eMoney, WealthScape, FMAX, Systems Integrations, Back Office Support, and Client Facing Strategies

ATTN Existing eMoney Users!

On June 2nd eMoney ported all of our individual accounts over to the enterprise version on eMoney at Transamerica. Due to legal and security reasons they could NOT port our client’s passwords. Please be advised that you must make sure that your clients use the new link to access their eMoney portals and you must reset their passwords!

This will most likely occur again when Beta 3 gets started.

WHAT IS eMONEY?

eMoney is the face of the new EcoSystem. Click here to learn more. eMoney allows you to create and present financial strategies to clients, provide a website to anyone for free and allows them to see and connect all of their accounts in one place (Banks, Loans, Outside Investment Accounts, Insurance Policies, and Accounts You Manage). Those who upgrade to the Pro Version will also be able to financially model their client recommendations and show clients their progress towards their financial goals on their client websites! Feeling overwhelmed? Great news, eMoney’s customer service is amazing! You will be shocked at how nice and patient their team is. Call (888) 362-8482 between 8 am and 8 pm Eastern for help with just about literally anything eMoney.

What is WealthScape, FMAX, and NFS?

Many of us are going to learn a some very important vocabulary used at many firms. WealthScape is for submitting Commissionable products (S6 & S7) while FMAX is for submitting Fee Based recommendations for clients (S65 & S66). NFS or National Financial Services also replaces Pershing while FMAX will slowly phase out FOLIO.

What Happens Next?

All NEW accounts will be opened up at Fidelity via WealthScape, FMAX, or you can continue going direct to the companies you already use like SGI or American Funds. OLD accounts will stay where they are for the foreseeable future. Please be aware, the legal and technical aspects of this are still being ironed out. When appropriate you will be given very specific information to relay to your clients about this transition. DO NOT go and tell clients what to expect because we most likely do not yet know.

How do I Access eMoney, WealthScape, and FMAX?

Due to Aegon security policies we must sign on through www.MyWFG.com - there is currently no work around for when www.MyWFG.com is down. Once you login to MyWFG go to Menu in the upper right and click TFA Sales Tools and then look at the bottom left hand side of the screen and click on eMoney. We currently recommend that you enter your as much client information as possible into your Client Relationship Management (CRM) software of choice (Many of us use Wealthbox) first. When you select a client to work on you should see the WealthScape or FMAX buttons on the Facts Page above where you enter your client’s data.

How Do I Get Started?

First, eMoney chat support is coming back soon. Second, eMoney’s customer service is truly world class. Treat them like you would your mother and they will take just as good care of you and your business. Currently, I recommend using the new ecosystem with NEW client relationships while slowly TRANSITION existing clients into the new system during annual reviews.

Our team saw the most success by completing 1 eMoney deployment a week. We broke this down into several meetings:

1) Zoom Appointment, Review Basic Facts with Client for accuracy - never forget, Good Data In = Good Data Out; Bad Data In = Bad Data Out - show them their Client Website, and show them how to Add Accounts

2) Schedule Research, once all accounts have been linked begin building out Advanced Plans and Reports

3) Zoom Appointment, meet back up with the client to review their financial plan with eMoney and make suitable recommendations.

The Differences Between eMoney for Fixed, Suitability, and Fiduciary Agents and Reps? (WIP)

• Life Licensed - Client Website
• Suitability (S6 & S7) -
  
• Fiduciary (S65 & S66) - Advanced Planning, All Reports, Goals, Needs Analysis
  

Liquidation Order Ticket - We still need to do them for now (WIP)

Hi Gianmarco:

Most other broker dealers have what they call switch forms. We decided now not to introduce a new form. We do plan on incorporating the “switch” which will include the required information in the RightBRIDGE report, but that version is still being designed. Also, we have created an integration between eMoney and RightBRIDGE which is almost done and will be available very soon. I think Andrew answered your question, but you have an opinion which we appreciate, and you do not want to do the Liquidation order ticket. I can appreciate that but till we have a way of incorporating the “switch” into the RightBRIDGE report we will continue to ask for Liquidation order ticket. What we are trying to figure out is if there is a surrender charge on the liquidated security. I have lots of examples of “Switch Forms” from other bds that we decided not to use but to create it into the RB report. Let me know if you have further questions and we can talk tomorrow.

Submit your completed Liquidation Order Ticket’s and Managed Money Account Forms through BPM on Wealthscape.

What is a Managed Account Form?

The full name of the form is the ‘Liquidation Order Ticket and Managed Account Disclosure.’

Please note that this does not exist yet in WealthScape.

Please read the above FAQ for further details.

Submit your completed Liquidation Order Ticket’s and Managed Money Account Forms through BPM on Wealthscape.

How to Add SGI, Nationwide, and Pacific Life Accounts

For clients to access their SGI Direct accounts within eMoney, have them log into their, Fidelity, Schwab, or TD account directly and connect from their end.

