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Uploading Client’s Fee Data
Uploading a client’s revenue data can save considerable time when producing Fee Disclosure Statements.
Revenue statements from Providers or from your AFSL’s revenue system (e.g., Revex, Commpay) can be uploaded to AdviserLogic, which feeds directly to the client’s compliance module. Revenue processed through PayLogic, Morningstar's revenue processing application, will automatically populate into AdviserLogic.
Overview of process
Each month (or week), upload the revenue file to AdviserLogic Fee Upload
AdviserLogic has built-in ‘Schemas’ that allow AdviserLogic to read the file and identify clients and their fee data.
The first time a client’s fee is uploaded, a once-off mapping process is needed to match the client account to the client record in AdviserLogic. Thereafter, this mapping is stored, and the data will load automatically.
When the file is uploaded, go to Orphan Fee Records to do the once-off mapping.
Once all clients have been mapped, it is an extremely straightforward process each month to upload the file, and the fees are automatically allocated to the client.
Although we have built Schemas to be able to read the files, sometimes a file may have slightly different column names or cell data, making it incompatible with the upload form.
If this occurs, a pop-up message will appear, requesting to Merge Schema.
Selecting Combine the Parameters will activate a pop-up with multiple options to update the Schema and ensure that the file is uploaded successfully by matching the different parameters to the correct fields within the program.
The two options to match the existing Schema with the new parameters.
If the columns of the file do not match the columns in the Schema, a Column name change option will show:
Map a column from the uploaded file with a column in the saved schema of a provider.
Parameter in Schema - This field will display the name of the column that is present in the saved schema for which an exact match is not found in the uploaded file.
Parameter in File - This field will display a list of names of all the columns present in the uploaded file and from the drop-down we can select the correct field.
Alternatively, if the Fee type needs to be updated in the new file; Select the Change in Fee type option from the bottom section of the Merge window. This makes it possible to add a new fee type that is present in the uploaded file and merge it with the existing schema.
Existing Fee Type in Schema - This field displays the names of all the existing fee types that are present in the saved schema.
New fee type in Uploaded File - This field displays the name of any new fee type that is present in the uploaded file. Another drop-down field displays the names of Fee types, along with whom the uploaded file's Fee type will be mapped to in AdviserLogic.
There are 5 options in the Fee Type drop-down
Ongoing
Upfront
One-off
Insurance Renewal
Other
Once the requisite option has been chosen, select Next.
This will redirect to a new pop-up window with two options displayed at the top right corner.
Merge – Allows the Merge process to be completed and will be greyed out until all the fields of every section have been selected. A File successfully merged notification will briefly show when the action has been successfully completed.
Cancel – Allows the termination of the entire process, and if selected, a confirmation prompt displays requesting a confirmation action Confirm / Cancel.
The files will begin uploading. Progress can be seen from the bars on the right side. When the upload is complete, a summary message will be generated to confirm what data has been found and imported.
These will now appear in the client’s compliance record. If not, please follow the FOFA Orphan Fee Records instructions.
