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Home > Advisor View > Accounts, Groups & Households > Households > Creating and Maintaining Households > Create and Maintain Households: The Compliance Panel
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Create and Maintain Households: The Compliance Panel
On the Compliance panel, you can establish basic information about your relationship with clients for compliance reporting. These settings are then used on the Compliance ADV report.
This Help topic discusses only the fields on the Compliance panel, available under the Settings menu when you edit a Household. For more information on editing accounts, including how to navigate to this panel, visit Create a Household or Edit a Household.
For more information on compliance reporting, see:
The Compliance ADV report uses your account and Household-level compliance settings to generate a series of widgets you can use to help you complete Form ADV reporting.
On the Compliance panel, you can add data the following fields:
Domestic lets you classify your domestic (in the United States) or foreign client relationships at the Household level for the purpose of compliance reporting.
This information is then used on the Compliance ADV report to help you answer questions about the number and value of of foreign and domestic accounts.
Client Type lets you assign a category to the type of client relationship you have with that Household that corresponds with the client types you'll find on Form ADV.
Client Type then does two things:
This classification lets you see a breakdown of your client relationships by Client Type on the Compliance ADV report.
Client Type adds or removes account values in that client relationship from some widgets on the Compliance ADV report depending on whether they meet the definition of separately managed account on Form ADV.
Relationship start date and Relationship end date is a Household-level setting that lets you add dates to describe the beginning and/or end of a client relationship for compliance reporting purposes. On the Compliance ADV report, these dates are used to adjust the calculation of values for Form ADV reporting. For example, your client relationship started on January 10, 2022 but you're completing Form ADV for 2021, the client's account values would not be included on the Compliance ADV report.
