Financial-Clarity Data File Formats · This document describes the input sales data requirements...

Financial-Clarity Data File Formats

March 2014

Version: 4.0

Matrix Solutions Released by: Customer Services

Financial-Clarity Data File Formats Author: Alexandra Gomolka

Date: March 2014 MDMS-117-410 – Version: 4.0 Page I

Financial-Clarity Data File Formats

Released by: Customer Services Document Number: MDMS-117-410

Author: Alexandra Gomolka Version: 4.0

Issued by:

Matrix Solutions

55 New Oxford Street

London

WC1A 1BS

United Kingdom

UK Registered No. 1934498



Date: March 2014 MDMS-117-410 – Version: 4.0 Page II

Document History and Control

Document Owner: Alexandra Gomolka Email: [email protected]

Department Customer Services Confidentiality Level: External General

Document ID: MDMS-117-410 Date Issued: March 2014

Version: 4.0 Version Status: Published

Description: Describes the input sales data requirements for Financial-Clarity.

Amendment History

Version Date Issued Version Comments

2.0 01/03/2013

Within the Trans Table. 1) Seq 11-13 (Client Info) now made Mandatory. 2) Seq 12 - Now added C and O as types. 3) Seq 13 - Specified that if type is J, then supply details for the Primary account holder. 4) Added in Seq 20 - Client Add 1 Within Product Table 1) Seq 5 - Now changed from dash to N for Mandatory. Within AUM Table. 1) Now added Seq 7-10

2.1 04/03/2013

Added in 2 more product Type - Enhanced Life annuity - Investment-Linked Annuity

3.0 01/06/2013 Republished

4.0 12/03/2014 Republished, new owner information



Date: March 2014 MDMS-117-410 – Version: 4.0 Page III

Table of contents

DOCUMENT HISTORY AND CONTROL ............................................................................. II TABLE OF CONTENTS ...................................................................................................... III DOCUMENT PURPOSE ....................................................................................................... 1 INTENDED AUDIENCE ........................................................................................................ 1 FILE FORMAT ...................................................................................................................... 1 SALES DATA ....................................................................................................................... 1 ASSETS UNDER MANAGEMENT (AUM) DATA ................................................................. 2 TRANSACTION .................................................................................................................... 2 TRANSACTION FILE NOTES .............................................................................................. 5 PRODUCT ............................................................................................................................ 7 PRODUCT FILE NOTES ...................................................................................................... 8 OUTLET ............................................................................................................................... 9 OUTLET FILES NOTES ..................................................................................................... 10 ASSETS UNDER MANAGEMENT (AUM) .......................................................................... 11 AUM FILE NOTES .............................................................................................................. 12 FILE TRANSFER MECHANISM ......................................................................................... 12 PRODUCT TYPES ............................................................................................................. 13 PRODUCT SECTORS ........................................................................................................ 17



Date: March 2014 MDMS-117-410 – Version: 4.0 Page 1 / 18

Document Purpose

This document describes the input sales data requirements for Financial-Clarity. This document should be

read in conjunction with other Financial-Clarity documentation referenced in the text.

Intended Audience

This document is intended for people responsible for creating and maintaining an organisation’s Financial-

Clarity data submission.

File Format

Please note, if you are having trouble providing the data in the format described, contact us to discuss how

Matrix Solutions can help.

Data should be supplied as a set of tab-separated files if at all possible.

If the supplier cannot supply data in tab-separated format, data shall be supplied as a set of comma-

separated value (CSV) files, using straight double quotes (ASCII code 34 – “ – not the 66/99-style speech

marks exemplified “here”) to surround fields which may contain embedded commas.

The first record of all files must consist of a header record containing the defined column names.

Currency fields must be provided in pounds sterling with no currency symbol and no commas.

Date fields must be provided as 8-character numbers, formatted YYYYMMDD.

Sales Data

Please provide sales data at transaction level. Financial-Clarity analyses sales data by:

Outlet – defined by FSA firm reference and address of selling outlet

Product type

Time

Fund (where applicable)

and several hierarchies based on these basic attributes.

You may supply additional analysis data. Analysis code fields are available at all levels of data: Outlets,

Products and Transactions. If you supply analysis codes, you may also provide a decode table for each

codeset to facilitate more meaningful display. Please see the relevant file sections for more details.




