steer1.2 19th July 2005 Addition of Hints and Tips Debbie Steer

The Change Control History provides a record of the life of the document. Any changes made should be given an overview here. Each major change will require a new version of the document. Previous document versions should be stored separately for review purposes.

Any major change requires re-distribution of this document to all interested parties.



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3 IntroductionAdviser Office has real time valuation links with over 15 Providers and Fund Providers. Once set up these links allow you to receive and request valuations instantly. The benefits to advisers are potentially enormous, both in terms of saving time in the production of client reports, but also in terms of improving the quality of your client data.

Real Time Valuation Links can be run in one of two ways:

1. Policy Level Valuations – where automated updates are requested policy by policy. The vast majority of the Real Time Links work this way.

2. Client Level Valuations – where you can request automated updates for all of a client’s holdings with a particular provider. Only a small number of Providers support this method, mainly the WRAP Managers.

This document will go through how to deal with both of these.

The links themselves do take some time to set up and this guide has been put together to help you get started and covers the following:

- How to set up a link that requires a unipass certificate

- How to set up a link that requires a user name and password

- How to run the update link

In addition to this guide, the following documents are available on the 1stextranet site:

Valuation Manager Fact Sheets – each Manager has a slightly different registration process. These Fact sheets have been put together to give you all of the information that you need to get started.

Manager Matrix – this matrix tells you exactly who is able to provide you with what service.

Manager Guides – these have been produced by the different Managers that support Valuation Links.

Unipass User Guide – tells you how to apply for a unipass certificate and install it on your PC.

Installing Unipass over Citrix – Additional notes to help users installing Unipass Certificates in a Citrix environment

If you need any further help then contact our e-commerce support team on [email protected], or call on 08450 683030.

mailto:[email protected]

http://www.1stextranet.com/Content.aspx?ArtID=172

http://www.1stextranet.com/content.aspx?artid=282






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4 Pre-requisitesPrior to using the valuation update links, there are some tasks which we recommend you complete first.

4.1 Test your environmentIf your organisation uses a firewall or proxy server it may not be possible to use the Update Links. Before you sign up for an Update Link with a Provider you may want to experiment by setting up a demonstration Update Link which uses 1st Software's server. This is easy to do and does not require any signing up; you just need to follow the process below:

1. Select a client - you may want to create a test/dummy client for this.

2. Create a new plan for the client using a Product Type of ‘Investment’; click the "New Scheme" button, and where you are asked to select the Provider click on "New".

3. For the "Provider’s Full Name" type "1st Software"; for the short name type "1st".

4. You will be prompted to enter a Settlement Type if you haven't selected one. You can enter any policy number for the new plan.

5. You should save the new test plan before clicking on the icon to initiate the demonstration. If you get an error message in the bottom left hand corner of the screen such as "host not found" it means that your network configuration may be unsuitable for using the Update Link facility.

If you are experiencing problems, the attached document outlines steps that you might take to resolve these issues. Help with Proxies & Firewalls

4.2 Unipass CertificatesBefore providing an automated valuation, the Provider will need to check that you are authorised to receive information on the client. They will do this in one of two ways:

- Username and Password- Unipass Digital Certificate

More and more Providers are adopting the Unipass route; we therefore advise that each user who intends to use the update functionality applies for and installs a certificate. Certificates can be obtained by visiting www.unipass.co.uk.

IMPORTANT: Some Providers will use the Postcode entered at the time of applying for a certificate, to confirm that the user has access to a policy. Therefore when applying for a certificate it is important to enter the correct address and POSTCODE. If you are in doubt about this, you should contact Unipass

More information on digital certificates can be found in the Unipass User Guide which can be found on the 1st extranet site, or on the unipass site itself.

http://www.unipass.co.uk/

http://www.1stextranet.com/Content.aspx?ArtID=222



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4.3 Unipass Hints & Tips

• If for anyway your certificate becomes corrupted, you will have to apply for a new certificate. To avoid such a situation we recommend that you keep a back up of all certificates on a secure area of your server.

• There might be occasions when you need to apply for a new Unipass certificate. If that is the case you will need to remove the old one and add the replacement to Adviser Office. To remove the old Certificate go to Internet Explorer - Tools - Internet Tools - Content - Certificates. Select the old certificate then click on Remove. To register the new UNIPASS to Adviser Office please follow the instructions in section 3.2.2.

• Should the SIB number, Agent Name or Postcode change on the UNIPASS you will need to update the Financial Adviser details within Adviser Office. Open Client Management - Maintenance - Title Files. Click on Select - Other Items - Financial Adviser Details. When the details have been updated click OK to apply the changes.

