This has been in our backlog for some time now and we are happy to have the opportunity to finally deliver this functionality to you. It’s one of those things where if you don’t have Bank Networking Relationships, you won’t miss it, but if you do, you’ll love it.
Bank Networking Agreements (BNAs)
How Do BNAs Work?
First a little behind-the-scenes information: If you conduct BNA business, you have been assigned a dedicated, and required BNA rep code. Whenever you select or create and save a client record using the dedicated BNA rep code, a BNA form needs to be included in the paperwork.
Now the fun stuff: What eQuipt for New Accounts does automatically is determine whether to serve you with BNA paperwork based on your BNA rep code that’s been assigned to that client.
• For a new client, eQuipt will auto-include the form in the eSign bundle
• For an existing client: eQuipt will auto-recognize that a BNA has previously been delivered to the client and will only include the specific BNA form version for that client.
eQuipt for New Accounts can now support Strategist UMA Models, including models that were made available earlier in the year.
Unified Managed Accounts (UMA) Product Subtype
ABC
When opening a UMA account, a new "Program" dropdown allows you to select UMA or Strategist UMA.
eQuipt now supports the ability to select Dividend / Interest when opening a new account. Now you can select from the following:
Pay all distributions in cash and credit the core account investment vehicle
Reinvest mutual funds and equities
Reinvest equities only
Reinvest mutual funds only
NFS Dividend and Interest Options
account investment vehicle
ABC
On the “Account Details” screen, you will see a new dropdown added to the “Other Account Details” question group. The default selection is “Reinvest Mutual Funds Only.”
BNAs are also eSignature eligible!
Keep the Upgrades Coming
eQuipt for New Accounts
Updates for 4.23.2021
We have battle-tested this new design with a variety of Financial Professionals and incorporated a lot of their essential feedback. We hope we hit the mark!
1. Broker-Dealer Documents are separated from Custodian Documents
2. Custody Accounts display account-level eDelivery preferences
3. Clients can edit Custody Account eDelivery Preferences by selecting the “Edit All” button
4. “Edit All” takes the user to the “eDelivery Preferences” editor
Redesigned eDelivery Preferences
Positioning for Paperless!
For this small but mighty release, and staying true to our commitment to Bolster eDelivery, Client Portal now has a new eDelivery preferences page. The page simplifies eDelivery enrollment and clearly delineates documents generated by the Broker-Dealer and the Clearing Firm. Also, the new “eDelivery Preferences” feature enables the client to see their eDelivery settings at the account level. Soon, you will also be able to view your client’s account-level eDelivery setting in eQuipt Dashboard. This functionality will be delivered in an upcoming release.
eQuipt Client Portal
As part of the development process, we continue to evaluate opportunities to address your feedback. In this release, we felt like we identified a quick-win that we hoped would alleviate confusion when entering “Service Totals” for your “Financial Planning Engagement.”
We received consistent feedback that the “Service Subtotal” and “Invoice Total” calculations were confusing, so we changed the labels and added a Tooltip to better explain the values being entered and calculated.
1. The total amount entered for the Service Type being provided
2. Tooltip added to help define “Service Total”
3. “Invoice Total” is the summation of all “Service Totals” due in the First Invoice
Example:
• If you provide a client with a “Financial Services” and the total cost of those services is $2,000 = $2,000 Service Total
• If that $2,000 Service Total is “Billed” in two, payments = $1,000 Invoice Total
• If you provide “Financial Services” for $2,000 and provide "Additional Services” the include a “Portfolio Review and Evaluation” for “Flat Fee” of $500, and it was only “Billed” one time = $2,500 is both the Service Total and the Invoice Total
As we continue to focus on new features and upgrades across the entire eQuipt ecosystem, be on the lookout for some exciting changes in the coming months.
Just to name a few, these changes include:
• New eDelivery tools in eQuipt Dashboard
• New email templates across all the eQuipt applications
•. A new security feature added to eQuipt Client Portal
The eQuipt Team
All the best,
Until Next Time…
Service Subtotal Upgrade
Chipping Away at User Feedback
eQuipt for Financial Planning
This has been in our backlog for some time now and we are happy to have the opportunity to finally deliver this functionality to you. It’s one of those things where if you don’t have Bank Networking Relationships, you won’t miss it, but if you do, you’ll love it.
