The Compliance > Drift Exceptions page shows all of the drift exceptions for a particular advisor and can show all exceptions for all advisors.
Drift is the difference between the Prism score of a client’s account, or the combined Prism score of their accounts, and the client’s Risk Tolerance score. It is a measure used to show if a client’s account(s) is aligned with their risk tolerance. If the difference is too high then a drift exception is created/identified.
Currently, by default, the drift exception is set to 2 within Stratifi. This means that any difference that is higher than 2 will be identified as a drift exception whether it is 2 above the Prism score (or Risk Tolerance score) or 2 below. For example, if an account has a Prism score of 6, then a drift exception will occur if a Risk Tolerance score is greater than 8 (8-6 = 2) or lower than 4 (6-4=2). At the moment, you cannot alter this setting yet but we have plans to make it adjustable in the future.
When you look at the Clients page, you will see the Drift scores and in this case, it is showing the difference between the clients’ overall Prism scores and Risk Tolerance scores. Exceptions are highlighted in red and can easily be picked out. You can even sort by Drift by clicking on the Drift column header.
In the Compliance > Drift Exceptions page, the Compliance Officer will see the drift exceptions for accounts under a particular advisor. This can be changed to view the exceptions under a different advisor, or all advisors, by clicking the drop-down menu at the top of the table and selecting the relevant option.
Notes can be added to various accounts by hitting the Compliance Note button icon. You will also see the history of notes for that particular account.
Once you hit the button, a pop-up window will appear. Here you can choose from preset notes types by opening the drop-down menu.
After a note type is selected, you can type in some notes if you like and you can also tag other members by using @firstname-lastname. Once you start typing @ and a letter, you should be given various options that you can select from. The more relevant letters you enter the fewer results you should see. Click the Save button to save the note. Any team member tagged in a note will be notified by email.