AdvicePay Now Available – Collect Financial Planning Fees Via Credit Card!

December 7, 2021

Writing a physical check has become obsolete for most business. Why not make it obsolete for yours? ESI is proud to announce the addition of AdvicePay to our Platform. With AdvicePay you can collect your financial planning fees via credit card at a time that is convenient for your clients. There’s no need to remind clients to bring their checkbook to your next meeting or follow up with them asking to mail you a check.

You can quickly create an invoice for your planning fee that is sent via email to your client. Your clients simply click on the “View Invoice & Pay” button to enter their credit card info and in less than two minutes you have collected your planning fee.

Using AdvicePay’s intuitive dashboard you’ll be able to keep track of outstanding invoices, see what invoices are coming due soon and which ones are past due to help you manage your business.

All planning fees are sent directly to ESI where we will process the payment and match it up with the planning agreement. AdvicePay is an optional service that you can choose to add to your platform at a cost of $50 a month for the software license and a 3.5% credit card processing fee that will be taken directly from each payment.

To see if AdvicePay is the right fit for your business please join Rich Whalen from ESI and Cassie Jackson from AdvicePay for a demo of this exciting new addition to the ESI Technology Platform on Thursday December 16^th at 4pm EST. Click here to register!

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New Wealthscape Investor Account Linking Authorization Form

December 7, 2021

ESI has created a new form to allow clients to household their accounts online to be able to view 3^rd party accounts under one log in through the Wealthscape Investor portal.

Requests to link accounts for viewing have steadily increased as more of our clients are accessing account information and documentation electronically. When accounts are linked under a single ID (and eDelivery enrollment is in place avoiding the $5.00 quarterly charge) a customer can view 10 years of statements, confirms, and tax documents for their household in one convenient location.

The Wealthscape Investor Account Linking Authorization form is easy to complete and can be found in the Docupace Forms Library. After inputting the desired user ID, information can be linked by individual account number, or by all accounts under a specific SSN/TIN. All account owners must sign the form.

IMPORTANT TO NOTE: Upon linking the accounts, any trading ability will be removed until a Limited or Full Trading Authorization is added for the 3^rd party accounts.

Questions? Give our brokerage team a ring! 1-800-344-7437.

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Resources for Measuring Account Performance

December 7, 2021

Over the past few weeks, we’ve introduced new resources to help advisors who manage accounts in either of ESI Illuminations advisor-as-portfolio manager (APM) programs. This week’s new resource focuses on calculating performance.

There are several means of calculating performance, each from a particular perspective. As such, when looking at performance numbers, you should understand the method of calculation used and what it reflects. For example, the ESI Illuminations platform allows you to easily track your accounts’ performance. But, in doing so, it’s important to know the ESI Illuminations platform reports performance using time-weighted rate of return as a measure of performance. For more information, view our new flyer, Measures of Performance (cat# 106144).

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Touchstone Income Strategy Allocation Changes

December 7, 2021

From Touchstone Investments:
Modest changes were made to the Touchstone Income Strategy through the addition of two mutual fund investments. These funds should enhance the Income Strategy’s potential to generate additional income and capital appreciation while maintaining a focus on downside protection through increased diversification. Both investments employ established strategies with compelling long-term track records supported by deeply experienced teams. Highlights of both strategies are below. For more information on the Touchstone Income Strategy, view the updated marketing and training materials on the ESI Illuminations platform.

Touchstone Dividend Equity Fund seeks current income and capital appreciation by investing in equity securities of U.S. large-cap companies that have historically paid dividends. The Sub-Advisor believes the unique approach results in a portfolio of high quality companies with sustainable competitive advantages that should pay reliable, growing dividends at reasonable valuations.
Touchstone Strategic Income Opportunities Fund seeks a high level of current income with a focus on capital preservation by investing in income producing fixed income securities. The Fund’s sub-advisor employs a high conviction, yield-oriented investment approach with a relatively focused number of issuers, coupled with sector diversification and diligent risk management.

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Important Deadlines and Dates to Remember

December 7, 2021

Licensing Deadlines

December 17, 2021: ESI Deadline to get any registration, amendment, or termination request in to allow for ample year and processing as FINRA shuts down December 24^th (re-opening January 3^rd).

December 31, 2021: Annual Compliance Meeting requirement do for all registered reps.

Operations Deadlines

December 10, 2021
Systematic Withdrawals from Retirement Accounts scheduled for payment between December 15th and December 31st will be “pulled forward” in the December 10th nightly cycle. Trades at the client’s instruction should be placed, if necessary, to satisfy the distribution. Partial distributions will be made on December 31^stif cash is available in the account. This deadline will allow for corrective actions on incorrect banking or address information.

December 14, 2021
Alternative Investments 2021 Annual Custody & Valuation Fees – $35 per registered position, $125 per unregistered position, ($500 maximum Fee) are applied to accounts with eligible positions. If insufficient funds exist in the core fund, an unsecured fee posting will be placed in the account for the outstanding balance of the fee. Fee postings which are not resolved by February 1, 2022 will be reversed and charged to the Registered Representative’s commissions.

December 15, 2021
Roth IRA Conversions – It is strongly recommended forms be received, in good order, by December 15^th. After this date, conversions will be made on a best efforts basis. Under no circumstances can a request be backdated.

Required Minimum Distributions
It is strongly recommended requests be received, in good order, no later than December 15^th to ensure proper processing. This will allow time for corrections to incorrect banking and/or address information.

December 28, 2021: Systems Deadline for New 2021 Periodic Distributions Plans – must be established and approved in ICP by December 28, 2021 in time to pay in 2021. Beginning December 29, 2021, Fidelity Clearing & Custody will establish periodic distribution plans for 2022 only.

December 30^th and 31^st, 2021: IRA Distributions
December 31st, 2021 is the last day an EFT can be sent out of an IRA account as a 2021 distribution, if same day settlement is available.

If same day settlement is not available, EFT distributions must be processed and approved on December 30^th in order to be reported in the 2021 tax year.

Distributions processed on December 31^st as a check, will be reported in the 2021 tax year.

December 31, 2021
Fidelity Clearing & Custody Fee Processing and Balance Reminders – In order for a client to avoid the $35 non-qualified account custody fee, they must have one commissionable transaction settle in 2021 or have a $10,000 balance in the core money market fund on December 31, 2021.

Last trade date for 2021 regular way settlement is December 29, 2021.

December 31, 2021 & January 3, 2022
Fidelity Clearing & Custody – “Inactivity” Fee Assessed & Charged – Client accounts are assessed for eligibility/waiver of Custody Fee on December 31, 2021 and, if eligible, are charged the fee on January 3rd, 2022.

January 5-31, 2022
Securities Liquidations to cover Unpaid Fee Postings – ESI home office will begin the process of liquidating securities to cover unpaid fee postings related to the NFS IRA Custody Fee and non-qualified “Inactivity Fee”. Accounts with eligible securities will have trades placed to cover “debit” balances related to fee postings, as well as applicable transaction charges. Customer confirmations will be marked “To Cover Debit”. Representative’s will be charged the $25.00 service fee if ESI home office has to place trades

Holiday Phone Hours for ESI Call Center

12/23 – National Life closed, NYSE open until 4 – ESI phones close at 4:00 EST

12/24 – National Life and ESI Closed

1/3 – National life closed, NYSE open until 4 – ESI phones close at 4:00 EST

Questions? We’re always here for your call! 1-800-344-7437

Check out Life and Annuity Important Dates Here!

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