In preparation for our technology platform upgrade we have been working closely with Iress to ensure there is minimal disruption to your valuation feeds through Adviser Office.
We will now be offering a more reliable and efficient bulk valuation service which will automatically update valuations for all of your clients’ accounts on a daily basis. This enhanced service replaces the old ‘lightning strike’ valuations for individual accounts.
The information on this page lets you know everything you need to get up and running.
There are some things that you will need to do to prepare for the changes. In particular, if you use Adviser Office's automated fee and commission reconciliation feature (EDI), you'll need to make sure all your remuneration statements are reconciled before you run the new bulk valuation data feed.
The last fee statement from the old platform will be sent to you on the Thursday before you are migrated onto the new technology platform.
Updating adviser office
Our new bulk valuation feed works using the ‘E-services i2’ module of Adviser Office. This module allows you to download bulk valuations from Old Mutual Wealth as well as other providers.
If you are already receiving bulk valuations from us you will already have this installed and just need to configure the feed using the steps in this guide supplied by Iress, prior to migration.
If you do not currently have the ‘E-services i2’ module set up, we have arranged with Iress to support you with the installation prior to migration at no cost to you.
To arrange installation or if you need help configuring ‘E-services i2’ please contact your Iress Account Manager who will put you in touch with one of their specialists.
Your new username and password
In order to configure the ‘E-services i2’ module you will need a new username and password to allow your bulk valuations to download securely.
This username and password will be different to the ones you use to access our technology platform or used to access the previous valuation services.
Your new username and password will be available shortly before we move to our new technology platform and we will be in touch with your designated contact at least a week before the migration to let you know the details.
Updating your account numbers
As part of our technology platform upgrade we will be issuing new account numbers for all existing accounts.
We have worked with Iress to automate this through the ‘E-services i2’ module. The first time you run the new bulk valuation feed through this module it will attempt to match old account numbers and update them automatically, storing the old account number as a ‘Third Party Reference’.
We are also enhancing the Collective Retirement Account (CRA) to allow you to manage crystallised and uncrystallised assets separately. This means that clients that hold both crystallised and uncrystallised assets within a CRA will have their accounts split into two separate sub accounts and each will be given new account numbers.
To make sure any additional account numbers are created automatically, there is a configuration item called 'Plans: Allow Creation', which you will need to make sure you have switched on. It is reached by selecting the Old Mutual Wealth bulk feed in i2 and clicking ‘Configuration’.
With new account numbers allocated, you won't be able to match remuneration from older fee statements automatically, If you haven't finished working with your old fee statements prior to running the new bulk feed, you'll need to do this manually.
There might be some data you’ll want to move from one CRA sub account to the other. It’s worth taking a look at policy dates, premium history, withdrawals, etc. to make sure the reports you generate for your client remain well rounded. If you need help with this, please contact Iress AO support using the details below.
Changes to how you request valuations
If you are currently using Adviser Office’s ‘lightning strike’ function to update individual accounts this will no longer be supported. Once you have been migrated, valuations will update in bulk for all of your clients’ accounts on a daily basis so it is important to ensure you have followed the instructions above to enable this new bulk valuation feed.
Updating fund codes
Once we move to the new bulk valuation data feed we will be changing the code we use to identify assets from MEXID to ISIN. Some users of Adviser Office may not have both of these codes currently stored, so to make things simple when the new bulk valuation feed starts we recommend using the Financial Express feed through Adviser Office to make sure all fund codes are updated automatically.
If you do not currently have ISINs stored in Adviser Office, you can discover how to use the Financial Express feed by reading this guide.
If you have any questions or need any help please contact your Iress Account Manager using the following details:
Iress AO Support
☎+44 (0) 345 068 3000