Assets Under Management (AUM) Data

Please provide AUM data at a fund level per outlet and per investment vehicle. Where the underlying fund is not known, data can be provided at a product level. Financial-Clarity analyses AUM data by:

Outlet

Product type

Time

Fund (where applicable) and several hierarchies based on these basic attributes.

Transaction

Seq Field Name Mandatory Description

1 ID N Transaction identifier

2 DATE N The date to which the transaction should be attributed. If the exact date is not available, a month and year will also be acceptable.

If no date is provided, the transaction will be assigned a date that is the start of the period covered by the supplied file.

3 TYPE N Type of transaction.

If no value – or an invalid value – is provided, the transaction is assumed to be a new sale.

1 = NEW SALE

2 = REDEMPTION

3 = CANCELLATION

4 = RENEWAL

5 = SWITCH IN

6 = RECURRING

7 = SWITCH OUT

8 = ADJUSTMENT

9 = REINVESTED DIVIDEND

4 ARRANGEMENT_ID N An identifier to link related transactions. All transactions related to a given regular payment arrangement must carry the same arrangement_id. This is typically a policy number or account code.





5 PAYMENT_FREQUENCY N The frequency at which payments are made for the product associated with the sales event.

If no value – or an invalid value – is provided the transaction is assumed to be a single premium.

S = SINGLE

M = MONTHLY

Q = QUARTERLY

A = ANNUALLY

O = OTHER

6 INVESTMENT_VEHICLE N For investment fund sales, the “wrapper” under which the investment is made.

If no value – or an invalid value – is provided the transaction is assumed to be a DIRECT sale. Note that these values correspond to Product Types listed in the Appendix.

127 = DIRECT/INVESTMENT ACCOUNT

126 = ISA

131 = Junior ISA

205 = SIPP

200 = PERSONAL PENSION

202 = STAKEHOLDER PENSION

307 = SSAS

201 = GROUP PERSONAL PENSION

128 = CHILD TRUST FUND

403 = OFFSHORE BOND

107 = INVESTMENT BOND

7 WRAPPER_ID N If you wish to keep closer track of wrap products than is provided by the generic INVESTMENT_VEHICLE (for example if you are a platform selling funds through several different SIPPs), supply the PRODUCT_ID of the wrap product associated with this transaction.

This must correspond to an entry in PRODUCT.

8 PRODUCT_ID Y Identifier of the product or fund associated with the transaction.


9 OUTLET_ID Y Identifier of the outlet executing the transaction.

This must correspond to an entry in OUTLET.





10 VALUE Y Transaction value in sterling (gross of tax where the product is a pension or similar tax-exempt scheme).

For consistency of approach, the signum of this value should reflect the direction of cashflow, thus new sales, switch in, recurring sales should be positive, redemptions, cancellations and switch out negative.

11 CLIENT_POSTCODE Y Postcode of the client.

12 CLIENT_TYPE Y Client gender/type.

M = MALE

F = FEMALE

G = GROUP

J = JOINT

C= CORPORATE

O= OTHERS

13 CLIENT_DOB Y Date of birth of the client. If the Client_Type is J, then provide the details for the primary account holder

14 POLICY_ID N The unique ID of the Policy or account number of the client.

This is required for Group products.

15 ANALYSIS_CODE1 N Financial-Clarity standard product allows clients to provide up to two analysis codes. Use these fields to supply internal analysis codes that can be used for additional segmentation e.g. geographical codes for sales regions, or sales representative identifiers.

16 ANALYSIS_CODE2 N

17 IS_TRANSFER N Used in conjunction with the Transaction Type to determine whether the transaction relates to a formal transfer of assets into the company or a transfer out of the company. E.g. ISA Transfer.

Y = Yes

N = No

18 IS_DFM N Identifies whether the transaction was instigated by a discretionary fund manager.

Y = Yes

N = No

19 DFM N Identifier of the discretionary fund manager behind the transaction.

This must correspond to an entry in OUTLET





20 CLIENT_ ADDRESS1 N Address line 1 of the Client.

I.e. House Number or House Name.

