Dear Customers,
Important Reminder - please read & understand what you need to do
New Process
Where money is received, without an expectation on the Portal, OR there is an expectation but the amount is outside of our 10% tolerance rule, the money will be applied as a ring-fenced cash amount and NOT invested.
Why this has been introduced
To further enable Straight Through Processing (STP), cash is only applied via STP when an Account ID has a valid expectation in the Portal.
An exception is created when this is not the case. The new process streamlines our ability to advise you of the situation and enables you to react appropriately.
The importance of entering correct expectations in the Portal must be re-emphasised to appropriate team members at your firm please.
How we advise you
Via email notification to the address we have registered for your firm.
Ensure that this is set correctly to be viewed by the appropriate staff.
This advises you that a report requires your attention.
Where to view the report
Via your SFTP site AND the new Company Reports area of the Admin Menu on the Portal.
Actions required
If the payment is valid, via the All Account Actions Cog in the Portal, you must:
Remove the ringfence
Instruct “invest surplus cash”
If the payment is invalid then raise a Freshdesk ticket to instruct next actions.
Actions required re MI Reporting
If you have not yet done so, respond to our previous communication dated 24/9
“Fee breakdowns and MI Reporting - via your Portal permissions- RESPONSES REQUIRED”
A copy is in our Freshdesk Knowledge Base that can be found via your Freshdesk Homepage.
We are starting to close SFTP sites. If you still require SFTP file delivery (i.e. if it is electronically processed at your firm) you MUST let us know by 16 October 2020.
Further information
If the expectation has a contingent adviser fee payable, this payment will be triggered even if the cash amount is outside tolerance. The fee will be marked as paid, so any subsequent instalments received will not result in paying the adviser fee again.
Should you have any questions then please contact our Customer Services Team via your Freshdesk Account or by emailing Customer.Services@Hubwise.co.
Was this article helpful?
That’s Great!
Thank you for your feedback
Sorry! We couldn't be helpful
Thank you for your feedback
Feedback sent
We appreciate your effort and will try to fix the article