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Track Managed Value and Net Worth in Tamarac CRM
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Include a Financial Account in Net Worth |
Tracking net worth is a key component of your business. To help you accurately track clients' net worth, Tamarac CRM offers the following features:
For Accounts linked to Households Tamarac Reporting: Net worth is based on Include in Net Worth in the Tamarac Reporting Household. For more information, see Household Integration.
For unlinked Accounts: You add the relationship manually to Tamarac CRM and indicate whether a Financial Account should be included in net worth.
This topic provides details on how to set up a Financial Account-Account relationship to include a Financial Accounts in the CRM Net Worth calculation for the Account.
You can only assign the Financial Account to one Account. You can't assign a Financial Account to multiple accounts.
To include a Financial Account in the net worth calculation for a Household, turn on Include in Net Worth for that Financial Account.
You can access this setting from the Household/Financial Account Relationship, which is available in the Financial Account or Account.
If the toggle is locked, the Account or Financial Account is linked to a record in Tamarac Reporting. In this case, the toggle follows the Include in Net Worth settings applied in Tamarac Reporting. For more information, see Household Integration.
On the Financial Account, in the Relationship sub-grid, you control Include in Net Worth:
The new relationship is also available in the Household/Financial Account Relationships page under Related for the Financial Account.
On the Account, in the Relationship sub-grid, you control Include in Net Worth:
The new relationship is also available in the Household/Financial Account Relationships page under Related for the Account.
You can manually add a new Financial Account relationship from either the Financial Account or Account level using +New FA Relationship. When you add the new relationship, you can set Include in Net Worth.
When adding a Financial Account relationship, you will be required to fill in the Account or Financial Account depending on where you are adding from.
From the Financial Account, you add a relationship to an Account:
From the Account, you add a relationship to a Financial Account:
Deleting the record will only delete the Household-Financial Account Relationship record. This will not delete the Account or Financial Account records.
To remove the relationship, in the relationship, on the ribbon, select Delete.
The record will be deleted and not be shown either from the Financial Account or Account.
After you've added or removed a Financial Account, select Refresh on the sub-grid to refresh the view and see the changes.
The net worth-related fields you can edit change depending on whether:
The Account is linked to Tamarac Reporting.
There are any Financial Accounts linked to the Account.
The following table provides details on each possible scenario.
| Account Linked? | At least one Financial account? | Managed Value, Unmanaged Value, Assets, & Liabilities Fields Locked? | Managed Value, Unmanaged Value, Assets, & Liabilities data source? | calculations |
|---|---|---|---|---|
| No | No | All unlocked | Manually entered on the Account. |
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| No | Yes |
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| Yes | Yes | Yes | Automatically synced from Tamarac Reporting. |
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The following events trigger a net worth recalculation:
Creating a new Account record.
Updating the Tamarac link status for an Account.
Updating Managed Value, Unmanaged Value, Assets, or Liabilities for an Account or Financial Account.
Deleting a Financial Account record, if it had associated Accounts.
Creating a new Financial Account-Household relationship.
Deleting a Financial Account-Household relationship.
Updating Include in Net Worth for a Financial Account-Household relationship.