Firm Administrator Roles

Collaborative Financial Planning with Firm-Level Control

RightCapital is designed to scale alongside the firms that use our software. As firms seek more collaboration and control over planning parameters, they can enable RightCapital's firm settings. Firm Settings provide options for control over:

Firm branding & report disclosures
Templates for PDF reports, Planning Access, the Vault, & the Snapshot module
Investment return assumptions
Inflation assumptions and misc. assumptions
Custom models, including Model Portfo lios, Glide Paths, Return Scenarios, Vesting Schedules, and Retirement Spending Strategies
Customizable Asset Classes
RightFlows templates and groups
Risk Questionnaires
Customize Risk Catagories

Firm settings are only available for firms with specific subscription requirements. Please reach out to sales@rightcapital.com for more information on enabling these features.

Firm Administrator Overview

For teams that enable firm-level controls, individuals are selected to manage the settings associated with the group. These individuals are referred to as the administrators. Only the firm's administrators can access the Admin Portal, which can be customized to control firm disclosures, branding, and more. The administrators can also access all client plans for advisors in their firm. Additional areas will be added if firms choose to enable Custom Asset Classes or RightFlows, or if they elect to control asset return assumptions and model portfolios. The firm tab is in the super administrator's Advisor Portal > Admin tab. The selections made by the administrators will automatically be available to the other team members.

Currently, there are 4 different admin roles, each role will have control over different aspects of the system:

*Where applicable

Your Admin tab may have slightly different options than the screenshots below, depending on your firm's specific features, elections, and roles.

Customization Admin

General Information

The Gear Icon > Account > General Information area allows firms to input their name and address and add report disclosures needed for compliance. This area populates the information on each generated report's cover page. The general information page is turned on as a default for Customization Administrators.

Customization

First impressions are everything. Successful firms ensure their clients have a consistent user experience by branding RightCapital software and customizing client invitation emails within the Gear Icon > Account > Customization tab. Start by uploading your logo & color theme, then review the invitation email templates at the bottom of the page. The customization area is turned on as a default for Customization Administrators.

For more information and details pertaining to custom branding, please reference this article.

Templates

The Customization Administrator for each firm can create, edit, and delete templates that will be shared among all advisors of that firm. The Templates tab is accessed through the Advisor Portal > Admin > Templates menu.

Templates for Reports, Planning Access (client portal layout), the Vault, and the one-page Snapshot dashboard can be created. Once created, the firm templates will be automatically available for each advisor to use with clients. Any template created at the firm level will appear as "read-only" under the advisor's personal Gear Icon > Templates tab. Firm templates can only be modified by the firm's super admin. Firm Templates can also be applied to client groups for each advisor.

Models

The Customization Administrator of an organization will be able to create Portfolio, Glide, Scenario, Vesting, and Retirement Spending Models for the firm that can then be used among advisors. The firm-level models will be treated like our default models and can not be edited by advisors. Advisors will continue to have the ability to create their models within their Advisor Portal > Models tab.

Risk

If Risk is enabled for your firm, there will be an additional 'Risk' section within the Admin tab. The Customization Administrator of an organization will be able to create risk tolerance questionnaires for the firm that can then be used among advisors. The firm-level questionnaires can not be edited by advisors.

There will also be an additional "Risk" section in the Oversight tab, where you can control if firm members can create their own questionnaires. If this option is deselected, firm members will only be able to use firm-level questionnaires.

Beneath this option, you can also determine if

Advisors are able to utilize their own Risk Categories.
If you'd like them to adhere to a set of firm-level categories.
If they can choose between the two. You can also opt to disable risk category functionality at the firm level.

Choosing an option that includes firm-level categories will add an additional Categories tab to the Risk area, allowing you to dial in the risk categories at the firm level:

Operations Administrator

Oversight

The Gear Icon > Account > Oversight tab allows the Operations Administrator of a firm to control certain profile information, branding, and invitation email templates used in the organization. The organization's members can make changes if the setting is checked off. If the setting is unchecked, we will apply the firm setting.

The Oversight tab will allow the Operations Administrator to control if the firm member can:

Update their firm name.
Update their address.
Use their own report disclosures.
Customize their branding.
Customize their invitation email template.
Customize inflation and misc. assumptions (if enabled)
Allow use of the Iris AI for team members

Asset Returns

Controlling return assumptions for your team and reviewing these assumptions periodically is essential to keeping your team confident during client presentations. Using historical data to set return assumptions provides a systematic approach to factoring the historical experience data into your financial projection. Using a forward-looking method allows you to incorporate more subjectivity into the projection. Controlling asset returns at the firm level creates consistency for team members. It removes individual advisors' ability to adjust each asset class's return rate and volatility.

This feature is not included by default within the Firm tab. Locking return assumptions is only available if all advisors hold a Platinum subscription to RightCapital. To enable this feature, please have your administrator contact sales@rightcapital.com.

Asset Class

When Custom Asset Classes are enabled, we use a different model to generate Monte Carlo scenarios. This is to account for the flexibility provided for updating volatility and correlation assumptions. This granular approach utilizes a standard log-normal distribution model. If you enable Custom Asset Classes, you may see different results for existing plans. This feature cannot be turned off once enabled for the firm. For more information about Custom Asset Classes, click here.

After being enabled, Custom Asset Classes are organized at the firm level by the Operations Administrator. Only the Operations Administrator will have the ability to add custom asset classes for their team. This feature is available upon request but will not appear in the firm tab by default. If you wish to gain access to Custom Asset Class functionality for your firm, please get in touch with us at support@rightcapital.com.

Correlation

When Custom Asset Classes are enabled, firms can adjust correlations between asset categories when generating the return scenarios used in the Monte Carlo simulations. This will impact the outcomes reflected on the Retirement > Analysis screens. The correlations reflect how similar returns in each asset category will be in any given year.

Adjust the correlation between asset categories by adjusting the number in the grid corresponding to the first category on the left and the second category on the top. Once updates are completed, click Save.

A calculation will run to ensure the correlation matrix is valid; if not, an error message will display, and values must be corrected. An example of an invalid correlation matrix would be if category A is 100% correlated with category B, category B is 100% correlated with category C, but category A is negatively correlated with category C.

Inflation & Misc. Assumptions

If enabled within the Gear icon > Account > Oversight tab, inflation assumptions and misc. assumptions can be set at a firm level within the Assumptions tab:

Operations Administrators can also specify if firm members must use the new firm-level assumptions, or if they can use their own. This is set within the Oversight tab.

Changing Administrator Roles

To adjust the Administrators associated with your firm, please have an authorized signer for your team reach out to sales@rightcapital.com or contact our Sales Team at (888) 982-9596 option 1.