v28 is here!

This coming weekend, Fundserv will be implementing v28 of the Fundserv Standards. This is our annual release of new functionality for the Canadian investment funds industry, and we’re expecting that it’s going to go off without a hitch (fingers crossed!).

Yeah, so what’s in it for me?

Glad you asked! v28 has a number of exciting enhancements that can help take time, cost, and risk out of your day-to-day business. For example:

  • Enhanced error corrections support – a single point of entry for all trade corrections, along with automatic settlement of the related money. For distributors, this means no more trying to remember when you can use your order entry system or the Fundserv web screens versus when you have to send a fax. One process = simpler workflow
  • EFT settlement of wire-order purchases – it’s now mandatory for manufacturers to accept EFT instructions on Client Name accounts at time of purchase. That means fewer cheques, which makes everything quicker and easier for everyone, including your clients
  • New fund link identifier – a unique ID tagged to all classes, series’, and purchase options of a given fund. This can help distributors simplify the logic in their order entry systems and build ways to help advisors make sure they’re using the right fund code for the right client
  • Support for manufacturer fee-based plans – whether as part of account set up or via a non-financial update message, distributors can now automatically set up or change the fees associated with fee-based plans that are administered by manufacturers. One more business process where you won’t need to send or receive a fax that needs to be processed manually anymore

These are only a few of the highlights of what’s included in v28. There’s so much more.

Sounds good – so, what now?

  • If you haven’t already, we encourage you to talk to your service providers about how you can take advantage of the v28 enhancements
  • If you’re the self-serve type, you can find the complete details about v28 in the Business Requirements Document. You can also find more specific info about the changes to web services in our updated Fundserv Web Services User Guide
  • If you have questions or want some help getting a better understanding, we’re here for you!
    • Connect with our Training department at training@fundserv.com to arrange a webinar on the new functionality or to talk about ways you can put the Fundserv web services to work in your existing processes
    • Reach out to our Technical Support team at (416) 362-7378, (800) 267-3526, or tech@fundserv.com to get one-off answers to specific questions

Beyond keeping the industry connected every day, these version releases are the biggest thing we do at Fundserv each year. It’s a huge amount of work, both for us and for our members and their service providers, and we’re thrilled to see the end results of all that work once again. We’d like to take this opportunity to thank you – thank you for all the time and effort you’ve put into building and testing to make sure that v28 will be a success, and thank you for your continued trust and support.