Hub24

Overview

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A new feed from HUB24 has been added which will allow you to automatically import cash, investment and income data on a daily basis.

Important

Please note your Hub24 credentials are valid for one year and will need to be manually updated in Simple Fund 360 to ensure that your feeds remain active. To obtain a new set of credentials, please email [e-mail]

Authority Process Setup in Simple Fund 360 Re-Request Distribution Transactions and Tax Components FAQs 

Please email [e-mail] asking for a data feed for BGL Simple Fund 360. HUB24 will send you an authorisation form to fill out, sign and return to HUB24.

The Administrator field generally refers to the adviser for the fund. If you have no such adviser, you may enter your firm name for the Administrator field.

Once they have confirmed the feeds are enabled on their end, they will provide the adviser credentials to input into Simple Fund 360. 

For clients who are a Hub24 adviser, you will need to complete the following to obtain adviser credentials from Hub24.  

1. Go to Settings > Adviser > Setup EPI Login
2. Select Show EPI Password

These details will need to be added in Simple Fund 360 to allow the data feeds to operate. For instructions on completing this, please refer to the below: 

1. From the Feed Management Screen, select Advanced Options and Reports.

2. Select Provider Settings > Add New

3. Please input the credentials provided by Hub24 and select Save below

Important: Please note your Hub24 credentials are valid for one year and will need to be manually updated in Simple Fund 360 to ensure that your feeds remain active. To obtain a new set of credentials, please email [e-mail]

From the Main Toolbar, go to Connect.
Select Feed Management from the list.
Select the Wraps and Platforms Global tab.

For security reasons and to ensure that the fund conversions are being processed correctly, please add the basic fund shell to Simple Fund 360 - This can be completed through the Entity Setup screen in Simple Fund 360.

1. From the Wrap and Platform Global tab, select (+) Setup.


2. The Setup Wrap and Platform Feed screen will appear. Begin typing the fund name into the field and select it from the drop-down list below.

3. Select Hub24 as the Feed Provider.

4. Input the External Reference/Account ID.

Input your 8 digit HUB24 Account ID
Example:

Note: If data has been entered manually for this feed prior to its activation, input a Do not import data before date in the relevant field to the last date of manual data entry. 

5. Select the Bank Account for the fund the authority is being granted for (authority will need to be granted for each bank account).


If there is no bank account linked to Hub24. A Dummy Account can be entered into SF 360 for the wrap to be set up - as this is a dummy account, no actual bank accounts will be involved, and no transactions should be pulled through and the account should remain null. 

Note: Selecting Advanced Options will display a drop down of any bank or other non-unitised investments appearing in the Security Code chart. This chart will contain the relevant mapping codes used by the feed to load data to the correct account. These fields will be empty until the feed is operating.

Potential Duplicate Accounts

If you do not set this up, the feed will automatically create new accounts and you might end up with duplicate accounts.

6. Import Distribution Components. Select to have the distribution tax components imported into Simple Fund 360. Users can turn this function off to allow flexibility to have all distributions imported with zero tax components and for users to enter in the tax figures at year-end

7. Select Save.

Once the feed has been saved, the feed will appear with the status Awaiting Transactions, with the toggle set to On. Do not switch this off.

SF360 will automatically load transactions from the date of activation. Activation can take up to one business day for data to be uploaded into Simple Fund 360. Historical data can be imported via a re-request.

1. From within the Wraps and Platforms Global tab, select the fund(s) to complete the re-request for.
   
   
   
   
2. Select the Re-request transactions button that has appeared at the top of the screen
   
   
3. From the Re-Request Transactions screen, input the dates Do Not Load Before (earliest import date) and Do Not Load After (last import date). Transactions within this date range will be requested and imported.
   
   

Simple Fund 360 automatically updates wrap feed distribution transactions with their respective final tax components when the annual statement is made available.

For more information, please refer to Distribution transactions and tax components

The account has been setup in Simple Fund 360, however the feed is not operating? 

The feeds may not have been established on Hub24’s end. Please follow up with Hub24 to have the feeds authorised. 

If this has already been confirmed and transactions are still not importing into the fund, please log a support call with the following information:

• Fund Name
• Account Details

How will transactions be coded?

All cash, income, and investment transactions will be allocated to the correct account in Simple Fund 360. For purchases of new investments not previously held by the fund, new accounts will be created and transactions will be automatically allocated.

Which transactions will be matched?

Investment and Income transactions will be automatically matched to their corresponding Cash transactions by Simple Fund 360.

Investment transactions will also match with their corresponding income transactions (for example, Dividend/Distribution Reinvestment Plans).

Any Cash transaction that is not investment related (e.g. an expense) will be automatically matched once a Transaction Matching Rule has been set up.

Which transactions will not be matched?

Transactions such as expenses will not be automatically matched by Simple Fund 360 unless you have Transaction Matching Rules set up. You can match those transactions through the Transaction Matching screen and create Transaction Matching Rules if applicable.