21 CLIENT_ADDRESS 2 N Address line 2 of the Client.

Transaction File Notes

1. Provide all transactions related to the purchase or sale of financial instruments: in order to offer the most comprehensive and appropriate aggregation, classification and summarisation, it is easier if the greatest level of detail is provided in the underlying data. Cash deposits and withdrawals should not be included as it is expected that the transfer of cash relates to other transactions..

2. If a DATE is provided which falls outside the period to which the file as a whole relates, the transaction will be included but it will be reported to the provider separately for confirmation.

3. The INVESTMENT_VEHICLE field is provided to allow platform and direct fund sales to be segmented by the product through which they were sold. It is understood that this information will not necessarily be available to the product provider for sales through an intermediary.

4. The AGREEMENT_ID field does not have to be a real policy number or account code. It is simply a code to link related transactions.

5. Fields 11, 12 and 13 (which are all optional) may be provided by you in order to assist in client profiling activities. These details will only appear in your “Own Sales” view: they will not be aggregated into the “Whole Market” view, thus preserving the privacy of these values.

6. Where the client type is JOINT, provide the postcode of either client.

7. Where the client type is GROUP, provide the postcode of the company.

8. Where the client type is JOINT, provide the DOB as the DOB of either client.

9. Where the client type is GROUP, the DOB should be blank.

10. Combinations of TYPE and PAYMENT_FREQUENCY should use the following rules:

a. Initial sale of regular payment product: TYPE = NEW SALE, PAYMENT_FREQUENCY = MONTHLY, QUARTERLY, ANNUALLY or OTHER.

b. Renewal of regular payment product: TYPE = RENEWAL, PAYMENT_FREQUENCY = MONTHLY, QUARTERLY, ANNUALLY or OTHER

c. Normal repeat payments for regular payment product (excluding RENEWAL): TYPE = RECURRING, PAYMENT_FREQUENCY = MONTHLY, QUARTERLY, ANNUALLY or OTHER

d. lump sum into any product: TYPE = NEW SALE, PAYMENT_FREQUENCY = SINGLE

e. Redemptions: TYPE = REDEMPTION, PAYMENT_FREQUENCY = SINGLE

f. Cancellations: TYPE = CANCELLATION, PAYMENT_FREQUENCY = SINGLE

g. Switching funds from one product to another: TYPE = SWITCH OUT or SWITCH IN. PAYMENT_FREQUENCY will be treated as SINGLE.

11. Adjustments to existing policies:

a. If a change to the regular premium of an existing policy is to be treated as a new sales event (e.g. provision of enhanced cover), set TYPE = ADJUSTMENT, provide the new gross value




of the payment received (the AGREEMENT_ID linking related transactions allows Financial Clarity to report the changed value appropriately).

b. If a change to the regular premium of an existing policy is not to be treated as a new sales event (e.g. annual indexation), simply continue to provide the gross value of the payment received with TYPE = RECURRING.

12. Group Products

a. Provide a POLICY_ID to link all transactions relating to a particular Group product. Note this does not have to be the real policy number; it is simply a code to link related transactions.

b. Provide a transaction for each member of each group product. A joiner’s first transaction relating to a group policy should always be TYPE 1 (NEW SALE). Set subsequent transactions to 6 (RECURRING).

c. Provide a distinct AGREEMENT_ID to link the transactions relating to each member of a group policy.

13. The following circumstances will lead to the transaction being excluded from the complete set of sales data. Excluded transactions will be referred to the supplier of the data for clarification.

a. Where the provided PRODUCT_ID or OUTLET_ID does not match a corresponding record within the PRODUCT or OUTLET table.

b. Where a transaction has VALUE that does not correspond to the transaction type (e.g. New sale with negative value).

14. Fields 15 and 16 (which are optional) may be provided by you in order to assist in profiling activities. These details will only appear in your “Own Sales” view, and will not be aggregated into the “Whole Market” view, thus preserving the privacy of these values. Please provide a decode table for any analysis codes you supply.




Product

Seq Field Name Required Description

1 ID Y Internal product identifier.

The PRODUCT_ID field in the TRANSACTION file must match an ID value in the PRODUCT file.

