Estates survey - please take 5 minutes to respond and be in to win
We're undertaking a quick survey to find out more about how firms manage estates currently and to test the appeal of our proposed product. We'd really appreciate law firm staff and others who deal with estates at all levels spending a few minutes to take part. By doing so you could also win one of two cases of gold medal winning wine! To take part, click here.
Since the start of the year we've been working hard to bring our Knowledgebase support.connectworks.com up-to-date with all our new features and enhancements. We're pleased to announce that the update is now complete.
We've added a large number of new articles, updated every screenshot, created downloadable training modules and draft letter templates to help you engage with your clients and other professionals around the use of Connectworks.
We've also added a user guide section for end users (your firm's clients) and updated our search function to make it quicker and easier to find what you're looking for. Now you can either look for what you need within a category, or just type a couple of key words into the search bar and you'll be directed to the most relevant articles.
We would love your feedback on how you find using our support site. Are there topics you think we should add? Or more downloadable training modules you would like to see? If so, please get in touch with us at firstname.lastname@example.org and let us know, or leave us a message in the comments section at the bottom of the relevant article.
While we've made it easier to find support online, you can still talk to a real person based in New Zealand if you ever need to by calling 0800 456 580.
New Assets and Liabilities functionality (Trusts) is live
The upgraded Assets and Liabilities module has been live for a few weeks now. We've had great feedback from users about it being more flexible and comprehensive. Find out more in one of our training webinars to be held on Tuesday 4th June and Friday 7th June. Registration links are at the bottom of this email.
More new features
Easily file annual returns for companies with extensive shareholdings
The Companies Office requires you to upload a list of all shareholders when filing the annual return for companies with extensive shareholding. This list can both be generated from Connectworks (if you have added the details of
all shareholders) and then e-filed from Connectworks to the Companies Office.
The filing process is different from that for other companies, so please see our support article Filing Annual Returns For Companies With Extensive Shareholding.
You may notice some changes to address fields. This is in preparation to integrate with the NZ Postal Address File (PAF) system. Using this system will greatly improve the speed and accuracy with which addresses can be recorded.
Extended Power of Appointment text field (Trusts)
Extended from 250 to 1000 characters to allow users to record all the details for those complex arrangements.
Linked selection of PEP status to requirement for source of funds information (AML/CFT)
When completing the PEP & Source of Funds section for a CDD Candidate, if a user indicates that the CDD Candidate is not a politically exposed person, the flag indicating that source of funds information is not required is now automatically selected.
Added ‘Trust’ to CDD Risk Assessment (AML/CFT).
‘Trust’ has been added to the list of identifiable AML/CFT risks. It is pre-selected in all cases where the CDD is being performed on a trust.
Identity Verification in Connectworks for AML/CFT compliance
We’ve been looking at overall usage data around identity verifications in Connectworks and noticed that sometimes the final step, making an identity determination, has not been completed. The AML/CFT Act requires reporting entities to both acquire and verify identity information about their clients.
Connectworks provides a three-step process for identity verification:
Record identity information in a person’s Connectworks profile;
Gather evidence confirming the veracity of that information;
Make a determination that the identity information belongs to the person claiming it.
Once the determination has been made, the verified identity record can then be reused when performing due diligence on any additional entities the person is involved in.
To find out more about the Connectworks identity verification process, read our article here.
If you would like an excel report listing all of your firms contacts with identity evidence loaded but no determination made, just get in touch with us at email@example.com and we would be happy to provide this.
Law Society Trusts Conference
We'll be at the Law Society Trust Conference in Wellington on June 17/18 and Auckland on June 24/25. Come by and say hello.
We use GoToWebinar - simply register for this months live sessions below. You are also welcome to visit our Training Video Platform to view recordings of our most popular topics at your own pace. If you would like to arrange a one-on-one training webinar for your firm get in touch with us at firstname.lastname@example.org
A high level overview on all trust & trustee company functionality. 45mins.
Wed 5th June @ 2pm - Register
Trust Assets & Liabilities
Learn how to use the new Trust Assets & Liabilities functionality in Connectworks. 30mins.
Wed 5th June @ 10am - Register
A high level overview on all company functionality including annual return processing. 45mins.
Thurs 6th June @ 10.30am - Register
AML/CFT in Connectworks
Learn how to manage your AML obligations in Connectworks. 30mins.
Thurs 6th Jun @ 3pm - Register
Quote of the month
"All progress takes place outside the comfort zone."
- Michael John Bobak