Data Entry: Family profile

Welcome! Adding clients is a breeze, and it all starts here.

For a brief overview of establishing the family profile within a financial plan watch this short video.


Start with People

Start by entering information about the client’s immediate family.

Click on the cards to edit the client or spouse’s (1) date of birth and their (2) planning horizon (the year the plan will end).

Adjust life expectancy

Click on either the client or spouse card to adjust their planning horizon which reflects their life expectancy.  The default planning horizon is 90; you can change that for new clients under the Client Presets.

If there is no co-client, mouse over the "Co-Client" card to reveal the "X" in the upper-right hand corner. Clicking the "X" will delete the "Co-client" card.

In the client card, make sure to enter their Residence state which is the state used for calculating state taxes.

Click Add Participant to add children or any other family members that are important to include.

To access college planning cards be sure to add children to the family profile.

Click on the Next button to move on to the next step.

Frequently Asked Questions

1

Which Integrations will feed information into the family profile?

Answer: Redtail, Wealthbox, SmartOffice and Client 360 Integrations will feed family profile information into step 1 of the initial data entry.

2

What impact will adding children have to the financial plan have?

Answer: Adding children into the family profile will produce specific impacts on a financial plan. First, a college expense will be added by default in the Goals area for each child entered into the plan. Dependent children will also produce tax credits as well as a Social Security benefits in applicable scenarios. Lastly, children and other family members can be set as the beneficiary of specific accounts, or goals within a financial plan.

3

How do I change the client's age?

Answer: There is no field to enter the client's age, instead the system will use the client's birthday to identify their specific age.

4

Should I set up trusts accounts as family members on the Family Profile?

Answer: No, trust-owned assets can be entered within the Net Worth area. For additional information on adding trust owned assets please review this Help Center article.