June 2022 - Authorisations User Guide

June 2022 - Authorisations User Guide

Introduction

The purpose of this document is to give a detailed overview of the various processes carried out by the Authorisations team in Zoho CRM.


Authorisations Process

Once the completed application forms and signed declarations have been received by the Recruitment Team, they will notify the Authorisations Team via email that the application is ready to be progressed.


New AR

From the Zoho CRM Home Page, click on ‘Firm Authorisations’ at the top of the page:



To find the relevant Firm Authorisations record, click on the Search icon at the top right of the screen and enter the full Firm Name:


Select the Firm Authorisation record by clicking on the Network Code:

(Note: This Network Code is a temporary code used to link the Firm and the Firm Authorisation record and will need to be updated with the actual Network Code once authorised).

Once the Firm Authorisation record has been selected, the Authorisation Status will be set to ‘Application Complete’ and the first Application Requirement ‘Initial Assessment’ will have been automatically created:


This record is assigned to the Oversight & Insight Manager for their initial approval to proceed.

Clicking on the Application Requirement ID will take the user into the record and they can then either Approve or Reject the Application by using the blue Transition buttons at the top of the page:



On approval, the User will be forced to assign the application to an Authorisations Consultant and add any accompanying notes.

Selecting the ‘Approve’ option will move the Firm Authorisation record to a status of ‘Due Diligence’.

Once approved a new Application Requirement ‘Searches’ will be automatically created.

The Authorisations Consultant will need to click on this Application Requirement ID to record the results of the Searches carried out.

Where there any queries on any of the Searches, the Authorisations Consultant should enter full details in the notes section on completion of the record.

Once the Searches record has been completed, a new Application Requirement ‘Application Approval’ will be automatically created.


At this stage, the Authorisations Consultant should now recommend that the application is either Approved or Rejected and this recommendation will be assigned to the Oversight & Insight Manager.

The Oversight & Insight Manager should now have the option to either approve the application or request further information.

If further information is requested, the Authorisations Consultant should gather the additional information and once complete, re-send for approval using the blue Transition buttons at the top of the page:


Once the Oversight & Insight Manager has confirmed approval, the status of the Firm Authorisation record will be automatically set to ‘Due Diligence Complete’

There will now be 4 new Application Requirements created as follows:


·         BSC Assignment
·         Stationery Approval
·         FCA Submission
·         AR Agreement


BSC Assignment

This record will be assigned to a Senior Business Support Consultant, who should complete the record, confirming who the Business Support Consultant will be for the Firm.


Stationery Approval

The Authorisations Consultant should complete this Application Requirement to confirm that the stationery has been approved within Zoho Desk. On completion of the record, it is mandatory to enter the URL for the appropriate Desk ticket.


FCA Submission

Once ready to submit, the Authorisations Consultant should select the FCA Submission record and select the Submit to FCA blue Transition button.



It is mandatory to enter the Application Reference supplied by the FCA on confirming the submission.

The status of the Firm Authorisation record will now be set to ‘Submitted to FCA’

Once a response is received from the FCA, the Application Requirement can be updated by selecting the relevant blue Transition button:



Once authorised by the FCA, on selecting the ‘Authorised by FCA’ button, the Firm Authorisation status will be updated accordingly.


AR Agreement

The remaining Application Requirement to be completed before finalising the Authorisation is to issue the AR Agreement.

Once completed, the Application Requirement should be set to Complete, using the blue Transition button.

Once all of the above Application Requirements have been completed, a final Application Requirement ‘Finalise Authorisation’ will be automatically generated.
(Note: the completed Application Requirements are stamped on the Firm Authorisation record as per screen shot below)




When ready to finalise the Authorisation, click on the Application Requirement ‘Finalise Authorisation’ and select the ‘Authorise’ Transition button.

At this point it will be mandatory to enter the FRN, Firm Authorisation Date, Agreed Notice Period and the Firm Network Code.

Clicking on the ‘Authorise’ Transition button will:

  1.         Set the Firm Authorisation record to ‘Authorised’
  2.        Set the Firm record to ‘Authorised’ and the Status Type to ‘Active’
  3.      Send out Notification of the Firm Authorisation to all agreed parties.


   New RI

From the Zoho CRM Home Page, click on ‘Individual Authorisations’ at the top of the page:



To find the relevant Individual Authorisations record, click on the Search icon at the top right of the screen and enter the full Individual’s Name. Select the Individual Authorisation record by clicking on the Network Code.