2 NAME N Your product name.

3 CLASS N The class of product.

1 – INVESTMENT & SAVINGS FUNDS

2 – INDIVIDUAL PENSION

3 – OCCUPATIONAL PENSION

4 – INVESTMENT & SAVINGS PRODUCTS

5 – INDIVIDUAL PROTECTION

6 – GROUP PROTECTION

7 – INCOME

8 – LIFE

4 TYPE Y The type of product.

See Appendix for the full list of product type codes.

5 SECTOR_ID N IMA sector for fund-based products.

Mandatory for fund-based transactions but ignored for Life, Pensions & Protection policies.

See Appendix for a list of identifiers and the sectors to which they apply.

6 SEDOL Y* SEDOL code for the product if applicable. (Only mandatory if ISIN is not complete)

7 ISIN Y* ISIN code for the product if applicable. (Only mandatory if SEDOL is not complete)

8 IS_OFFSHORE N Y – if the product in question is domiciled offshore.

N – product is UK-domiciled

If no value – or an invalid value – is provided the product is assumed to be UK-domiciled.

9 MULTIMGR_TYPE N N – product is not a multi-manager fund

F – product is a fund-of-funds (FoF)

M – product is a manager-of-manager (MoM) fund

If no value – or an invalid value – is provided the product is assumed to not be a multi-manager fund.





10 ANALYSIS_CODE1 N Financial-Clarity standard product allows two extra analysis codes. Use these fields to supply internal analysis codes that can be used for additional segmentation purposes e.g. geographical codes for sales regions, or sales representative identifiers.

11 ANALYSIS_CODE2 N

12 PROVIDER N Primarily applies to platforms selling funds and wrappers that are not their own. Other firms can also use the field to indicate the same.

For fund products this is the fund management group (e.g. Invesco Perpetual, Blackrock).

For wrappers this is the company administering the wrapper (e.g. L&G, AJ Bell)

Product File Notes

1. Records supplied with invalid values for TYPE or SECTOR_ID will be referred back to the supplier of the data for clarification. If any transactions are related to such products, the whole transaction data file load will be delayed until clarification is received.

2. SECTOR_ID, SEDOL, ISIN and MULTIMGR_TYPE are only applicable to investment funds. Leave these fields blank for Life, Pension and Protection products.

3. Fields 10 and 11 (which are optional) may be provided by you in order to assist in profiling activities. These details will only appear in your “Own Sales” view, and will not be aggregated into the “Whole Market” view, thus preserving the privacy of these values. Please provide a decode table for any analysis codes you supply.




Outlet


1 ID Y Your reference code for the outlet.

2 FSA_FIRM_REF Y FSA firm reference.

3 NAME Y The name of the firm.

4 ADDRESS1 Y Address line 1.

5 ADDRESS2 N Address line 2.





10 POSTCODE Y Postcode.

11 NETWORK_FSA_REF N FSA firm reference of the network (if this outlet is an appointed representative).

12 NETWORK _NAME N Name of the network (if this outlet is an appointed representative).

13 BRANCH_NUM N The associated branch number of an outlet.

If you distinguish branches from head offices or view departments or groupings within a given office separately, provide your branch reference here.

14 ANALYSIS_CODE1 N Financial-Clarity standard product allows two extra analysis codes. Use these fields to supply internal analysis codes that can be used for additional segmentation purposes e.g. geographical codes for sales regions, or sales rep identifiers.

15 ANALYSIS_CODE2 N




Outlet Files Notes

1. Financial-Clarity aims to analyse sales by outlet, thus it is important that you provide accurate information in order to ensure that sales are attributed to the correct channel. To that end it is important that – for an appointed representative – fields 2-10 refer to that firm rather than the principal firm. If the full set of AR details is not available from your systems then leave the relevant fields blank and provide the network information in fields 11 and 12 and Matrix will endeavour to ensure that the transaction is attributed to the correct outlet. Typically we have found that some systems are only able to provide the network details and AR name, so in this case we would expect to see fields 2 and 4-10 blank, field 3 holding the AR firm name and fields 11 and 12 holding the network details.

2. For appointed representatives with more than one principal, please supply one record in the outlet file for each principal and use the relevant outlet id on the transaction record.

