Paperless Reporting Is Here!

Topic: Inside Nexus

R. Denys Calvin, CFA

May 1, 2017

Image used with permission: iStock/golubovy


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Paperless Reporting Is Here!

We’re pleased to announce that Nexus is going digital! As we see the firm maintain steady growth, we continue to evolve to meet our clients’ needs and improve our services. In today’s digital era, this includes offering reporting electronically to those clients who wish to receive it that way.

Our usual quarterly materials, along with monthly account statements and annual tax materials from the custodian, RBC Investor Services Trust will be included on our platform. Paperless reporting is available instead of, or in addition to, the existing printed documents.

On-line reporting is delivered through a “portal” that is accessible through our website. The electronic documents are the same as the usual hardcopy materials, simply in pdf format. They can be reviewed on screen or printed out. Clients receive an email alerting them each time a new document is “posted” to their portal account. As new documents are added, previous ones will remain.

The portal is accessed through all the major browsers – on a computer; on a tablet, like an iPad; or on a smartphone, like an iPhone. Information on the portal is organized in three groups: Nexus, RBC Account Statements, and RBC Tax. The most recent documents are displayed at the top of each group. However, it is easy and quick to search for an older document by entering a few characters from its file name.

A third party, such as a family member or tax preparer, can also be set up to receive reporting electronically (even if the client prefers to stay with printed materials only). Someone, like an accountant, who receives reporting for more than one client does not need to log into multiple “accounts”. They can find all their clients’ reporting in one place and can easily distinguish between different clients’ documents.

Protecting clients’ privacy is a top priority. We’re not putting everyone’s information on the portal. Only those who have asked to be enrolled will have their reporting uploaded there. We won’t be “backfilling” the portal with historical documents. Thus, someone who enrolls in May won’t see anything till early June when the RBC account statement for May is available.

Our portal will use “two-factor authentication”, which is increasingly common and the current best practice for on-line account security. In addition to a login “ID” and password, clients will need a cellphone capable of receiving a security code by text message in order to authenticate themselves periodically. Finally, the portal will log off automatically after a few minutes of inactivity.

Enrolling to receive on-line reporting is easy. Our plan is to contact all clients who have an email address this spring. However, if you haven’t heard from us yet and are keen to get started, please contact us.

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