Introducing: client groups
We’re making some simple but far-reaching improvements to myprosperity this week, and we think you and your clients will be quite pleased with what’s changing.
On Friday night (18th of October at 9pm AEDT) we’ll be shutting the site down for maintenance. When you wake up on Saturday, it’ll be to the new Client Group functionality.
Bringing the household together
When we launched myprosperity, we were dedicated to helping individuals manage their personal finances.
Clients have always been able to add other people as guests to their accounts, but this came with limitations. By definition, guests aren’t full account holders, which means they can’t do things like:
- Access the mobile app
- Sync their bank accounts or portfolios
- Manage the wealth portal’s settings
These access restrictions are ideal when, for example, inviting relatives to view estate planning documents, but they make things a bit harder when it came to giving both parties in a household equal access and ownership over their portal.
Not to mention the logistical impact on firms, such as having each member of a household appear as separate clients in their myprosperity client list.
Grouping clients into households has been one of our most requested features, and we’re delighted to be rolling it out this week.
We’ve done it.
When you log in to your Partner dashboard, you’ll notice some changes to your client list, with clients now listed as Client Groups. This makes it much easier to determine which clients are part of the same household, and keeps your client list nice and tidy.
Moving forward, when you or your clients add a family member to the wealth portal, you’ll have the option of making them an account owner, giving them full rights and feature access.
This of course is on top of our existing guest access functionality, which remains the same. Given how customisable and granular portal access can be, we’ve created some default options to make choosing the appropriate settings easier.
Along with Client Groups, we’ve added the ability to customise Group Names. Whether you work with multiple “Smith Families”, blended families with multiple surnames, or you just want to create a novelty demo account (see my favourite below) – you can choose the appropriate title for each.
What does this mean for Pro client subscriptions?
Subscriptions are now at a Group level, so if you have two clients sharing the one Pro wealth portal, you will only be charged once.
What changes will my clients see? What do I tell them?
No explanations needed! Everything will still work exactly as it did before, they’ll just have new options when adding team members.
What about my existing clients?
We’ve added a range of tools to manage the transition, such as the ability to merge accounts together and add additional co-owners. In the case of a merge, documents and To-dos from both wealth portals will be preserved, but only one set of assets and liabilities can be kept, so we’ll ask you which wealth items to keep.
Being able to group your clients into households will make client onboarding smoother, help clients take ownership of their finances, and make managing your client base easier than ever before.