 (Note: This Network Code is a temporary code used to link the Individual and the Individual Authorisation record and will need to be updated with the actual Network Code once authorised).


Once the Individual Authorisation record has been selected, the Authorisation Status will be set to ‘Application Complete’ and the first Application Requirement ‘Initial Assessment’ will have been automatically created:


This record is assigned to the Oversight & Insight Manager for their initial approval to proceed.

Clicking on the Application Requirement ID will take the user into the record and they can then either Approve or Reject the Application by using the blue Transition buttons at the top of the page:




On approval, the User will be forced to assign the application to an Authorisations Consultant and add any accompanying notes.

Selecting the ‘Approve’ option will move the Individual Authorisation record to a status of ‘Due Diligence’.

Once approved 4 new Application Requirements will be automatically created as follows:

  1.     Searches
  2.     Assessment of Finances
  3.       Initial Letter
  4.     Experian Affordability Passport

In addition to these 4 Application Requirements, a ‘Reference’ record will need to be manually created for each Reference being requested.


These records will then need to be progressed as detailed below.

References

From the Individual Authorisation record, click on the + alongside ‘References’ to add a new Reference record:


Note: There needs to be at least one Employer and one 3rd Party Reference created/completed in order to proceed with the application process

Each reference will be created with a status of ‘New’ and the Authorisations Consultant will need to transition them through to completion in order to proceed.




On completion of the reference record it is mandatory to confirm that the various dates etc match up with those given.


Searches

The Authorisations Consultant will need to click on the Application Requirement ID to record the results of the Searches carried out.

Where there any queries on any of the Searches, the Authorisations Consultant should enter full details in the notes section on completion of the record.

Assessment of Finances

Once the Assessment of Finances has been completed, clicking on the ‘Complete’ Transition button will mandate the completion of the ‘Credit Report’ and ‘Asset and Liability’ fields.

Where there are any outstanding queries, these should be added into the notes section.

Experian Affordability Passport

The Authorisations Consultant should click on the ‘Experian Link Sent’ Transition Button in order to confirm the status of this Application Requirement:


There are then 2 options: either the Applicant has completed the Affordability or they are unable to do so. Where they are unable to do so, the Authorisations Consultant should select the relevant Transition button:



Once complete, the Authorisations Consultant should click on the ‘Complete’ button, where they will be forced to enter Notes and confirmation as to whether there were any issues.

Initial Letter

The Authorisations Consultant can now issue the initial letter to the Adviser, confirming any outstanding requirements.

Clicking on the ‘Letter Content Complete’ Transition button will allow the user to enter the letter content and issue the letter using the mail merge function.

Once all 4 Application Requirements and relevant References have been completed, a further Application Requirement ‘Application Approval’ will be automatically created.

At this stage, the Authorisations Consultant should now recommend that the application is either Approved or Rejected and this recommendation will be assigned to the Oversight & Insight Manager.

The Oversight & Insight Manager should now have the option to either approve the application or request further information.

If further information is requested, the Authorisations Consultant should gather the additional information and once complete, re-send for approval using the blue Transition buttons at the top of the page:




Once the Oversight & Insight Manager has confirmed approval, the status of the Firm Authorisation record will be automatically set to ‘Due Diligence Complete’

 

There will now be new Application Requirements created as follows:

  1.        BSC Assignment
  2.       Stationery Approval
  3.     FCA Submission (if the Adviser has requested Investment permissions)   
  4.     Induction Training

BSC Assignment

This record will be assigned to a Senior Business Support Consultant, who should complete the record, confirming who the Business Support Consultant will be for the Individual.

Stationery Approval

The Authorisations Consultant should complete this Application Requirement to confirm that the stationery has been approved within Zoho Desk. On completion of the record, it is mandatory to enter the URL for the appropriate Desk ticket.

FCA Submission

Once ready to submit, the Authorisations Consultant should select the FCA Submission record and select the Submit to FCA blue Transition button.


It is mandatory to enter the Application Reference supplied by the FCA on confirming the submission.

The status of the Individual Authorisation record will now be set to ‘Submitted to FCA’

Once a response is received from the FCA, the Application Requirement can be updated by selecting the relevant blue Transition button:

Once authorised by the FCA, on selecting the ‘Authorised by FCA’ button, the Individual Authorisation status will be updated accordingly.


Induction Training

The Induction Training Application Requirement will need to be completed to confirm the outcome of the course and the date completed.

