Overview on how the integration works
The integration enables the data that has already been loaded to Elite Wealth, to transfer into Commspace to eliminate duplicate work.
Integration type
Your office will have one of two possible types of integrations. This means that only these specific fields, provided by Elite Wealth, will be ingested by Commspace:
1. Partial - Clients and Products
2. Full - Clients, Products, Agreements and Responsible Partner
Sync cycle
How often does the data update?
Every night at 18:00 Commspace will receive a data dump from Elite Wealth. This is a list of your entire client base on Elite Wealth, in the proper format, to be sent to Commspace.
"Send to Commspace" button will send the information for that client or product to Commspace immediately. This action syncs only the selected client or product, not the entire office.
Note: the "Send to Commspace" button is not available to every user, it's an additional permission needed on Elite Wealth.
Elite Wealth vs Commspace Lingo
Elite Wealth | Commspace |
Asset Split | Agreement |
Intermediary/Staff/Responsible Person | Responsible Partner |
Effective Date | Valid From |
Product Supplier | Provider |
Product reference number | Product Number |
Product agreements update
With a full integration, when are product agreements updated on Commspace?
When a product is ‘ready’ (in force), it is sent to Commspace with the overnight sync.
When the asset split is changed on Elite Wealth, and it has the same valid from date on Commspace and is removable, it will be replaced in product agreements.
However, if it’s not removable, a new product agreement will be added with the next valid from day (day after the initial product agreement).
Blocking reasons
Insert the blocking reasons via column management in statement items to view why the product doesn't link.
Blocking Reason | Partial integration | Full integration |
Product not found | The product information has not yet been received from Elite Wealth. Follow the validation rules defined below. | Same as partial |
Product for provider not found | The product number exists, but the provider linked on Elite Wealth for this product number does not match the provider used when processing the statement. | Same as partial |
Product agreement not found | You have to specify the valid from, the agreement and the responsible partner to finally link the product. Follow the standard linking process (from step 8) to complete. | The asset split has to be correctly loaded to Elite Wealth to effectively create a product agreement on Commspace. |
Troubleshooting
To guarantee that your items link on Commspace, make sure that ALL the products you receive commission on are loaded on Elite Wealth correctly and that you comply with the following validations:
Required client validations:
Entity must by a client
Entity must have an ID/Passport/Registration number
Entity must be linked to the correct broker
Product must be loaded on the system
Product must have the correct Category and supplier
Product must have the correct contract/ref number
Product must be in force AND under management
Product Asset split must be correct
Required broker validations for full integration:
Broker must have a valid ID or Passport number on their staff profiles
Broker must have commission receive role linked to their profile
Broker must be linked to the client as the commission receiving role
How to process specific cases
If the same product number already exists on Elite Wealth, but the number is only slightly different on the commission statement, make use of the product alias tool.
Example: 456789X9 captured on Elite Wealth, but processed on the commission statement as 4567899,
If the same product number already exists on Elite Wealth and Commspace, but for a different provider than the commission statement has been processed
Example: captured on Elite Wealth as Momentum Wealth International, however processed on Commspace as MomentumNote: DO NOT use this method with Discovery Vitality, as it is an add-on product. In this case, you'd have to add another product for Discovery Vitality, along with the existing Discovery Life/Health product.
When working with a full integration, it's important to remember that if you change your existing asset split, the old split will not be deleted on Commspace.
Therefore, if you want to load a new agreement split, you will have to specify a new effective date.
Important!
Deleting anything on Elite Wealth DOES NOT automatically delete it on Commspace. You will have to delete this on Commspace as well.
DO NOT edit/override a product number on Elite Wealth. It will not be automatically updated on Commspace. To change the product number, you will have to add a new product.