• Please note that if you UNIPASS has changed you will need to register the new certificate with the Provider also.



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5 Getting StartedBefore using an update link each user needs to be set up within Adviser Office. The process followed, will depend on whether a Digital Certificate or Username and Password is required. The flow chart below illustrates this process and assumes that a Unipass Certificate has already been installed on the individual user’s PC.

Which Security Model?

Register Certificate with Provider *

Register with Provider and obtain username

and password*

Unipass Certificate Username and Password

*These processes differ by Provider. See Provider Guides for details

Individual User adds Digital Certificate Via Client Management

System Administrator enables access per user, per provider

** The password can also be added by the individual user in Client Maintenence

System Administrator enables access per user, per provider

System Administrator adds username and

password in Database Admin**



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5.1 Unipass Certificates5.1.1 Enabling AccessPrior to using an update link the System Administrator must enable access per user and per Provider.

To do this go to Database Administration, click on Display/User Monitor and double click on the user that you wish to grant permissions to. This will bring up the following dialogue, from where you need to select the Update Links Tab:

To enable a link double click on the relevant Provider and tick the ‘enabled’ check box.



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5.1.2 Registering the certificate in Adviser Office and with the ProviderThe individual user can then register their digital certificate in Adviser Office and with the individual Provider.

Go to Client Maintenance and select Update Link from the Maintenance Toolbar. Then highlight the relevant provider and click on Select Certificate

The user can now select their certificate from the drop down list and click ‘OK’. If a certificate does not appear then there are no certificates installed for that user.



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Having selected a certificate, the user can register that certificate with the Provider by selecting the ‘Register’ button. The user will then be taken to the Providers website.

NB: if the System Administrator is attempting to register themselves for a service, they can also register from within Database Administration.



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5.2 User Name and Password5.2.1 Enabling AccessPrior to using an update link the System Administrator must enable access per user and per Provider.

From within Database Administration, click on Display/User Monitor and double click on the user that you wish to grant permissions to. This will bring up the following dialogue, from where you need to select the Update Links Tab:



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To enable a link double click on the relevant Provider. From the Account Details dialogue and tick the Enabled check box. The Login ID (username) and Password can be added at this stage if known.

5.2.2 Registering with the Provider If the user has already registered with the Provider, then the Username and Password can be added from within Database Admin in the above dialogue.

If not each user will need to do this via the Provider’s website. For some Providers, you can click Register in the above dialogue and be taken to the relevant registration page on the Provider’s site.

5.2.3 Setting up the Username and PasswordOnce the user has a Username and Password, this needs to be added to Adviser Office. This is done by going to the Account Details dialogue as described in step 5.2.1, and completing the details.

The Username needs to be added by the System Administrater. However, the Password can also be added by the user in Client Maintenance. The user should select Update Link from the Maintenance Toolbar menu and then highlight the relevant Provider:

From here the Password can be added.



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5.3 Setting Up the SIB Number

A small number of Providers also require the SIB number to be sent through; we therefore recommend that you set this up in Adviser Office.

From Client Management select the Maintenance menu, Other files and select Financial Adviser Details. The following screen will open.

The mandatory fields will be the SIB Number, Association Name and Postcode.

IMPORTANT: the details that are entered here must be the same as the details entered against the Unipass Certificate. Some Providers will check the Postcode in the certificate, against the Postcode attached to the plan, to ensure that the user should be granted access to the plan. This needs to be considered when applying for your Digital Certificate.

5.4 Data RequirementsWhen sending a valuation request, Adviser Office will send certain data items to the Provider. Each Provider is slightly different; however, you should be aware that the following data items may be required:

Plan Number – this needs to be as the Provider will recognise it. Specific reference should be made to Fidelity Funds Network, who require the Plan Number in a specific format. Details of this can be found in the Fidelity help file.

Address & SIB Number – as described in step 3.5

External Scheme Name – some providers require the External Scheme Name to be entered into the Scheme Header.



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6 Running the Update Link – Policy Level Valuations6.1 Initiating the LinkOnce you have followed the set up process, you will be ready to run a valuation update. To do so, find your client in Client Management and double click on the plan that you wish to value.

Click on the icon. This will move you to the Investment History page and initiate the link.

A progress bar will be present at the bottom of the screen whilst the update is running. If for any reason there are errors, a message will appear outlining the detail of the error.

6.2 Creating the Transactions6.2.1 Updating the FundsAdviser Office will attempt to match the fund records returned by the update link with the funds already stored in Adviser Office. If it cannot find a match, it will present the user with the following dialogue:



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From this dialogue you can choose to either create a new fund record with the data returned, or merge with an existing fund record. If you choose to merge with an existing fund, the filter and the category fields may be used to help find the correct fund.

