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Leverage Custom Fields for RIA Analytics

Contents

Introduction

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.

Custom Field Types

RIA Analytics uses the following field types:

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 ID

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.

Create Custom Fields for RIA Analytics

To create the custom fields, follow these steps:

1. On the Setup menu, select Custom Fields.
2. On the Custom Fields page, select Create.
   
3. Complete the following:
   
   • Field Name:
     • Analytics Billable Account
     • Analytics Household ID
     • Analytics Client Name
     • Analytics Primary Advisor
   • Section: Analytics
   • Type: String
   • Default Value: (leave blank)
   • Available for: Accounts
   • Select Allow in reporting checkbox.
   • Be sure to leave the Maintain History and Use dropdown values checkboxes clear.
   
   
4. Select Create. You will need to create all four 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.

Bulk Upload Custom Fields for RIA Analytics

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:

1. Create a .CSV file with the following column headers and pertinent information:
   • Account Number
   • Analytics Billable Account
   • Analytics Household ID
   • Analytics Client Name
   • Analytics Primary Advisor
2. On the Setup menu, select Upload.
3. Select Account Information in the Add an upload data set list and select Add.
   
4. Select Browse to navigate to the location where you saved your .CSV file and select Open.
   
5. Select Upload.
6. 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.