RELEASE NOTES

JANUARY 2024

This Month’s New Features & Platform Updates from GeoWealth

3 Release Notes

Key January Enhancements

Custodial Relationship & Integration with AxosNEW!

Detail: GeoWealth is now fully integrated with Axos Advisor Services for data and trading.

Improvement: GeoWealth is now able to service all RIAs that currently custody or plan to custody at Axos Advisor Services. The integration extends to all platform capabilities including trading, custodial data, billing, and reporting.

TIP: If you have any interest in leveraging our new Axos Advisor Services integration, please contact your dedicated Strategic Consultant to start the process.

Updated Account Number Masking in New Reporting CenterENHANCED

Detail: For security and confidentiality purposes, reports are often required to have account numbers masked when sending reports to investors, especially when delivered via email.

Improvement: Users now have the option to fully mask account numbers or to mask all but the last 4 characters of account numbers in reports. When the account number is included in the PDF of Excel file name, it is also masked there.

TIP: This new feature is only available in the new Reporting Center. If you have questions about accessing or using the new Reporting Center, reach out to your designated Strategic Consultant.

Custom Workflows for Home OfficesENHANCED

Detail: Our new Custom Workflows functionality will allow home offices to build and track custom Service Requests created specifically for their advisors’ needs.

Improvement: These workflows can be established to create requests for advisors to submit client address changes, beneficiary updates, billing changes, account closures, or any manner of firm-specific request desired for your business.

TIP: If your Home Office is ready to get started, reach out to your designated Strategic Consultant to discuss options and use cases for your firm.

Service Center

High Volume Searches on Trading Requests Grid

Detail: When attempting to run a search on the Trading Request grid that may return a significant number of results, users have experienced issues with platform slowness and server timeouts.

Improvement: Going forward, any searches that would have returned over 10,000 results will prompt an additional popup where users can apply additional filters to narrow down results on the page.

TIP: This feature will be primarily useful to firm-level users on high volume sites when attempting to use the “All” quick filter

Discretionary Sells Are Now Organized Alphabetically

Detail: When submitting a New Investment, Change Management Investment, or Inject Cash service request that uses a Discretionary portfolio for funding, the holdings within the portfolio are currently organized randomly.

Improvement: Holdings will be organized alphabetically going forward, making it easier to locate specific holdings to sell (particularly when the portfolio includes many holdings).

Client Portal

Inclusion of Clients Tab on Household and Custom Group-Level Logins

Detail: When a Household or Custom Group is given access to the Client Portal, the login includes an Accounts tab to enable users to segment the data by account, but it does not include a Clients tab.

Improvement: With this enhancement, a Clients Tab can be enabled on Household and Custom Group Client Portal logins to allow for client-level segmentation of data.

TIP: This feature is controlled by a firm-level configuration, as well as a household/group-level configuration that can be used to override the firm default if needed.

Account Opening

Integration of Schwab ACH/Money Link Form in Account Opening Workflow Account Funding Section

Detail: ACH/Money Link used to be part of the Schwab Account Opening process and was later removed. Per feedback from our partners, we have added this back as an option to collect Funding information.

Improvement: Offers clients an additional option for funding, alongside existing methods, enhancing the overall client experience.

Beneficiary Tab at the Account Level Now Available for All Custodians

Detail: Previously the Beneficiaries tab at the Account level was only populating for Accounts linked through the Account Opening workflow.

Improvement: The Beneficiaries Tab will now be available for all custodians whether they’ve utilized the Account Opening workflow or not. Generic fields will populate, and the user/advisors can enter beneficiary information as required.

TIP: This feature is permission-based.

Beneficiary Tab Is Now Auto-Populating When Account Is Open And Linked

Detail: Beneficiaries Tab now auto populates at the account level when Account opened through our Account Opening workflow. However, a bug was found that required users to manually enter the beneficiary information after account was linked.

Improvement: Bug was fixed to auto-populate the Beneficiary tab and all the information and values will transfer across from the Account Opening workflow at the account level.

Schwab Forms: Default Firm-level Values Now Available For Advisors To Edit

 Detail: Charles Schwab firm-level values were hard coded for all advisors that use the Account Opening workflow. All advisors used the same values for the fields below.

  • Email
  • Phone
  • Master account
  • Firm Name
  • Service Team
  • Investment Advisor Contact Name

Improvement: Now that we are introducing more advisors that have different Master accounts numbers, we made the above fields editable by creating Custom CRM fields that will have default values but can be edited by users in Detail & Activity.

Reporting Center

NOTE: The following updates are only available in the new Reporting Center. You can access the new report options by navigating to the Avilable Reports and Prepared Reports tab in the Reporting Center. Reach out to your designated Strategic Consultant with any questions.

IRR Performance Option Now Available

Detail: Many of our reports exclusively used the TWRR (Time Weighted Rate of Return) methodology. IRR (Internal Rate of Return) may be a preferred methodology for some users to reflect the growth of investments made over time.

Improvement: Users have the option of selecting either TWRR or IRR in the Account Breakdown, Portfolio Breakdown, Portfolio Performance, and Sleeve Performance reports

Performance by Asset Class Report Across Time Periods

Detail: The Performance by Asset Class report included only a single row when an asset class was not continuously held during the reporting period. This could cause inaccurate and/or confusing representation of an asset class’s performance.

Improvement: The Performance by Asset Class report now reports multiple rows when there has been a gap in holding periods for an asset class. Each row’s start and end dates reflect the respective holding periods and performance for that period.

Global Cash Balances Report & General Firm-level Reports

Detail: The accrued interest as of a point in time was not available in a multi-account report. In addition, firm-wide reports did not include accounts that had no advisor assigned.

Improvement: The Global Cash Balances report now includes an Accrued Interest column and accounts with no household are reported. Accounts with no advisor are included in reports run for the firm overall (Target Entity of All Advisors).

Account Summary Report

Detail: Users were cross-referencing the Account Summary report with other reports or extracts to get all the account information needed to complete a task.

Improvement: Additional columns for household primary email, client primary email, and advisor contact type have been added to the report and a new None option is available in the Management Firm filter.

Enhanced Custom Report Permissioning

Detail: Custom reports created in the new Reporting Center had limited permissioning options.

Improvement: The Share Report functionality has been updated to control which users have access to the report. A Private report is visible to the creating user only. A Within Team report is visible to all firm-level users and any user the creating user shares in. A Within Firm report is visible to all users in the firm.

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