3. Fields 14 and 15 (which are optional) may be provided by you in order to assist in profiling activities. These details will only appear in your “Own Sales” view, and will not be aggregated Data File Formats Version 1.2 © 2010 Matrix-Data Ltd. Confidential 9 into the “Whole Market” view, thus preserving the privacy of these values. Please provide a decode table for any analysis codes you supply.

4. Matrix owns and maintains its own comprehensive and up-to-date database of financial intermediaries (referred to as MFID). All Outlets supplied to Financial Clarity will be cleaned and then compared to MFID in order to ensure that all Outlets supplied are consistent across each company’s files. Outlets are compared according to their name, address and FSA reference number. Where an unknown Outlet is supplied or where details provided conflict with what is known about the firm (e.g. the name supplied does not match the FSA firm reference), this will be referred back to the supplier of the data for clarification.




Assets Under Management (AUM)


1 DATE N The date of the valuation of the assets under management.

If no date is provided the transaction will be assigned a

date that is the start of the period covered by the supplied

file.

2 OUTLET_ID Y Identifier of the outlet managing the assets.

This must correspond to an entry in OUTLET.

3 PRODUCT_ID Y Identifier of the product or fund associated with the transaction.


4 INVESTMENT_VEHICLE N For investment fund sales, the “wrapper” under which the investment is made.

If no value – or an invalid value – is provided the transaction is assumed to be a DIRECT sale. Note that these values correspond to Product Types listed in the Appendix.

5 WRAPPER_ID N If you wish to keep closer track of wrap products than is provided by the generic INVESTMENT_VEHICLE (for example if you are a platform selling funds through several different SIPPs), supply the PRODUCT_ID of the wrap product associated with this transaction.


6 AUM Y Value of assets in sterling as of the date provided in the field 1.

7 CLIENT_POSTCODE Y Postcode of the client.

8 CLIENT_TYPE Y Client gender/type.

M = MALE

F = FEMALE

G = GROUP

J = JOINT

C= CORPORATE

O= OTHERS

9 CLIENT_DOB Y Date of birth of the client. If the Client_Type is J, then provide the details for the primary account holder

10 CLIENT_ ADDRESS1 N Address line 1 of the Client.

I.e. House Number or House Name.





11 CLIENT_ADDRESS 2 N Address line 2 of the Client.

AUM File Notes

1. The outlet, product and wrapper ID’s should correspond to those provided in the other files so that there is a link between the transactions and the assets. Where they do not, we may be able to create that link through additional matching, but that cannot be guaranteed.

2. Cash holdings should be reported. There is a specific product type (130) for cash holdings. The wrapper under which the cash is held should be noted (e.g. if temporarily in a SIPP prior to the purchase of new assets).

File Transfer Mechanism

Financial-Clarity users have a dedicated secure (https) web page for secure file transfer. Please contact us

for your login credentials. If you prefer, you can use our Secure File Transfer (SFTP) service.




Product Types

Product Class Code Description

Investment Assets 100 Open Ended Investment Company (OEIC)

