These updates are only communicated Dealer to Issuer. Issuer changes are not communicated to the Dealer.
Advisor Reassignment
An EdgeLink update for an Advisor Reassignment would be sent by a Dealer when an Investor is assigned to a new Advisor in the Dealer's system.
Dealer to Issuer
When the Dealer of a connected Investor updates the Owning Advisor, this Advisor Update is communicated to the connected Issuer.
Issuer Receiving the Request
The update to the Issuer would display the below detail in their Pending Updates table:
Request Type- Advisor Reassignment
Company - Name of Dealership
Updated On - Requested Date
Updated By - Initiator of the Advisor update
Details - The advisor for INVESTOR NAME has been changed from OLD ADVISOR to NEW ADVISOR
Action - Accept or Decline
Issuer Accepting the Request
Clicking Accept would:
Update the investor's advisor to the Issuer's matching advisor when accepted (if the advisor is already a part of the current Issuer's system),
Prompt you to create a new advisor profile (if the new advisor is not an advisor in the Issuer's system).
New Position
A New Position transaction would be used by a Dealer when a new investor is added to the Dealer's system and that investor holds active holdings with the Dealer's current EdgeLinked parties.
Dealer to Issuer: Dealer Sending the Request
When a Dealer closes a New Position for an EdgeLink-connected Offering, a pending update would be sent to the connected Issuer.
Issuer Receiving the Request
The New Position update to the Issuer would be displayed in their Pending Updates table.
Clicking "Accept" will display a table confirming the matched investor details:
*Note: If accepted by the Issuer, any previous Dealer EdgeLink connection they have would be broken and a new connection created with the updated Dealer. A non-transactional update would be sent to the previously connected Dealer, informing them of the broken connection.
Request Type- New Position
Company - Name of Dealership
Updated On - Requested Date
Updated By - Initiator of the update
Details - A request to create a new EdgeLink Connection for INVESTOR NAME has been sent.
Action - Accept or Decline
Post Issuer Acceptance - Issuer Accepted and Sends Update to old Dealer
An EdgeLink update is sent to the original Dealer from the connected Issuer.
The update to the original Dealer would display the below detail in their Pending Updates table. Accepting this update will pop up a message that says “Accepting this update will break the EdgeLink connection for this investor and create a new End Position transaction in your system, are you sure you want to accept?:
Request Type-Dealer Reassignment
Company - Name of Issuer
Updated On - Requested Date
Updated By - acceptor of the New Position transaction
Details - The connection for INVESTOR NAME has been broken and an End Position transaction was created, you will no longer receive updates on this investor or their position.
Action - Accept
End Position
An End Position transaction would be used by a Dealer when an investor chooses to have their investments managed by another party.
Dealer to Issuer: Dealer Sending the Request
When a Dealer closes an End Position transaction for an EdgeLink-connected Offering, an EdgeLink Update request will be sent to the connected Issuer. This request will break the current EdgeLink connection so no further transaction details are shared in regards to this investor.
Issuer Receiving the Request
The update to the Issuer would display the below detail in their Pending Updates table:
Request Type- Investor Connection
Company - Name of Dealership
Updated On - Requested Date
Updated By - Initiator of the End Position transaction
Details - A request to break the EdgeLink connection for INVESTOR NAME has been sent, no further details will be shared about this investor or their position.
Action - Acknowledge
When acknowledged, the investor and all transactions will be reassigned to Unassigned Dealership/Unassigned Advisor.