Once all of the above Application Requirements have been completed, a final Application Requirement ‘Finalise Authorisation’ will be automatically generated.
(Note: the completed Application Requirements are stamped on the Individual Authorisation record as per screen shot below)



When ready to finalise the Authorisation, click on the Application Requirement ‘Finalise Authorisation’ and select the ‘Authorise’ Transition button.

At this point it will be mandatory to enter the IRN (if available) and the Adviser’s Network Code.

Clicking on the ‘Authorise’ Transition button will:
  1. Set the Individual Authorisation record to ‘Authorised’
  2. Set the Contact record to ‘Authorised’ and the Status Type to ‘Active’
  3. Send out Notification of the Individual Authorisation to all agreed parties.

Status Changes

AR Suspension

When there has been reason to suspend an AR, there should be a recommendation to suspend created from an Intervention record.



This recommendation needs to be approved by the Head of Business Support and once approved, the following updates will automatically take place:

• Status on Firm Authorisation record updated to ‘Suspended’
• Status on Firm record updated to ‘Suspended’
• Status on Individual Contact(s) records updated to ‘Suspended’
• Status on Individual Authorisation(s) records updated to ‘Suspended’
• Internal notification sent to all relevant parties.


RI Suspension

The process is exactly the same as above, with the Intervention/Recommendation being recorded against the Individual. On approval, the following updates will automatically take place:

• Status on Individual Contact record updated to ‘Suspended’
• Status on Individual Authorisation record updated to ‘Suspended’
• Internal notification sent to all relevant parties.

Lifting Suspensions

AR

In order to lift an AR Suspension, a recommendation to lift suspension should be recorded against the original Intervention:

This recommendation needs to be approved by the Head of Business Support and once approved, the following updates will automatically take place:

• Status on Firm Authorisation record updated to ‘Authorised’
• Status on Firm record updated to ‘Authorised’
• Status on Individual Contact(s) records updated to ‘Authorised’
• Status on Individual Authorisation(s) records updated to ‘Authorised’
• Internal notification sent to all relevant parties.

RI

The process is exactly the same as above, with the Recommendation being created against the original Intervention.

On approval, the following updates will automatically take place:

• Status on Individual Contact record updated to ‘Authorised’
• Status on Individual Authorisation record updated to ‘Authorised’
• Internal notification sent to all relevant parties.


AR Resignation

When an AR Resignation is received, the Authorisations Consultant should start the exit process as follows:

Select the Firm Authorisation record and click on the ‘Resignation Received’ Transition button



It is mandatory at this point to enter the Date of Notice given together with accompanying notes and to upload a copy of the resignation request.

The status of the Firm Authorisation will automatically be updated to ‘Notice Given’


On updating to this status, the first Exit Requirement ‘Resignation Approval’ will be automatically created.


This record is assigned to the Oversight & Insight Manager for their initial approval to proceed with the exit process.

Clicking on the Exit Requirement ID will take the user into the record and they can then either Accept or Decline the request by using the blue Transition buttons at the top of the page:



On accepting the request, the following mandatory fields will need to be completed:

  1. Accompanying Notes
  2. Firm’s Agreed Notice Period (this is auto-populated from the Authorisation record, however this can be amended if required
  3. Expected Exit Date
  4. Reason for Leaving
  5. Assign to Consultant (this will assign all exit requirements to the selected Authorisations Consultant


Selecting the ‘Accept Request’ option will automatically make the following updates:

  1.      Status on Firm Authorisation record updated to ‘Leaving’
  2.         Status on Firm record updated to ‘Leaving’
  3.         Status on Individual Contact(s) records updated to ‘Leaving’
  4.      Status on Individual Authorisation(s) records updated to ‘Firm Leaving’
  5.         Internal notification sent to all relevant parties


The following Exit Requirements will now be automatically created:

  1.      Resignation Acknowledgment
  2.      Request Files
  3.      Exit Fee Information
  4.      Client File Attestation

·

Resignation Acknowledgement

The Authorisations Consultant should complete this record to confirm that acknowledgment of the resignation has been sent to the Firm Principal

Request Files

The Authorisations Consultant should complete the ‘Client List Generated’ Transition and confirm the date that this was carried out.

The next step is to request the Files from the Firm Principal and to confirm this using the Transition button:


Once Files have been returned, the record can be moved on by clicking on the ‘Files Returned’ Transition

It is mandatory to enter the type of files received and to add any accompanying notes.


