Firm and Household Accounts

An advisor needs to know which household a conversation belongs to before opening an opportunity. Firm and Household Accounts holds the household name, account code, primary contact and mailing address alongside its eligibility context. App Administrator maintains the account within the advisory organization. Relationship Owner uses that account when preparing an opportunity, so later activities and review evidence lead back to the intended relationship.

The organization also carries its operating time zone and currency. Those choices help the team interpret business dates and account context. Expected opportunity values and assets under review use USD. Agree how source amounts reach those USD values during setup, especially when an advisory organization works with households whose documents use another currency.

• Account identity. App Administrator checks the household name and code before adding a relationship. Codes identify accounts within their organization. A similar surname or shared mailing address is a reason to inspect the existing account before creating another.
• Membership. Each advisor or staff member connects to a platform user through their team membership. The member’s active flag, organization and role describe the operating context. Opportunity ownership belongs to a team member, giving a manager a named person to ask about the next conversation.
• Eligibility context. Keep the household’s eligibility note understandable to the Relationship Owner. It supplies context for the relationship; the advisor should still attach the evidence used for a particular opportunity or household assessment to that opportunity.

Agree who maintains account codes, who corrects a household’s mailing address and how the team resolves a possible duplicate. Choose the organization that owns each relationship before importing open opportunities. Map advisors to their actual user identities and confirm the intended scope with an ordinary Relationship Owner account.

Set an operating rule for inactive accounts and memberships. The account’s active flag indicates whether it accepts new dependent work. A staff departure also needs an ownership review of their open opportunities. Review that work with the relevant manager and preserve the existing evidence when changing responsibility. For import sequencing and reference matching, use the data model.

Use a fictional pilot household, the Morgan household, with a primary contact and an existing advisory account code. App Administrator checks that the account belongs to the intended firm. Relationship Owner then opens an opportunity for a relationship discussion and selects that account as the counterparty.

Follow the opportunity into its household review. Confirm the reviewer can identify the household through the linked account and can distinguish the review’s household name from another family with a similar name. Repeat the exercise with a user from a different organization. The team should resolve access or identity mistakes before importing the wider book.

• Active Household Accounts — Find the household’s account code, contact details and eligibility context before starting advisory work.
• Active Advisory Team — Check the member assigned to an opportunity and the organization in which they work.

Continue with qualification and proposal preparation, then use household review when an assessment is due.