Bank Networking Agreements (BNAs)
How Do BNAs Work?
First a little behind-the-scenes information: If you conduct BNA business, you have been assigned a dedicated, and required BNA rep code. Whenever you select or create and save a client record using the dedicated BNA rep code, a BNA form needs to be included in the paperwork.
Now the fun stuff: What eQuipt for New Accounts does automatically is determine whether to serve you with BNA paperwork based on your BNA rep code that’s been assigned to that client.
• For a new client, eQuipt will auto-include the form in the eSign bundle
• For an existing client: eQuipt will auto-recognize that a BNA has previously been delivered to the client and will only include the specific BNA form version for that client.
eQuipt for New Accounts can now support Strategist UMA Models, including models that were made available earlier in the year.
Unified Managed Accounts (UMA) Product Subtype
When opening a UMA account, a new "Program" dropdown allows you to select UMA or Strategist UMA.
eQuipt now supports the ability to select Dividend / Interest when opening a new account. Now you can select from the following:
Pay all distributions in cash and credit the core account investment vehicle
Reinvest mutual funds and equities
Reinvest equities only
Reinvest mutual funds only
NFS Dividend and Interest Options
account investment vehicle
ABC
On the “Account Details” screen, you will see a new dropdown added to the “Other Account Details” question group. The default selection is “Reinvest Mutual Funds Only.”
BNAs are also eSignature eligible!
Keep the Upgrades Coming
eQuipt for New Accounts
Updates for 4.23.2021
For this small but mighty release, and staying true to our commitment to Bolster eDelivery, Client Portal now has a new eDelivery preferences page. The page simplifies eDelivery enrollment and clearly delineates documents generated by the Broker-Dealer and the Clearing Firm. Also, the new “eDelivery Preferences” feature enables the client to see their eDelivery settings at the account level. Soon, you will also be able to view your client’s account-level eDelivery setting in eQuipt Dashboard. This functionality will be delivered in an upcoming release.
We have battle-tested this new design with a variety of Financial Professionals and incorporated a lot of their essential feedback. We hope we hit the mark!
1. Broker-Dealer Documents are separated from Custodian Documents
2. Custody Accounts display account-level eDelivery preferences
3. Clients can edit Custody Account eDelivery Preferences by selecting the “Edit All” button
4. “Edit All” takes the user to the “eDelivery Preferences” editor
Redesigned eDelivery Preferences
Positioning for Paperless!
eQuipt Client Portal
As part of the development process, we continue to evaluate opportunities to address your feedback. In this release, we felt like we identified a quick-win that we hoped would alleviate confusion when entering “Service Totals” for your “Financial Planning Engagement.”
We received consistent feedback that the “Service Subtotal” and “Invoice Total” calculations were confusing, so we changed the labels and added a Tooltip to better explain the values being entered and calculated.
1. The total amount entered for the Service Type being provided
2. Tooltip added to help define “Service Total”
3. “Invoice Total” is the summation of all “Service Totals” due in the First Invoice
Example:
• If you provide a client with a “Financial Services” and the total cost of those services is $2,000 = $2,000 Service Total
• If that $2,000 Service Total is “Billed” in two, payments = $1,000 Invoice Total
• If you provide “Financial Services” for $2,000 and provide "Additional Services” the include a “Portfolio Review and Evaluation” for “Flat Fee” of $500, and it was only “Billed” one time = $2,500 is both the Service Total and the Invoice Total
As we continue to focus on new features and upgrades across the entire eQuipt ecosystem, be on the lookout for some exciting changes in the coming months.
Just to name a few, these changes include:
• New eDelivery tools in eQuipt Dashboard
• New email templates across all the eQuipt applications
•. A new security feature added to eQuipt Client Portal
The eQuipt Team
All the best,
Until Next Time…
Service Subtotal Upgrade
Chipping Away at User Feedback
eQuipt for Financial Planning