Consent | Fee Consent and Opt-in Field Changes - 10th January 2025

Xplan Updates: Fee Consent and Opt-in Fields

Effective 10th January 2025

With the introduction of the new DBFO changes, Xplan has implemented minor adjustments to the existing Fee Consent and Opt-in fields. These updates primarily involve renaming the fields, while their purpose remains unchanged.

The table below highlights the old and new field names, along with their purpose:

Old Field Name New Field Name Options Notes
Opt-in required Consent Required Yes / No Indicates if the client is paying ongoing advice fees.
Next Opt-in Date Reference Date Date field The Reference date for renewing ongoing fees.
Opt-in status Consent Status Opt-in
Opt-out
Opt-out no client response
Pending client decision
  • Client has renewed ongoing service.
  • Client has declined ongoing service.
  • A response has not been received within the required timeframe (i.e., 150 days after the Reference date), therefore ongoing service is cancelled.
  • Renewal documentation has been issued and waiting on client response.
Renewal Notice Sent Date Consent Sent Date Date field Date renewal notice was issued to the client.
Renewal Response Date Consent Response Date Date field Date client responded to the renewal notice.

These changes can be accessed via Client Menu > Compliance > Opt-in Fee Consent section in Xplan.