Introduction to MLC Client Data Exchange USER GUIDE v4.1

Introduction to MLC Client Data Exchange USER GUIDE v4.1

Contents 1 What is the Client Data Exchange service? 2 1.1 Benefits of the Client Data Exchange 2 2 Who can subscribe to Client Data Exchange service? 2 3 How is this different to the existing Client Data Download solution? 3 3.1 Current Client Data Download process 3 3.2 New Client Data Exchange process 3 3.3 Differences between Client Data Download and Client Data Exchange. 4 4 How to access the new Client Data Exchange service? 4 4.1 Pre-registration checklist 4 4.2 High level steps to receive MLC data 5 4.3 Importing data into the financial planning software 8 5 Submitting Online Applications via your financial planning software using the Client Data Exchange service 8 6 Updating your Client Data Exchange account 9 6.1 Update your password 9 6.2 Update financial planning software Information 11 7 Closing your Client Data Exchange account 12 8 How to get support? 12 9 Frequently asked questions (FAQs) 12 1. What is the new Client Data Exchange facility? 12 2. How do I start using the new facility? 12 3. What happens if I was a previous client data download user? 12 4. What do I do if I change the financial planning tool? 12 5. What version of my financial planning tool do I need? 13 6. What is the Password Criteria 13 7. Can I get MasterKey Custom data through EPI? 13 8. If I have multiple Adviser ID with MLC, do I need to register for each of them? 13 9. If I have multiple Adviser IDs with MLC, do I need to register for each of them? 13 10. Does the data include income distributions? 13 1

1 What is the Client Data Exchange service? MLC s new client data exchange service utilises a common industry data exchange standard to enable the transfer of data between all superannuation and investment service providers and financial planning software providers (Coin, Visiplan, Xplan) the standard is known as External Platform Interface (EPI). 1.1 Benefits of the Client Data Exchange The Client Data Exchange functionality enables advisers to receive MLC product data feeds directly into their Financial Planning Software (FPS). Some of the key benefits are: Reduction of manual processes that are part of the existing Client Data Downloads solution by providing data directly to the adviser s software hence increase accuracy Improved data quality. Advisers using VISIPlan software can now subscribe to MLC data feeds via this new functionality Increased software compatibility. Client transaction data is available from inception Greater client historical knowledge Advisers have more flexibility in requesting client s data depending on their software capability which may include data requests at client level and within a date range Improved tailoring of requests. VISIPlan users can now take advantage of a new feature which provides the ability to automatically populate client data from VISIPlan into MLC s Online Application process, therefore removing the need to re-enter client data. 2 Who can subscribe to Client Data Exchange service? Important note: If you are currently using the MLC AdviserCentral software, you should not subscribe to this new service as there are existing data feed specifications for AdviserCentral and this may cause a data conflict with your existing MLC data. The Client Data Exchange service is for the following users: Non Adviser Central software users VISIPlan, XPlan and COIN. 2

3 How is this different to the existing Client Data Download solution? 3.1 Current Client Data Download process 3.2 New Client Data Exchange process 3

3.3 Differences between Client Data Download and Client Data Exchange. Function Client Data Download Client Data Exchange Register via mlc.com.au and account details can be updated online. Data available directly to the adviser s FPS. Two-way data transfer between adviser and MLC via adviser s FPS. Client historical transaction data available from inception. Additional data request to MLC is available directly to advisers via their FPS. 4 How to access the new Client Data Exchange service? 4.1 Pre-registration checklist Important note: Please ensure that you complete the items on this checklist before registering with the Client Data Exchange service. 3 It is advisable to back up all your current data before commencing downloads. 3 If you have previously been downloading data from MLC into your financial FPS, all existing client transactions will be deleted and replaced including notes and additional information added manually. You should ensure that information manually imputed is recorded elsewhere if needed. 3 If you have previously subscribed to the Client Data Download functionality, this subscription will be automatically terminated once you ve registered with the new Client Data Exchange service. 3 Register on mlc.com.au and a separate Client Data Exchange username and password will be issued. You will need these details to upload data into your FPS. 3 The Client Data Exchange password expires every 90 days. You will receive notification prior to expiry. You can update your password on mlc.com.au even after it is expired but no transactions will be sent until the password is renewed. 3 Once you have set up to request data in your financial FPS, data will be available overnight. 4

