To make sure your electronic valuations and electronic commission and fee reconciliation continue to work as usual, we have worked closely with Bluecoat Software.
We have also made improvements so you will now be able to access bulk valuations for all of your clients on a daily basis. These can be facilitated directly within FinPlan.
Changes to your software
Together with Bluecoat Software we have ensured that all the required updates will be completed with minimal interruption.
Updating your account numbers
As part of our technology platform upgrade, we are issuing new account numbers for all existing accounts. We will be communicating these new numbers to Bluecoat so they can make the updates on your behalf.
For clients who currently hold both crystallised and uncrystallised holdings in our Collective Retirement Account, we will be creating separate accounts to hold each of these components.
Bluecoat will automatically create the new accounts in FinPlan if they do not already exist.
Updating accounts and data
When pensions are split, the associated data will also be reflected in the new account i.e.
same status, same written date, same account information with the new associated account
number. You can then reflect any appropriate changes or comments within the newly
created account record in FinPlan.
Fee and commission reconciliation (EDI)
Bluecoat will map the new account numbers to any Open or Unapproved EDI statements that have been imported in FinPlan, meaning all receipts that have not yet been reconciled will automatically update to the new policy/account numbers for you.
This will then allow for correct matching once EDIs are approved after the move to our new technology. FinPlan users will not need to reconcile open or unapproved EDI statements for the mapping to take place.
Any receipts that are unallocated at the time of upgrade will not be mapped and will need to be manually reconciled, as per the usual process for unallocated receipts.
Changes to how you request valuations in FinPlan
Bluecoat and Old Mutual Wealth will be adding a new Bulk/Automatic Valuations integration service as part of the replatforming. This will be a credentials-based set up via the Valuations & Transactions tab on the FinPlan homepage. The service will be announced on FinPlan once live.
As part of this set up, you will need your Company Code. To ease the process, we have provided Bluecoat a list of Company Codes. If your Company Code has not been filled in in FinPlan, please contact Bluecoat who will be able to finalise your set up. If you need to find your Company Code, you can do so by following this guide.
If you have any questions or need any help please contact the Bluecoat Software Service Desk using the following details;