101 SICAV

102 Unit Trust (UT)

103 Venture Capital Trust (VCT)

104 Investment Trust

105 Real Estate Investment Trust (REIT)

106 Split Capital/Warrant Investment Trusts

115 Enterprise Investment Scheme

116 Hedge Funds

117 Unitised Insurance Fund

118 Exchange Traded Fund

124 Company Share

125 Other

130 Cash

Investment & Savings Products 110 Distribution Bond

126 Stocks & Shares ISA

403 Offshore Investment Bonds

109 Unit Linked Bond

127 Direct/Investment Account

108 With-Profit Bond

119 With-Profit Endowment

120 Unit-Linked Endowment

128 Child Trust Fund

107 Investment Bond




111 Guaranteed Income Bond

112 Guaranteed Growth Bond

113 Guaranteed Investment Bond

114 Trustee Investment Bond

401 Offshore Savings Plans

404 Offshore Personal Bonds

405 Offshore Tranche

129 Structured Products

131 Junior ISA

Occupational Pensions 302 Group AVC

305 Executive Pension Plan

300 Group Money Purchase Pension

306 Group S32 Buyout

307 SSAS

301 Final Salary Pension

303 Bulk Buyout

304 Trustee Investment Plan

Individual Pensions 209 Employer Stakeholder

202 Stakeholder Pension

201 Group Personal Pension

204 Free-standing AVC

207 Pension Transfer

200 Personal Pension

208 Phased Retirement

206 S32 Buyout

205 SIPP




203 DWP Rebate

701 Income Drawdown

400 Offshore Pensions

Life 500 Term Assurance

501 Life Assurance

603 Group Life Assurance

402 Offshore Flexible Whole of Life

Individual Protection 502 Income Protection

503 Mortgage Payment Protection

504 Redundancy Insurance

505 Health Insurance

506 Critical Illness Insurance

507 Keyman Insurance

508 Private Medical Insurance

509 Long Term Care Insurance

406 Offshore Protection

Group Protection 600 Group Income Protection

601 Group Health Insurance

602 Group Critical Illness Insurance

604 Group Private Medical Insurance

Income 123 Life Annuity

700 Pension Annuity

702 Equity Release

132 Enhanced Life annuity




133 Investment-Linked Annuity




Product Sectors

[APP.IMA.CLA]For investment products we use the Investment Management Association (IMA) classification

system and define our sector ids as follows:

ID Sector Class Sector Type Sector

III01 Income Fixed Income UK Gilts

III02 Income Fixed Income UK Index Linked Gilts

III03 Income Fixed Income Sterling High Yield

III05 Income Fixed Income Sterling Corporate Bond

III06 Income Fixed Income Sterling Strategic Bond

III07 Income Equity UK Equity Income & Growth2

III08 Income Fixed Income Global Bonds

III09 Income Mixed Asset UK Equity and Bond Income

IIG01 Income Equity UK Equity Income

IIG02 Income Equity Global Equity Income5

IGC01 Capital Protection Capital Protection Money Market

IGC02 Capital Protection Capital Protection Protected / Guaranteed Funds

IGCO3 Capital Protection Capital Protection Short-term Money Market5

IGG01 Growth Equity UK All Companies

IGG02 Growth Equity UK Smaller Companies

IGG03 Growth Equity Japan

IGG04 Growth Equity Japanese Smaller Companies

IGG05 Growth Equity Asia Pacific Including Japan

IGG06 Growth Equity Asia Pacific Excluding Japan

IGG07 Growth Equity North America

IGG08 Growth Equity North American Smaller Companies

IGG09 Growth Equity Europe Including UK




IGG10 Growth Equity Europe Excluding UK

IGG11 Growth Equity European Smaller Companies

IGG12 Growth Mixed Asset Cautious Managed4

IGG13 Growth Mixed Asset Balanced Managed4

IGG14 Growth Mixed Asset Active Managed4

IGG15 Growth Equity Global3

IGG16 Growth Equity Global Emerging Markets

IGG17 Growth Fixed Income UK Zeros1

IGG18 Growth Equity China/Greater China

IGG19 Growth Mixed Asset Mixed Investment 0-35% Shares5



IGG22 Growth Mixed Asset Flexible Investment5

ISS01 Specialist Funds Specialist Funds Specialist

ISS02 Specialist Funds Specialist Funds Technology and Telecommunications

ISS03 Specialist Funds Specialist Funds Personal Pensions

ISS04 Specialist Funds Specialist Funds Absolute Return

ISS05 Specialist Funds Specialist Funds Property

UNK01 - - Unclassified

Please see http://www.investmentuk.org/statistics/sector_definitions/fund_class.asp for more details on the

IMA classification system.

1 Note that the UK Zeros sector was discontinued by the IMA as of 30/09/2009 but is provided here to cater

for submission of historical data which may have fallen into this sector.

2 Note that IMA sector “UK Equity Income & Growth” was recombined with the UK Equity Income sector as of 01/07/2010.

3 Note that IMA sector “Global Growth” was renamed as “Global” as of 01/01/2011.

4 Note that the Active/Balanced/Cautious Managed sectors were discontinued by the IMA as of 01/01/2012

but are provided here to cater for submission of historical data which may have fallen into this sector.

5 Note that these sectors were active as of 01/01/2012.

http://www.investmentuk.org/statistics/sector_definitions/fund_class.asp

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