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Step-by-Step Instructions
1. Introduction to Cost Management 0:00
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Overview of Perseptiv's capabilities around cost management.
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Importance of updated fee history for running reports.
2. Accessing Fee History 0:27
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Navigate to 'Plans' and select the 'Plan Profile'.
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Locate 'Fee History' to view and update data.
3. Updating Fee History Data 1:04
- Update assets, participants, recordkeeper, and TPA as needed.
- Changes to fee history will automatically update the most recent data under 'Plan Features' section.
4. Tracking Fees 2:18
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Understand different types of fees: weighted average of investments, recordkeeper fees, TPA fees, advisory fees, etc.
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Input fee data (e.g., per-participant fee, asset-based fee) and see calculations.
- Select the "Payment Source" to show where fees are being paid from
5. Calculating Total Fees 3:05
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System automatically calculates total $ fees based on inputs:
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Per participant fee multiplied by number of participants.
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Asset-based fees multiplied by total assets.
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6. Adding Payment Sources and Advisory Fees 3:33
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Specify payment sources for fees (e.g., plan vs. company).
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Input advisory fees and configure as needed.
7. Reviewing Fee Calculations 4:28
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After updates, review total fees as a percentage of assets and per participant.
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Ensure investment fees are net of revenue sharing.
8. Generating Cost Management Reports 6:07
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Once fee history is updated, you can run various cost management reports.
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Watch additional videos to see which reports can be generated.