Exit Fee Information

The Exit Fee Information should be provided by the Finance Team. Once the Authorisations Consultant has requested this, they should click on the ‘Request Information’ Transition to move the record on.


Once Finance have supplied the relevant information, the record should be moved onto ‘Request Returned’ using the Transition button. It will be mandatory to attach a copy of the confirmation.

The final step is to complete the record and add any accompanying notes.


Client File Attestation

Once the information has been requested from the Firm Principal, the Authorisations Consultant should move the record to the ‘requested’ status using the Transition button.

Once the information has been received back from the Principal, the status of the record should be moved on by clicking the ‘Returned by Firm’ Transition. At this stage it will be mandatory to confirm the attestation and upload supporting evidence. Accompanying notes should also be added.

As each exit Requirement is completed, this is stamped to the Firm Authorisation record so that a user has full visibility of what is completed/still outstanding before the Firm can be released.


One month before the exit date, the final Exit Requirements will be automatically created:

  1.       AST Sign Off
  2.      Complaints Sign Off
  3.      Settle Account Balance

Each of these Exit Requirements will now need to be completed in order for the Firm’s release to be finalised.

AST Sign Off

Once the Authorisations Consultant has received confirmation from AST, the AST Sign Off Exit Requirement should be updated accordingly:



Complaints Sign Off

Once the Authorisations Consultant has received confirmation from Complaints, the Complaints Sign Off Exit Requirement should be updated accordingly:



Settle Account Balance

The Authorisations Consultant will need to click on the ‘Start’ Transition in order to move this Exit Requirement to ‘In Progress’

This will automatically create a Desk Ticket for Payment Services who, on closure of the ticket, will need to enter the Debt Amount. This will then automatically create a task for the Authorisations Consultant.

Once confirmation has been received that the account balance has been settled, the Exit Requirement should be completed by the Authorisations Consultant.

Once all of the above Requirements have been met, the final Exit Requirement ‘Finalise Release’ will be automatically created.


Finalise Release

Once the Authorisations Consultant is happy that all requirements have been met and that the Firm can now be released, they should select the ‘Release Complete’ Transition on this Exit Requirement.

The following updates will automatically take place:

  1. Status on Firm Authorisation record updated to ‘Released’
  2. Status on Firm record updated to ‘Released’
  3. Status Type on Firm record update to ‘Inactive’
  4. Status on Individual Contact(s) records updated to ‘Released’
  5. Status Type on Individual Contact(s) records updated to ‘Inactive’
  6. Status on Individual Authorisation(s) records updated to ‘Released’
  7. Status Reason on Individual Authorisation(s) records updated to ‘Firm Released’
  8. All linked Licences updated to ‘Removed’
  9. Internal notification sent to all relevant parties.

The Notes section at the bottom of the ‘Finalise Release’ Exit Requirement details all of the above updates and will highlight any failures in the Automation.  Should there be any failures these will need to be dealt with manually by exception.




RI Resignation

There are 2 ways in which an RI can be released:

  1.      Immediate Release
  2.      RI Leaving Firm

Immediate Release

This option should only be used where a Principal advises us that an Individual has already left their Firm, or the Adviser is deceased.

From the Individual Authorisation record, the Authorisations Consultant will need to click on the ‘Immediately Release RI’ Transition:


On selecting this Transition it will be mandatory to enter the Status Reason together with accompanying notes.

The following updates will automatically take place:

  1.     Status on Individual Authorisation record updated to ‘Released’
  2.       Status on Individual Contact record updated to ‘Released’
  3.     Status Type on Individual Contact(s) records updated to ‘Inactive’
  4.        Licences updated to ‘Removed’

There will be 2 new Exit Requirements automatically generated which will need to be completed to finalise the Release:

  1. AST Sign-Off
  2. Principal Confirmation

AST Sign Off

AST will need to confirm that there are no outstanding items and the record will need to be completed by the Authorisations Consultant.

Principal Confirmation

The Authorisations Consultant should complete this record to confirm that confirmation of the RI Release has been sent to the Firm Principal.

On completion of this record it will be mandatory to confirm the following:

  1.      Release Date
  2.      Client Files Returned
  3.      Stationery returned/Destroyed
  4.      Directorship Removed

   RI Leaving Firm

From the Individual Authorisation record, the Authorisations Consultant will need to click on the ‘RI Leaving Firm’ Transition:


On selecting this Transition it will be mandatory to enter the reason for leaving together with accompanying notes. A copy of the resignation letter should be uploaded at this point.