For Pacific Life and Nationwide policies you can create the connection but will need their policy number to make the connection, not their SSN.

How Do you Move Betterment Accounts to Fidelity Brokerage? (WIP)

Please note the Betterment accounts cannot transfer in-kind. Please complete a non-ACATs Transfer form. A Liquidation Order Ticket and Managed Account Disclosure form is required. We are still waiting Non-ACAT Transfer. Business Review, Suitability Review, and Betterment are aware of these issues.

How to indicate multiple transfers to fund a new account in WealthScape?

Thanks Austin Hogan for the answer - In the "Documents" page toward the end of the app, click on "Optional Documents" then selecting "Transfer of Assets - Additional Assets Schedule". When you click on the hyperlink it will bring up another pop-up (check your pop-up blocker if it doesn't). You can fill it out and it will show up in the Documents tab after it has been completed.

Does anyone know how to add ACH information to an approved account? (WIP)

In the account profile, I can see that there is nothing listed under "Affiliated Bank Information". But when I try to edit the bank info, it will only allow me to edit name, phone, and address. SIDENOTE- for future applications, we can add ACH information from the "Optional Documents" tab when we first make the account.

How to Submit an Annuity in WealthScape/AnnuityNet

Submitting Annuities is now a 2 step process.

• Step 1 is to complete the Suitability analysis with AnnuityNet.
• Step 2, once approved, then you will complete the Annuity Application and Business Submission. More information to follow.

Q: What about VUL’s?

A: At this time, VUL is still paper and manual upload

Q: Does data flows for security benefits plans as well, like solo 401ks and 403b?

A: Those are registrations and most of them are supported

Q: Will we be able to logon directly or do we have to go through mywfg? (~Gwen)

A: You will need to log in from MyWFG. It is Single sign on from MyWFG to these platforms

Q: Did I hear that assets go into a brokerage account first then to other products? Is this program require a 65 license?

A: For advisory you need the S65, but not for Mutual Funds and VAs

Q: Is the pause still in place for qualified money going into Transamerica Alpha? What is the outlook for that?

A: Yes it is

Q: I assume we will be able to use Wealthscape for UIT’s starting on June 6th?

A: Yes you will

Q: Whats the most accurate way to describe this new relationship with Fidelity to clients? AKA Can we say that we clear through Fidelity? (~G)

Q: We still need to complete the requested eMoney migration for this, correct?

A: Yes please

Q: When does the lockout begin on our eMoney accounts? How should we handle that migration on our end? (~G)

Q: When MyWFG is down, is there any way of accessing any of the new platform?

Q: Are there any securities business sections that will still have to go through Firelight/paperwork/Docupace etc other than VUL? (~Gwen)

Q: When does the lockout begin on our eMoney accounts? How should we handle that migration on our end? (~G)

A: eMoney will assist in the migration

Q: When MyWFG is down, is there any way of accessing any of the new platform? (~Gwen)

A: We are working internally to ensure that the outage on MyWFG does not occur and solidify the platform

Q: Are there any securities business sections that will still have to go through Firelight/paperwork/Docupace etc other than VUL? (~Gwen)

A: Everything can be done through the Fidelity ecosystem

Q: How is the transfer of our clients to the new platform taking place?

A: At this time we are focused on the new business and after that has been accomplished we will focus on transferring the books and records held in Docupace

Q: Do we know when we will be locked out of our eMoney accounts for the migration? That caused us some heartache around the office when the first group went live. (~G)

A: Please see eMoney communication. They have assured us that this migration will be seamless

Q: What‘s the most accurate way to describe this new relationship with Fidelity to clients? AKA Can we say that we clear through Fidelity? (~G)

A: Yes we clear through National Financail Services aka Fidelity

Q: How will rep changes work? (IE adding a split rep to an existing investment account) (~Gwen)

A: This will be covered in the detailed training that will start next week

Q: Can you go over the difference of the eMoney TFA and keeing the current subscription?

A: This will be covered in the eMoney training session (This Training Session Happened AFTER We Had to Pay to Upgrade to Keep Our Advanced Plans)

Q: What will happen with Betterment? Folio?

A: At this time no change

A: Please see eMoney communication. They have assured us that this migration will be seamless

Q: Will we be able to continue to do business on Pershing until the rest of our reps join the program?

Q: are my links with existing clients going to break and have to redo?

A: Existing links to whcih platform

Q: Will we have access to ETFs

A: Yes for S7

Q: Cheers to our hero Seth - any guidance on an announcement for our new president?

Q: Can we get access to the training today?

Q: We were told that in migration of current eMoney clients that we would loose client linked account connections. Has this been fixed/addressed so we don’t have to have clients re-connect their accounts?

A: This issue has been fixed (This issue was NOT fixed and ALL our clients Lost their connections)

Q: Who will handle service issues going forward? TFA Brokerage Services? (~G)

Q: Will this work with DSTvision

A: It should