Feature Update: Investment Client Net Growth Calculation On MyEmpire

Submitted by Victoria on July 15, 2021 - 2:36pm

We recently launched a new feature on My Empire allowing your clients to view their investments’ net growth and transaction details* online.

Based on feedback received from clients and advisors about this new feature, we have modified the way we are displaying this feature to be more consistent with industry best practices. Effective July 14^th, this feature will now utilize a simplified approach for displaying the Net Growth calculation – showing only the deposit and withdrawal amounts that clients have made. The details shown in this new net growth calculation will be different than what clients may have previously viewed, as they included fund switches in and out as deposits and withdrawals. Switches will still be shown in clients’ transaction history but not in their net growth calculation.

An email communication will be sent to your clients informing them of this change. You can view it here.

A few points to note:

Deposits, withdrawals and net growth will be different from what you currently see on the Business Centre, where fees and switches are included in the Account Net Investment (net growth) calculation.
Deposits and withdrawals as shown on your clients’ semi-annual statements will continue to include switches in and out, and fees.
The amounts shown on the Business Centre and on your clients’ statements are displayed differently as the statements show activity for the last 6 month period. The Business Center shows amounts since account inception.

To view their updated investment net growth and transaction history, clients will need to simply log-in to their MyEmpire account, select their policy and click on “Net growth & transactions”.

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