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Leverage Custom Fields for RIA Analytics
RIA Analytics is a web-based business intelligence platform designed for Registered Investment Advisors (RIAs). It was developed by Envestnet Analytics in collaboration with Tamarac. It offers the following:
Holistic business review
Business metrics
Peer benchmarking
Advisor analytics
Filtering functionality
When partnering with RIA Analytics, you can leverage custom fields to determine how Tamarac Reporting classifies your accounts. The custom fields outlined in this article will standardize how your firm tracks billable assets, household and client assignments, and primary advisor assignments for your accounts.
While Tamarac Reporting offers various ways to track this information, using these custom fields will standardize what RIA Analytics provides and configures. This will allow for more consistent, robust, and accurate data for Analytics to use.
RIA Analytics uses the following field types:
| Field | Definition |
|---|---|
| Analytics Billable Account | Defines whether an entire account is billable. By default, Analytics only shows billable assets, except for the Non-Billable Analysis dashboard. |
| Analytics Household | Defines what client or Household the account belongs to if the household definitions in Tamarac are not sufficient. |
| Analytics Client Name | Defines what the client or Household name is for the accounts in Analytics if the default logic is not sufficient. |
| Analytics Primary Advisor |
Defines the primary advisor for the account in Analytics if you don’t want to leverage either the primary advisor in the service team or the primary advisor on the account. RIA Analytics will use the service team primary advisor unless instructed otherwise. |
| Analytics Business Segment | Defines what the Business Segment value is for the accounts in Analytics. |
| Analytics Friends/Family | Defines what the Friends/Family value is for the accounts in Analytics. |
| Analytics LOB | Defines what the line of business (LOB) value is for the accounts in Analytics. |
| Analytics Secondary Rep | Defines what the Secondary Rep value is for the accounts in Analytics. |
The custom fields allow you to override the default settings. If you are satisfied with the default, you will not need to use them.
To create the custom fields, follow these steps:
On the Setup menu, select Custom Fields.
On the Custom Fields page, select Create.
Complete the following:
Analytics Billable Account
For the Analytics Billable Account custom field, use the following detail:
Analytics Household ID
Analytics Client Name
Analytics Primary Advisor
Analytics Business Segment
Analytics Friends/Family
Analytics LOB
Analytics Secondary Rep
Section: Analytics
Type: String
Default Value: (leave blank)
Available for: Accounts
Select Allow in reporting.
Do not select Maintain History and Use dropdown values for any of the fields.
Select Create. You must create all of the custom fields for RIA Analytics to use the information.
For more information, see Custom Fields for Accounts, Groups, Households, and Securities.
For more information, see Custom Field Settings.
After you create the required custom fields, you can assign each field for your accounts using a bulk upload.
To upload the custom fields, follow these steps:
Account Number
Analytics Billable Account
Analytics Household ID
Analytics Client Name
Analytics Primary Advisor
Analytics Business Segment
Analytics Friends/Family
Analytics LOB
Analytics Secondary Rep
On the Setup menu, select Upload.
Select Account Information in the Add an upload data set list and select Add.
Select Browse to navigate to the location where you saved your .CSV file and select Open.
Select Upload.
Select the Upload Status link to go to the Upload Status page. This page allows you to verify if your upload was completed successfully and to check for possible errors or warnings.
For more information, see Upload Bulk Data.