4.2 High level steps to receive MLC data 4.2.1 To register with Client Data Exchange on mlc.com.au 1. Go to mlc.com.au > under I'm with MLC select Advisers and login using the existing user id and password. 2. Select My Clients tab > Client Data Exchange tab > select the "Register for Client Data Exchange" link. 3. The Client Data Exchange registration screen will be displayed, select the Set up a Client data Exchange account here>> link. 5

4. Select the FPS Platform Details (VISIPlan, XPlan, and COIN) from the drop down list. The User name will be blank until the registration is successfully completed. The system will generate and display a User name only after the SUBMIT button is clicked. 5. Enter and confirm password. Password and Confirm Passwords fields will display **** instead of actual values. The Password Validation Rules are as follows: Must be 8-12 characters Must have at least 2 numbers, 1 special character ( period (.), dash (-) or underscore ( _ ) ) and 2 uppercase letters Must not contain any part of the EPI username Must not be a repeat of the previous 12 passwords Enter your new username and password for registration in your FPS. Please note: The EPI password will expire every 90 days. Resetting your password is required from mlc.com.au. 6. Check the terms and conditions check box and click the SUBMIT button. 6

7. If the information is valid the User Name is generated and the Client Data Exchange Account Confirmation is displayed. 8. If the validation failed an error message will be displayed. Please note: Once the registration has been confirmed, any current subscription to the Client Data Download extracts will be stopped. 7

4.3 Importing data into the financial planning software (FPS) Once you have completed registration for the Client Data Exchange, you can no longer manually download data from the MLC website and upload it into your FPS. Through the new service, data is requested from your FPS and the request will be sent to MLC directly. The data files are then sent to the FPS. For further information on how to receive or upload data into you FPS, please contact your FPS vendor. 4.3.1 Types of data requests available*: Historical Data* Data feed from inception to as on date of registration / re-request date. Request will be either at adviser level or client level, in both cases the adviser details are mandatory information. Download Portfolio Client List* Advisers are able to receive a list of clients as at a current date. Only Client details will be returned as part of this request and no transaction and account details will be supplied. Download Portfolio data for adviser* Advisers are able to receive daily or historical transactions for a specific day or date range for all clients attached with the adviser via their FPS. Download Portfolio data for client(s)* Advisers are able to receive daily or historical transactions for a specific day or date range for an individual or a list of clients attached with the adviser. * Depending on your FPS, some of these functions may not be available. 5 Submitting Online Applications via your FPS using the Client Data Exchange service VISIPlan users can now take advantage of a new feature from MLC Online Applications This feature has the ability to automatically populate client data from VISIPlan onto the application form, removing the need to re-enter the data. MLC Products that are currently available with Online Applications and will be made available from your FPS (please check with your FPS vendor for availability): MasterKey Investment Service & MasterKey Investment Service Fundamentals MasterKey Super & MasterKey Super Fundamentals MasterKey Pension & MasterKey Pension Fundamentals Personal Protection Portfolio. 8

To use MLC s Online Application from your FPS: 1. Launch an online application from your FPS for a specific client (see your FPS guide). Your FPS may require that you enter your MasterKey login ID and password before proceeding. For the initial release, only new business applications are available. 2. Once the details are verified, the mlc.com.au login and password page is launched in a new window. Enter your MasterKey login and password. The system can now verify the details you enter in your FPS to match the website login and password. 3. Online Application is displayed with client details already populated from your FPS. Complete the application and choose to save or submit the application. 6 Updating your Client Data Exchange account Once you have registered with the Client Data Exchange, you are able to update the following account details via the MLC website. 6.1 Update your password Client Data Exchange password will expire every 90 days and you must change the password via the MLC website. You are able to change the password even after it is expired and you do not need to remember the existing password to update it. Important note: No client transaction data will be sent until the password is updated. 1. Log into mlc.com.au and on the Reporting menu, select Client Data Download option. If the adviser is NOT Registered for the Client Data Exchange then the Client Data Download Welcome Screen will be displayed, see section 4.2 for registration instructions. 9

2. For registered advisers, the Client Data Download Account Update screen is displayed 3. Enter the new password in Enter Password box and re-enter the new password in Confirm Password box. 4. Click the SUBMIT button to confirm password. 5. Once the update is successful, a confirmation screen will be displayed. If your password does not meet the criteria, an error message will be displayed. 10

