7 October 2022
In our ongoing endeavour to make it easier to do business with Glacier, we have implemented various enhancements to the intermediary web and mobile functionality, effective 30 September 2022.
Intermediary web
Record of Advice: Functionality available for independent financial advisers as well
In the 18 August issue of Glacier Weekly we advised that, effective 12 August, both externally generated FAIS documents and/or the compliance questionnaire (advice or record of advice document) can be generated and added whilst performing an online switch or a rebalance transaction on the Intermediary web. These documents could form part of the total Record of Advice required in legislation or serve as the Record of Advice. (Refer to this article)
At the time, this functionality was made available to Sanlam Financial Advisers only.
Effective 30 September, this feature is now also available to independent advisers.
Please note that independent financial advisers are not required to attach a Record of Advice. However, we have made this feature available for those that would like to do so, for ease of use.
Mobile enhancements
‘Other Source of Funds (Money)’ option on top-up transactions (for mobile)
As part of the Party Due Diligence (PDD) requirements, the source of funds needs to be captured on certain transactions, including a top-up.
When capturing the information needed for a top-up, clients are given options when inputting the source of funds. If ‘Other’ is selected as the source of funds, then an open text field will appear, and the client is required to capture the origin of the source of funds (if it is not one of the options in the dropdown list). This information is then collated and included with the Top-Up Request and saved to the database.
Exposure: New menu item (for mobile)
We have added a new menu item that will provide a quick overview of the asset class exposure of the client’s existing plans.
When logging in to the mobile web or Sanlam Portfolio app, a client can now choose to view the asset class exposure of all their Glacier plans. This functionality was previously only available to desktop users. On selection of a specific plan, the exposure will display in the form of a graph. If Regulation 28 is applicable on the product, the client will also see if the plan is compliant or non-compliant and which asset classes should be adjusted. The non-compliant categories are indicated in red, making it easy to see where adjustments are required.
