How to make life easier for YOU, the NFP! NFP Admin Guide March 2017

Transcription

1 How to make life easier for YOU, the NFP! NFP Admin Guide March

2 What s in this little book? Topic Detail Page Cut-off times & Clearance periods 4-5 How to submit an instruction? (includes eapps; Wizard and manual) 7-25 Tips to avoid delays in processing 26 FATCA 27 Administration Phase-ins Once-off debits Dirty vs Clean Class 37 Where do I get forms? 40 Correspondence Public website Self-help! Secure Site (including tools) IVR (Integrated Voice Response) 87 MOBI 88 What is my client s current market value? 90 How to be more efficient? My client needs a statement urgently? 91 How far is the instruction that I submitted? 92 What about other Nedgroup Investments Products 94 2

3 Cut-off times / clearance periods 3

4 Cut-off times Money Market portfolio 12h00 Other unit trust portfolios 14h00 What is the impact? Before cut-off Instruction will be processed with value date as at close of business of when instruction is received After cut-off Instruction will be processed with value date as at close of business of the following day after instruction is received 4

5 Clearance periods Transaction type Debit orders Once-off debits Cheque Clearance periods from investment date 30 days 5 business days 14 days What is the impact? Fees will only be paid if the transaction has been cleared Withdrawals for clients If your client requires a certain amount as a withdrawal, only the cleared units will be available for payment. 5

6 How to submit an instruction for Unit Trusts only? 6

7 Some insights into the journey of a manual instruction form 2. We check if all the required fields and supporting documents are received 3. We will contact you if there is outstanding information 4. You send us the outstanding information / documentation Steps 3 & 4 can be avoided!!!!! 7

8 eapps for NFP making things simpler for you 8

9 Benefits of eapps (Additions, new debit orders, switches, new recurring withdrawals and withdrawals) Instruction is processed straight into the line of business no human intervention at Nedgroup Investments Online validation reduces errors no rejections for you after you click SUBMIT Instruction processed quicker and hassle-free Easier to meet last minute cut-off times Additions only via once-off debit for now (remember limit increased to R1 million a day now). EFT is being built for future transactions 9

10 Housekeeping 10

11 Tips for you! Make sure you get training from your NFP trainer on eapps! 11

12 When to submit what type of instruction for Unit Trusts? Utilise the latest hand-out of which type of instructions get processed via eapps! 12

13 How to submit an instruction for all other Nedgroup Investments products? Via to One instruction form = one Do not BCC anyone Provide details on subject line so confirmation reverts with the same easy to reference 13

14 Tips on how to complete a Unit Trust Initial Investment Form 14

15 So a big tip for efficiency. If it is for a natural person, use the WIZARD! No rejections no back and forth better experience for you and your client 15

16 How to create your own instruction form Unit Trusts and Tax-Free Investments for now! To get started Click on INVEST ONLINE NOW 16

17 How to create your own instruction form Unit Trusts and Tax-Free Investments for now! Then Click on GET STARTED Follow 6 easy steps to create your own form 17

18 How to create your own instruction form Unit Trusts and Tax-Free Investments for now! 18

19 How to create your own instruction form Unit Trusts and Tax-Free Investments for now! 19

20 How to create your own instruction form Unit Trusts and Tax-Free Investments for now! 20

21 How to create your own instruction form Unit Trusts and Tax-Free Investments for now! 21

22 How to create your own instruction form Unit Trusts and Tax-Free Investments for now! 22

23 How to create your own instruction form Unit Trusts and Tax-Free Investments for now! 23

24 How to create your own instruction form Unit Trusts and Tax-Free Investments for now! 24

25 How to create your own instruction form Unit Trusts and Tax-Free Investments for now! 25

26 If you still want to complete a manual form, remember the following to avoid delays Provide all the mandatory fields refer to the form with the training bubbles Specify the unit trust portfolio and class (refer to Portfolio Characteristics Document) remember that the XS Select range needs to be completed under the Additional unit trust portfolio section Submit all the pages (even if some are blank) Provide all the supporting documents Ensure that you only indicate one form of payment and provide proof if via EFT (clearly marked with surname and initials) Get the client to sign the form yes, sign it! Remember your financial planner code keep your details on the SAP system as up to date as possible 26

