| Question | Answer |
| What is the major difference in the transitional FDS template vs the new FDS? | Some codes that generate dates are slightly different. This has been done to accommodate scenarios where the anniversary date needs to be set for the first time. In this case the standard AdviceOS codes won't pick up the correct dates. The transitional template has specific codes that will pick up the correct dates based on the newly set anniversary date. |
| Is a transitional template only to be used when a new Anniversary date is added in? | That is correct. A transitional template is only required when a client is getting their first FDS in FY22 and the anniversary date is different to the disclosure date you were previously tracking towards. |
| Are the previous dates of ‘Client consent received’ stored in a file note given it gets reset for the next period? Does it capture the date you select the Continue Agreement option somewhere? | The client consent response dates aren't stored in a file note as they are available to view in the manage client consent page. Continuing an agreement doesn't create a file note but does change the status of the period to 'current'. |
| Does the transitional FDS need to be signed by the client? | A transitional FDS is provided just so the system can cater for an anniversary date that isn't in line with the previous period. In this way, a transitional FDS should be treated under the same compliance rules as a normal FDS. |
| What happens if I generate the FDS off the Midwinter platform? Do I need to follow the same steps to ensure everything is displaying correctly? | Yes, we recommend that users follow the same steps to ensure dates/services/fees populate in the generated FDS correctly. These steps can be found in the User Guide on the help centre. |
| To clarify, technically, no Transitional FDS needs to be sent until June 2022? | We would recommend you confer with your relevant compliance team or consultant. The system will allow users to generate transitional FDS' through and past FY22 to allow for users to manage FDS' in line with their practice processes |
| If we have not created a service agreement in midwinter for an existing client, is it ok to do that now? | Yes, a new service agreement will need to be created first before an FDS can be generated. You can create a new service agreement on Setup Agreement tab |
| How can we pick multiple payment methods, paid from bank account and product? | At this stage the best way to manage this in AdviceOS would be capture this in a file note. Midwinter is currently reviewing whether to introduce structure fields to capture this information against the consent records for ease of use |
| Are these event mapping automatically set up? | Event mapping needs to be manually set up by user but once done will be set up for all of your clients. There are additional guides for event mapping available on the help centre. |
| Are the Reporting filter's going to be updated at some stage to be able to report on the new fields created rather than the old disclosure & opt-in options? | There is a new report called 'FDS Agreements & Period' under the 'Reporting Hub'. This report provides all the dates relevant to FDS' under the new rules. Midwinter is currently reviewing whether this is sufficient to replace the existing reports in the FDS module or whether existing pages there should also be updated |
| How about Fixed Term Agreements? | At this time AOS does not specifically cater for FTAs, although there are a small number of users that use workarounds to process FTAs (generally using FDS functionality). We are investigating how AOS could specifically cater for FTAs but it's an initiative that is in the early stages. If you want more information on how some advisers are managing FTAs please reach out to the support team. |
| If a client withdraws their consent for e.g. 6 months later, does an FDS need to be sent for that 6 month period? | AdviceOS will allow you to generate an FDS for a period of less than 12 months (using custom dates on the 'Generate FDS' page). Whether this is required from a compliance point of view would need to be referred to your compliance team or consultant as interpretation may differ between experts. |
| With group FDS’ how do you align all their different dates? | AdviceOS allows for an agreement to be setup either for different individuals or for the group together. If the agreement is setup at the group level, or joint, both individuals will share the same due dates. |
| Do we need to cancel the agreement just to change the payment source? | Yes the current agreement will need to be cancelled and new one set up to change payment method in Setup Agreement tab |
| If we don't generate FDS in midwinter, can we just manage dates? Do we have to go through all the same steps? | At this stage, the functionality is focussed on providing a full service FDS module. It is possible to setup custom fields, which could be used to record only the relevant dates. However the system at this stage does not have fields built to only manage FDS dates and not the associated services/fees etc. |
| On the Compliance summary of each client, it is still displaying Disclosure and Opt-In and saying these are not complete. How do I fix this? | If you open the Compliance page of Fact Find and the select the 'Legacy FDS' switch in top right hand corner, you can then see the FDS dates. Some users may not be able to edit these dates. If this is the case, you can contact Midwinter Support who can have this rectified for you temporarily. You would then untick the client so that they no longer have a disclosure or opt-in date. This won't impact the functionality of your new FDS functionality which will maintain its due dates. |
| Could you demonstrate how the FDS report agreements and periods' report should be used? | Users can filter by report level (user practice or DG) and by advisers and show the details of clients who currently have an ongoing service agreement (status important dates etc) |
| Are we able to issue bulk FDS for our clients through AdviceOS irrespective of existing/previous FDS and Opt-in dates and that date become our rolling anniversary date? | If the anniversary date for the clients is changing, it is recommended to use the 'Bulk Roll' feature that allows you to set a new anniversary date on bulk. From this point you could use the 'Bulk FDS' to generate the documents for the same group of clients. These features are also found in Advanced Admin, under the 'bulk FDS' page. |
| If I don’t have access to Advanced Admin, how do I get this? | Please reach out to the support team (info@midwinter.com.au). They can outline whether there are any additional costs and have this turned on for you |
| I generated several clients with a new service period of 28/7/21 - 27/7/22 that were meant to be sent out yesterday but my licensee told me not to send out as they want to update the template used. How do I go about now changing the service period dates that I have set up? | It would be best to re-roll the service periods for those clients and when doing so set new dates based on what is required for those clients. AOS will allow you to have two service periods that overlap. If you want to record the status of the incorrect periods differently, Midwinter support could assist in getting this changed form the backend as well. |
| Can we not set up an agreement unless we enter the fee info also? | To setup an agreement in the system, you just need to know the start date and package (i.e. list of services) the client will get. Once an agreement is setup you can alter the estimated fee that shows in an FDS and of course you can load new fees as they are charged. Changing the estimated fee can be done on the Generate FDS page. The middle part of the page can be expanded to see a summary of the FDS details. One of these fields allows you to edit the estimated fee for the future period. |