FA Client Portal 1.7 - Release notes
Released: December 2023
FA Client Portal 1.7 enables you to set up monthly savings and create switch orders. It also offers other smaller improvements.
Monthly savings
Why?
This feature was implemented because many asset managers want to offer monthly savings for their end clients.
Who is this for?
This feature is for users who want to offer monthly savings to their end clients.
Details
Many financial service providers offer investors a monthly savings feature, allowing them to deposit a set amount of funds each month. FA Client Portal 1.7 enables end-clients to set up savings plans specific to their portfolios.
From the menu in the top right, the user can launch a stepwise monthly savings wizard. They then fill in the required information including the portfolio, deposit amount, and deposit date and months. The monthly savings process in FA Back uses this information and generates deposit transactions accordingly.
There is also a mechanism for you to toggle the visibility of the monthly savings wizard for the end client. If at least one of the end-clients portfolios is in the portfolio group CP_MONTHLYSAVINGS, they can launch the monthly savings wizard. The user can only set up monthly savings plans for portfolios that are in this group.
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Learn more: Monthly savings in FA Client Portal in FA Client Portal reference
Switch orders
Why?
This feature was implemented because of a need for a way to create switch orders (redemption + subscription) for mutual funds.
Who is this for?
This feature is for all users who want to create switch orders for mutual funds.
Details
Until now, placing switch orders has been possible in FA Front by selecting a security to switch from (redeem) and a security to switch to (subscribe). A background rule handles updating the subscription order once the redemption order is executed (the subscription trade amount is updated with the results of the redemption).
This new feature introduces a way to place switch orders in FA Client Portal. If a security has the tags "Trade type-Switch" and "Tradeable," a “Switch” button appears in the Holdings view and in the Holdings details view. The user can initiate a switch order by clicking the button and then selecting the security to switch from and to in the input screen.
When the switch is confirmed, a redemption order is created for the trade amount or units provided. It links to a 0-valued subscription order that is automatically updated once the redemption order is executed using trade order execution in FA Back. The subscription order is then updated with the trade amount received from the redemption order and can be sent to the market.
Users can view switch orders in the Orders view, and if cancellation is enabled, they can cancel switch orders that have not been processed further or sent to the market.
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Learn more: Switching fund positions in FA Client Portal reference
Other improvements
For a better user experience, the monthly investments wizard no longer takes up the full width and height of the screen.
The monthly investments wizard now allows users to edit existing savings plans.
The order input form now has improved validation. Orders based on trade amount are validated as multiples of the unit price and block size, and orders based on amount are rounded in the interface. The user is also informed via a tooltip what the allowed amounts are.
Fixes
Fixed an issue with the monthly investments wizard sometimes showing too many decimals in step 3.
Links to security details in the monthly investment wizard now work.
Improved interface texts for monthly investments for a better user experience.
The performance graph now shows the full period if the “All” option is selected.
Fixed a problem with Overview and Holdings view that caused an error if the response from Analytics+ was empty.