27 And remember FATCA why, who and for which products? (refer to handout) Why? Reduce USA Offshore Tax Evasion Who? US persons Which products? Unit Trusts and Endowments FATCA requires that the investor declares that they are a US citizen in writing 27

28 Some other things Phase-ins What is a phase-in? Recurring switch technically for a specific period of time Why would an investor want a phase-in? Sometimes investors do not want immediate exposure to an equity type unit trust portfolio due to volatility in the market at that time so they prefer that the initial investment be invested in a safer type of unit trust portfolio and then slowly move the money across to the equity type unit trust portfolios 28

29 Phase-ins how does this work? Unit Trust Portfolio X Recurring switch over period of 3 or 6 months Unit Trust Portfolio Y Unit Trust Portfolio Z Initial lump sum invested in the honey pot = Nedgroup Investments Core Income Fund Class B 29

30 Phase-ins things to remember Use of the Phase-in form Separate form is now available which is only to be used when the investor requires a phase-in How do I complete this on the shopping list? No need to select Core Income Fund on shopping list No need to select phase-in unit trust portfolios on shopping list use the phase-in form Cannot have a recurring withdrawal on the honey-pot nor the destination unit trust portfolio Phase-ins occur on the 10 th of each month for a period of either 3 or 6 months 30

31 Once-off debits some insights! Over 100 once-off debit rejections every month Over 100 unhappy client experiences 31

32 Main reasons for once off debits being rejected Not provided for Account closed / frozen Account cannot accept debits 32

33 Once-off debits when things go wrong? Bank only advises up to 4 days after the event Welcome pack would have been ed / posted to the investor already The SMS confirmation would have been sent off already confusion Impact on investing on different dates - original investment vs. actual investment Impact on fees, reversal and reprocessing 33

34 Once-off debits when things go wrong? Investor gets charged bank charges by their respective banks Poor client experience! Poor brand experience for NFP and Nedgroup Investments 34

35 So remember the following? Does the bank account being debited, allow for once off debits? Will money be there on the date that once-off debit is requested? Proof of transfer from a bank doesn t guarantee that money is available same day for the debit to occur. Is the bank account open and active that we are debiting? Remember to check that the status is clear could be dormant, inactive or overdrawn! Only R per investor per day 35

36 Some history 36

37 New concept for unit trust portfolio classes Dirty vs. Clean Dirty class Clean class effective November 2015 Contains a third party portion such as annual financial planner fees, rebates, kick-backs etc. Mostly Unit price classes and some Sale of Unit classes No new monies to be invested effective November 2015 from NFP All third party portions have been excluded Could be more than one clean Sale of Unit class available: Cheaper dependant on internal discounts for cost of administration (ie. Unit Trust cheaper than Product and Tax Free Investment) or Unit Trust cheaper for NFP as being processed via eapps! CCF Corporate Consulting Fee instituted by NFP 37

38 Please ensure that your client views the following: Investment agreement Details of the product Portfolio characteristics table Details of the underlying unit trust portfolios Relevant Fund Fact sheet Finer details of the unit trust portfolio that has been selected 38

39 Where do I get the latest forms? 39

40 Your own special link save it as a favourite! Instruction forms (not pre populated) Portfolio Characteristics Table Investment Agreements Investment proposals (quotes) Product brochures Effective Annual Cost calculator (EAC) Training materials & presentations 40

41 Correspondence 41

42 Preferred correspondence you and your client can receive all correspondence However, you and the client can view archived correspondence on secure site (see details later) where all correspondence is stored so do you need to still receive it? Decision is yours! 42

43 Acknowledgement s / SMS Instruction ed Acknowledgement sent to the address from where was sent SMS will be sent to the investor confirming transactions that have been processed (excluding recurring instructions such as debit orders). If no cell phone provided, then investor will only receive initial welcome pack and quarterly statements via or post! 43

44 Other types of correspondence Type of correspondence When? Welcome pack Transaction sms Statements Tax certificates Abridged financial reports New investment Any transaction that takes place on the investment (apart from recurring standing instructions such as debit orders) Quarterly these are encrypted with a password (investor s ID number) Will be sent with the end of March 2017 quarterly statement Annually is the preferred means of communication! 44

