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Platform release - November 2021

In our latest release, we have implemented a number of enhancements designed to help model portfolio users on the 7IM platform, in addition to some other improvements. Look out for more DFM enhancements to come in 2022.

Here are the changes we have made in this release:

New DFM report

You now have the ability to download a report showing you all your clients’ accounts that are currently linked to a DFM model, which includes the value of each of those accounts, the DFM fee, and when they were last rebalanced.

Go to Reports > DFM Models > DFM Model Portfolios

Video transcript

The 7IM platform is well suited for investing in a discretionary model portfolio service (or MPS) for clients. For more about this, please watch our other video on this subject.

In this video, we’re going to look at how you can get data on which of your clients are invested in which DFM model and we’ll also show you some tips about how you can use a spreadsheet to analyse and present this data for management and oversight purposes.

Firstly, go to the Reports menu, then DFM Reports, then choose DFM Model Portfolios. This will download a CSV file containing data that will show every account that is linked to a DFM model, the name of the DFM and the name of the model, the DFM fee, the value of each account, and also the date it was last rebalanced.

From here, you can add filters to the columns either by using the menu above or a key combination of Ctrl + Shift + L. This is probably the easiest way to add filters. Once you’ve added the filters, of course you can use these to sort or search to find the information that you’re after.

For further analysis and presentation, you can use the pivot table and chart tools in your spreadsheet, which we will now go through in a bit more detail.

To create a pivot table, choose Insert, then PivotTable and then click OK.

Now you can choose the various pieces of information that you want to show by dragging that field into one of the four areas below.

For example, if you drag the DFM name into the Row section and then the Portfolio Value into the Sum Values section, you’ll be able to see the total level of assets your firm has with each different DFM. You can sort this by right-clicking on the column and choosing sort.

You can have multiple columns of information showing together in the pivot table. For example, by dragging the Portfolio ID field into the Sum Values column, it will also show the number of accounts linked to each DFM. You may want to change the formatting of some of these to make them easier to read.

If you then drag the DFM model name into the Row section, you’ll also then get a breakdown of assets for each model.

Alternatively, you could drag the DFM name into the Filters section and leave the DFM model name in the Row section and this will give you a filter, and you can then select a particular DFM and the table will display the information just for that DFM.

Once you have created a pivot table showing the information you want, you can then use the chart tool to create a graph of that information.

For example, you might want a pie chart of the assets split by DFM or a bar chart showing the assets that you have with each DFM.

These are just a selection of the tools you can use in the spreadsheets and these spreadsheet tools can be useful with many of the other reports that you can download from our platform.

We hope you have found this video useful. Please contact us if you would like any further information or help using our platform.

New DFM rebalance exclusions report

In addition to the clients linked DFM report, you can now also download a report detailing the accounts that have been excluded from a bulk DFM rebalance, allowing you to follow-up and take action, such as rebalancing manually, if you wish.

Go to Reports > DFM Models > DFM rebalance exclusions

Look out for further enhancements to this report next year, when we look to include additional information about the reasons for the accounts to have been excluded.

Model name to appear in dealing screens

You can now see the name of the model, whether DFM or advisory, on both the order sheet in the instruction to deal section and the My Orders section of the 7IM Platform, making it easier to identify models before trades are placed, minimising the risk of the wrong model being selected. It also improves the clarity of the historical audit trail after trades have been placed.

Account closure process improved

We have introduced a new process for collecting the final fees on closing accounts, which will speed up the closure of the account and the final transfer or payment of money to the client or new provider.

Automation of non-GBP fees

We have improved the fee payment process where clients are paying you fees in currencies other than GBP.

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