Admin Fee max
Would like to see an option for a maximum admin fee. We would like to limit the amount that our over $1million sized funds pay and right now we have to do that manually.
Joan Consani
shared this idea
6/7/2023: Admin Fee: The following enhancements are now available for Admin Fees: the ability to set funds in bulk to an admin fee type, an option to add a note to an admin fee, and on manual admin fees, the ability to select the receiving fund and accounts. The ability to create a manual admin fee is now an option in the left hand menu on the admin fee page.
Also enhanced the fund record’s Admin fee section to have a start date field. This start date can be used to enter a starting date to begin processing admin fees on a fund. The start date will look at the admin fees posting date. For example, if the fund’s admin fee start date is set to 1/1 and admin fee posting date is 12/31, it will not charge that fund for that admin fee.
Enhanced the admin fee types to now have a maximum fee per year. Clients will now see a maximum fee field added to the admin fee types. This will allow the system to only charge a fund with that type a maximum per year.
Funds Bulk Edit was also enhanced by adding the Admin Fee Start Date.
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Cheryl Lansing
commented
Fund Fee Type has a "minimum yearly fee". We have a maximum that we charge certain funds, so a "maximum yearly fee" would be helpful.