45 Structure of information in statement 1 Status What am I worth today? (across investments) 2 Summary How did my investment grow? What have I earned, paid, used? 3 Detail Where did my earnings and growth come from? How much did it cost me? 4 Ease of use Helping me read this statement notes where it is needed. Who do I contact if I need to? Where can I learn more about investments News, education, fact sheets, fund information 45

46 46

47 Making things easier for you! 47

48 A touch away self-help! Public website articles, newsletters, the WIZARD etc. NFP special link forms, proposals, agreements etc. MOBI statements, values, client information etc. IVR statements and market values Secure Site view client details and transactions; generate statements and tax certificates; archived correspondence and financial planner tools! 48

49 Our Public website 49

50 50

51 Our public site 51

52 The Wizard: create your own instruction form Refer to page 17 onwards for detail 52

53 Our secure site 53

54 Assumption! You have access so what can you use this for? Client housekeeping View your clients, their market values and transactions Extract investment statements and tax certificates Extract archived correspondence Track instructions Providing access to my clients Extract pre-populated forms Business housekeeping Fees statements Reporting Tools!! 54

55 Secure Site details! Once you have your secure site details, log onto 55

56 Client housekeeping! 56

57 How to search for your clients? Either insert details of the investor in the search functionality OR 57

58 How to search for your clients? Or click on Investor listing 58

59 How to view current market values? 59

60 How to view transactions for the client? 60

61 How to extract statements and tax certificates? Option 1 61

62 How to extract statements and tax certificates? Option 2 62

63 How to view correspondence that has been sent off to clients? 63

64 How to view correspondence that has been sent off to clients? Only reflects correspondence sent to clients since July

65 How to track instructions (paper) that you have submitted to us for processing? 65

66 How to track instructions (paper) that you have submitted to us for processing? 66

67 How do I prepopulate instruction forms? Trick is first select the client and then select forms!! 67

68 How to provide secure site access to clients to view investments with Nedgroup Investments? Clients need to self-register and need to ensure that they have the following: Existing investor number with us Correct ID, address and cell phone number must reflect on secure site Log onto and click REGISTER 68

69 Business housekeeping 69

70 How to extract a fees statement which ties up to monies paid into bank account? 70

71 How to extract a fees statement which ties up to monies paid into bank account? Report can then be exported into excel or PDF 71

72 How to extract a fees report for a specific period? 72

73 How to extract a fees report for a specific period? 73

74 What other reports are available? 74

75 Tools 75

76 Tools - MorningStar Portfolio analyser Portfolio planner InvestPlan Research 76

77 Tools CGT Calculator This is a tool that can assist you to ascertain what the potential gain or loss would be based on a hypothetical (should the investor) dispose of any units either through a withdrawal or a switch out of a unit trust portfolio. Important a capital gain arises when you dispose of an asset on or after 1 October 2001 for proceeds that exceed its base cost (what you originally paid for it) Tool can only be used for Unit Trusts and Endowments (not for Money Market portfolios) 77

78 Tools CGT Calculator 78

79 Tools CGT Calculator 79

80 Tools CGT Calculator 80

81 Tools CGT Calculator 81

82 Tools CGT Calculator 82

83 Tools IRR calculator The Internal Rate of Return (IRR) shows the annual return on the investor s investment based on actual inflows and outflows. This can be different from the annual performance of each unit trust portfolio which is calculated assuming no cash flows over the same period. IRR calculation is based on the net amount invested (after initial financial planning fees). In the Industry, the IRR is generally based on an annualised (12 month period), however we will allow the user to request any period. 83

84 Tools IRR calculator 84

85 Tools IRR calculator 85

86 Tools IRR calculator 86

87 IVR Self help functionality on Following options available to you Market value of a specific unit trust account (unit trust portfolio) Consolidated market value across all unit trust account (unit trust portfolios) An ed consolidated statement to your client 24hrs a day / 7 days a week 87

88 MOBI Information at your fingertips! View your assets under management View latest fee statement View your clients statements directly to your clients All you need is online access! 88