These steps need only be followed once per fund.

6.2.2 Updating the Values

The update link will now create a row per fund record and update the number of units and Current Value. Some update links will also update the Surrender Value.

How the links update Adviser Office will depend on whether the ‘Track the Transaction History for this plan’ has been selected. It will also depend on the version of Adviser Office being run.



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Version 3.7 OnwardsIf the ‘Track the Transaction History for this plan’ option has been ticked, when the update link is run Adviser Office will create balancing transactions for any difference in units. For example, prior to running the link there are 1000 units in the Extra Income Fund, but now there are 1100 units. After running the link, an adjustment transaction of 100 units will be created. No transaction history will be lost.

If the ‘Track the Transaction History for this plan’ option has not been ticked, at the point of running the update, the existing number of units will be overwritten with the current number of units. Any funds on Adviser Office that are no longer held within the plan, will be moved to the archive tab. Should you wish to revert to using this information; you can do so by pressing Restore. This will delete the information added via the update link.

It is possible to set the ‘Track the Transaction History’ option as a default, through System Options/Other in Database Administration

Pre Version 3.7If ‘Track the Transaction History for this Plan’ option has been selected, the update link will update the funds with the current number of units.

If this option has not been selected any manually entered funds will be archived. This data is available on the Archive Holdings Tab. Should you wish to revert to using this information; you can do so by pressing Restore. This will delete the information added via the update link.

6.3 Matching Funds - Hints & Tips

• Using the Update Links requires you to have the corresponding Provider Code against the funds for the contract you are updating. If this provider code is not found you will prompted to add/merge the fund even though the fund may exist and have a MEX code.

• When you are prompted to add or merge a fund it is recommend trying merging the fund to check if there is already an instance of that fund to avoid unnecessary duplicates. When merging the Fund please take note of the full fund name as some can appear the same but contain Acc or Inc which can mean a different price. Also the fund type can be different also, e.g. Unit Trust, Insurance Fund and again another price. If you use a price feed check the existing fund price against the one you are merging to ensure they look similar.



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• Some Providers will have many references to other manager’s funds when you are updating. In this case the price of the fund will usually be the same as if within a Skandia ISA, Fidelity ISA, etc. In this case you can merge the fund to a native fund manager (e.g. Fidelity) and this will not affect other clients who have that fund as the price will be the same for all. The only exception to this is for certain funds used for Skandia Bonds, where there is a different price offered by Skandia for other managers funds and there is also a separate MEX code available for this reason.

• Provided the MEX code has been entered on these funds you will also be able to update the prices using Financial Express.



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7 Running the Link – Client Level Valuations7.1 Setting up the ClientClient Level Valuations are mainly available for the WRAP providers, at the time that this document was produced, the following companies are able to support Client Level Valuations:

• Abbey for Intermediaries• Brooks MacDonald• Rowan & Co• 7im

Before running the service, the Client Reference Number needs to be attached to the client. This number should be given to you by the Manager and will be used by the Manager to identify the client.

To do this, go to the ‘Compliance Details’ screen in Client Management. From here you need to go to the Third Party area and double click to create a new entry:



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From the following dialogue, you need to select ‘Manager Specific’ as the Third Party; select the Manager; State whether the plans are for the Client, the Partner or Joint; and finally add the Client Reference number.

More than one Reference Number can be added per client.

7.2 Running the Link

To run the link, go to the Tools Menu in Client Management and select the Manager that you wish to update

Adviser Office will then connect to the Manager and will attempt to download the plans attached to that Client Reference Number. If the plan already exists, the number of units will be updated; if the plan is not already on Adviser Office a new plan will be created.



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When creating a new Plan, Adviser Office will check to see that the scheme type already exists. If it does not then you will be presented with the following dialogue:

If you answer yes, you will be taken to the Scheme set up area. Adviser Office will populate as much of the Scheme Details dialogue as possible. All you need to do is press OK and the Scheme and Plans will then be created.

If you are manually setting up your own scheme records, it is important to ensure that the correct External Scheme Name has been set up. Check the Help Files or with the Manager for a list of the correct names.

Adviser Office will then attempt to create the Transactions in exactly the same way as it will for the Policy Level Valuations. Further details can be found in sections 6.2 and 6.3 of this document.



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8 Getting HelpHopefully this document will help you to use the update links. If you experience any problems or have any questions, please contact our e-Business support team, on:

[email protected] 683030

mailto:[email protected]

adviser office valuation update user guide

Documents

unipass certificates

link client level valuations

real time links

unipass user guide

real time valuation

unipass hints tips

major change

request valuations