6.2 Update financial planning software Information If you change your financial planning service software provider, you will need to update your account information for Client Data Exchange via the MLC website. This will ensure that the previous FPS vendor will not be able to access your client data Note: This update will force a password change. The USER ID will not change Log into mlc.com.au and navigate to the Client Data Exchange menu. If the adviser is NOT Registered for EPI Service then the Client Data Exchange information screen will be displayed, see section 4.2.1 to register for the EPI service. 1. For registered advisers, the Client Data Exchange Account Update screen is displayed 2. System displays the current account status (Platform details, User Name, Password Blank ) 3. Select the New FPS Platform details from the list box (VISIPlan, XPlan, and Coin). When FPS details are changed the user must change the password as well. 4. Create new password and confirm. Click SUBMIT 11

7 Closing your Client Data Exchange account To unsubscribe to the Client Data Exchange service, advisers will need to call the MLC Adviser Hotline at 133 652 and request to deactivate their account. 8 How to get support? For information on the MLC Registration process and product offerings contact the MLC Adviser hotline 133 652 For information on the VISIPlan or XPlan software including version upgrades contact IRESS Helpdesk 1300 153 735 9 Frequently asked questions (FAQs) 1. What is the new Client Data Exchange facility? The new Client Data Exchange facility enables you to request client data direct from your FPS. Once you have submitted your details, you can download client data for MasterKey Custom and MasterKey from inception. You will also be able to submit your client details via your financial planning tool to MLC s Online Application process to reduce double entry of client data in your office. 2. How do I start using the new facility? 1. After logging into mlc.com.au and selecting the client data download option under Reporting 2. Follow the steps outlined in Section 4 under Registration 3. You will be given a User Name 4. You must then submit these credentials into your financial planning tool. 5. You can then request client data on a daily basis or any historical data range from your financial planning tool 6. You can also send client data to MLC s Online Application facility 3. How do advisers that only have MasterKeyCustom clients access the new facility? To access the new facility, advisers with MasterKey Custom clients will need access to the mlc.com.au website. This is because the new facility can only be registered via the mlc.com.au website and advisers need to contact the Adviser Hotline 133 652, option 6 to gain access. They can then refer to the registration process outlined in section 4. 4. What happens if I was a previous client data download user? If you were downloading client data previously from our website, then to take advantage of the new Client Data Exchange, you will have to resubmit your details, as outlined above and complete the process above. Once you have submitted your details you will not be required to download your daily client data files from our website and can initiate these requests via your financial planning tool. 12

9 Frequently asked questions (FAQs) (continued) 5. What if I change the financial planning tool that I use? If you change your financial planning tool: a. Under the Client Data Exchange section of mlc.com.au, Select your NEW financial planning tool b. Enter a new Password (please note it must contain at least 1 number and 1 letter) and must be different from your website password. c. Click Submit d. You will retain your User Name e. You must then submit these credentials into your NEW financial planning tool. f. You can then request client data on a daily basis or any historical data range from your financial planning tool. You can also send client data to MLC s Online Application facility 6. What version of my financial planning tool do I need? To use the new client data download facility you must ensure that you have the correct version of your financial planning tool: VISIplan - Version 7.4 and above Xplan - Version 1.28.26 and above Coin - Version 2.8.0.10032 and above 7. What is the Password Criteria The following Password Criteria apply to the Client Data Exchange only: 1. Min 8 Characters and Max 12 Characters 2. At least 2 embedded numbers 3. At least 1 special character: period (.), dash (-) or underscore ( _ ) 4. At least 2 uppercase letters 5. Must not contain any part of the username 6. Must not be a repeat of the previous 12 passwords Note: The Password must be changed every 90 days 8. Can I get MasterKey Custom data through Client Data Exchange? Yes, client data will be provided for both MasterKey and MasterKey Custom since inception. 9. If I have multiple Adviser IDs with MLC, do I need to register for each of them? Yes, if you have multiple Adviser IDs or logins IDs each ID should be registered for Client Data Exchange on the mlc.com.au. 10. Does the data include income distributions? Transaction information includes full income distributions from MasterKey Custom and MasterKey Unit Trust (where applicable). 13

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