89 How to be more efficient? 89

90 What is my client s current market value? 1. Use MOBI or 2. Dial IVR , press 1, press 1 and input your financial planner code followed by #; system will prompt for details of your client or 3. Log into the secure site and view market value or 4. Call the Nedgroup Investments Client Services Centre on

91 My client needs an statement urgently? 1. Use MOBI statement will be ed to the investor or 2. Dial IVR , press 1, press 1 and input your financial planner code followed by #; system will prompt for details of your client. Statement will be ed to investor. or 3. Log into the secure site and download statement or 4. Call the Nedgroup Investments Client Services Centre on

92 How far is the instruction that I submitted? Submitted via eapps Go in via Infinity Submitted via / fax Go into secure site and select Correspondence / Instruction Tracking If in complete status, check transaction history on secure site for confirmation 92

93 If all else fails, call us on

94 And what about other products? Tax-Free Investment Endowment Retirement Annuity discretionary monies Retirement Annuity compulsory monies Pension Preservation Fund Provident Preservation Fund Living Annuity Use the hand-out for what you can and can t do with the products! 94

95 Next steps NFP Induction Do you have a Nedgroup Investments financial planner code? Have you registered for online access yet? Have you done your accreditations? (available on PlumbLine link) Mandatory Nedgroup Investments Unit Trusts and Tax Free Investments Only if you selling them Nedgroup Investments -other products 95

96 Disclaimer Nedgroup Collective Investments (RF) Proprietary Limited administers the Nedgroup Investments unit trust portfolios and is authorised to do so as a manager in terms of the Collective Investment Schemes Control Act. Collective Investment Schemes (unit trusts) are generally medium to long-term investments. The value of participatory interests (units) or the investment may go down as well as up and past performance is not necessarily a guide to future performance. Nedgroup Investments does not guarantee the performance of your investment and the investor will carry the investment and market risk, which includes the possibility of losing capital. Collective Investment Schemes are traded at ruling prices and can engage in borrowing and scrip lending. A schedule of fees and charges and maximum commissions is available on request from Nedgroup Investments. Certain Nedgroup Investments unit trust portfolios apply a performance fee. For the Nedgroup Investments Flexible Income Fund and Nedgroup Investments Stable Fund, it is calculated daily as a percentage (the sharing rate) of total positive performance, with the high watermark principle applying. For the Nedgroup Investments Bravata World Wide Flexible Fund it is calculated monthly as a percentage (the sharing rate) of outperformance relative to the fund s benchmark, with the high watermark principle applying. All performance fees are capped per portfolio over a rolling 12-month period. Certain Nedgroup Investments unit trust portfolios include international assets, whereby a change in the exchange rates may cause the value of those investments to rise and fall. The Nedgroup Investments money market portfolios aims to maintain a constant price (e.g. R1.00) per unit. A money market portfolio is not a bank deposit. The total return to the investor is made up of interest received and any gain or loss made on any particular instrument and that in most cases the return will merely have the effect of increasing or decreasing the daily yield, but in an extreme case it can have the effect of reducing the capital value of the portfolio. The yield is calculated using an annualised seven day rolling average as at the relevant dates provided for in the fund fact sheet. Excessive withdrawals from the portfolio may place the portfolio under liquidity pressures and that in such circumstances a process of ring-fencing of withdrawal instructions and managed payouts over time may be followed. A fund of funds is a portfolio that invests in portfolios of collective investment schemes, which levy their own charges, which could result in a higher fee structure for the fund of funds. A feeder fund is a portfolio that invests in a single portfolio of a collective investment scheme, which levy its own charges, which could result in a higher fee structure for the feeder fund. Please note that Nedgroup Collective Investments (RF) Proprietary Limited is not authorised to and does not provide financial advice. This presentation is of a general nature and intended for information purposes only. It is not intended to address the circumstances of any investor and cannot be relied on as legal, tax or financial advice, either express or implied. Whilst we have taken all reasonable steps to ensure that the information in this document is accurate and current on an ongoing basis, Nedgroup Investments shall accept no responsibility or liability for any inaccuracies, errors or omissions relating to the information and topics covered in this presentation. Nedgroup Collective Investments (RF) Proprietary Limited is a member of the Association for Savings & Investment SA (ASISA). 96