The Following Exit Requirements will now be automatically created:

  1. AST Sign Off
  2. Principal Confirmation

These requirements should be completed as per the process detailed above under ‘Immediately Release RI’

Once Complete, a new Exit Requirement ‘Finalise Release’ will be automatically created.


Finalise Release

Once the Authorisations Consultant is happy that all requirements have been met and that the Individual can now be released, they should select the ‘Release Complete’ Transition on this Exit Requirement.

The following updates will automatically take place:

  1. Status on Individual Contact(s) records updated to ‘Released
  2. Status Type on Individual Contact(s) records updated to ‘Inactive’
  3. Status on Individual Authorisation(s) records updated to ‘Released’
  4. All Licences updated to ‘Removed’
  5. Internal notification sent to all relevant parties.

AR Resignation Rescinded

If an AR rescinds their resignation, the Authorisation Consultant will need to create a new Exit Requirement ‘Resignation Rescinded’.

Once created, the record will be automatically assigned to the Oversight & Insight Manager for their approval.

Once approved, the status of the Firm, Firm Authorisation and any linked contact records will all be automatically updated back to their previous status.


RI Resignation Rescinded

If an RI rescinds their resignation, the Authorisation Consultant will need to create a new Exit Requirement ‘Resignation Rescinded’.

Once created, the record will be automatically assigned to the Oversight & Insight Manager for their approval.

Once approved, the status of the Individual Authorisation and Contact records will be automatically updated back to their previous status.


AR Termination

When there has been reason to terminate an AR, there should be a recommendation to terminate created from an Intervention record.


This recommendation needs to be approved by the Compliance Operations Director and once approved, the following updates will automatically take place:


  1. Status on Firm Authorisation record updated to ‘Terminated’
  1. Status on Firm record updated to ‘Terminated’
  1. Status Type on Firm record update to ‘Inactive’
  1. Status on Individual Contact(s) records updated to ‘Terminated’
  1.  Status Type on Individual Contact(s) records updated to ‘Inactive’
  1. Status on Individual Authorisation(s) records updated to ‘Terminated’
  1. Status Reason on Individual Authorisation(s) records updated to ‘Firm Terminated’
  1. All linked Licences updated to ‘Removed’
  2. Internal notification sent to all relevant parties. 

RI Termination

When there has been reason to terminate an RI, there should be a recommendation to terminate created from an Intervention record.

This recommendation needs to be approved by the Compliance Operations Director and once approved, the following updates will automatically take place:


  1.         Status on Individual Contact(s) records updated to ‘Terminated’

  1.         Status Type on Individual Contact(s) records updated to ‘Inactive’

  2.          Status on Individual Authorisation(s) records updated to ‘Terminated’

  3.       Status Reason on Individual Authorisation(s) records updated to ‘Firm Terminated’

  4.       All Licences updated to ‘Removed’

  5.       Internal notification sent to all relevant parties.

Changes to Contact Details

Email Address

AR

If there is a change to a Firm’s email address, this should be updated on both the Firm Authorisation record and the Firm record.

Changes can be made by accessing the record and clicking on Edit in order to update the email address.

RI

If there is a change to an Individual’s email address, this should be updated on both the Individual Authorisation record and the Contact record.

Changes can be made by accessing the record and clicking on Edit in order to update the email address


Contact Telephone

AR

If there is a change to a Firm’s telephone number, this should be updated on both the Firm Authorisation record and the Firm record.

Firm Authorisation


Firm


RI

If there is a change to an Individual’s telephone number, this should be updated on both the Individual Authorisation record and the Contact record.


Individual Authorisation


Contact


Address

When a Firm or Adviser changes their address, z-crm should be updated as follows:

Select the relevant Firm/Contact record and click on the + alongside ‘Linked Addresses’ Related List:


Select the Linked Record Type and complete all mandatory fields.

If the new address being added is to be the Primary Address, ensure that the ‘Primary Address’ Check box is ticked.


Once the new Address has been added, the status of any previous address should be set to ‘Previous’:

















·        











































    • Related Articles

    • Authorisations - Ticket Management Guidance

      Introduction The purpose of this article is to show the process which Authorisations should follow when receiving Tickets into Zoho Desk, how to manually add tickets, and how Desk works in the background, to enable full understanding of the ...