Anam Mazhar
Product Manager
December 7, 2020

Within the PAS Platform, funding is responsible for the product and client experience associated with accepting, processing, and transferring money. We work closely with our custodial partners to integrate our platform and make funding and payments, internally and externally, as seamless as possible.

This includes:

  1. Withdrawals and deposits
  2. External transfers
  3. Internal transfers (currently completed via email to our team)
  4. Third-party payments (currently completed via email to our team)

3 ways we are going to add value to your business

Tracking and visibility of all funding requests from initiation to completion
We want to provide advisors a deeper understanding of all funding requests and the status of that request once initiated. This will help advisors set expectations with their clients and focus on managing the relationship rather than managing requests.

More insights into client accounts to make informed decisions
Advisors will be empowered with more data to make better decisions regarding their client's money. We want to provide advisors a deeper understanding of the impact of different funding requests — specifically around the client's holdings, tax implications, and overall financial plan.

A guided experience for the advisor
We want to provide a guided experience for the advisor where they are given the right information at the right time and can take action when it matters.

How do we know we’re doing well?

Success means your clients' funding requests are successful 100% of the time within the defined SLAs.
Success means you are empowered to independently manage and track 100% of funding requests on the platform.
Success means you have deeper insights into your clients' funding requests so you can be more proactive with your clients.

We want to share a high-level preview of what to expect over the next couple of months. Stay tuned for more updates and release notes as we work hard on adding the fun in funding for you!

Funding roadmap (in development)

This section covers priorities that are currently in development and are not likely to change or be de-prioritized. The estimated timeframe for the below items is 3-6 months.

We are building different views to support the various pending funding requests that advisors can access and action

  • Surface detailed steps to the advisor throughout the set up of funding requests
  • Issuing notifications for issues or delays in processing funding requests and what actions can be taken to move them along
  • Updated design and language to help the advisor at each step along the way

Provide advisors with a consolidated view of client transactions, so they are more in tune with their clients' financial situation

  • Consolidated view of the payment requests successfully set up on client accounts
  • Transactional view into the client accounts of completed and upcoming transactions

Launch the ability to manage existing funding requests within the platform

  • Enable canceling an existing withdrawal or deposit
  • Enable modifying amount and frequency on an existing recurring payment

Funding roadmap (future)

This section covers items that are subject to change but reflect our current prioritization within funding. The estimated timeframe for the below items is 6-12 months and beyond.

Improved user experience for existing functionalities

  • We will be user testing new UX and UI for the PAS platform with our advisors
  • This includes withdrawals, deposits, and external transfers

New features to support additional funding requests, and to automate where possible

  • This could include internal transfers, third-party payments, RESP withdrawals, and other manual requests. We will always automate when possible if the technology exists with our partners.

Seamless integration with bank accounts and investment accounts within the platform

  • We are exploring options to allow for immediate bank account verification
  • This would also include empowering the investor to manage bank account integrations and initiate funding requests independently

More information and insights for advisors into their business to help them grow and manage their clients money more efficiently

  • This could include prompts for clients turning 71, or clients who are not making the most of their RESP or RRSP contributions.

Sharing our experience vision

Fair warning: these are broad-strokes. Consider these prototypes a creative sample of the initial investor experience we are envisioning.

An advisor or investor selects the type of transaction
An advisor or investor simply inputs the amount

Have any feedback for us? We’d be happy to hear it. Send us a note.