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Definition: Primary Owner

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In Tamarac, this account setting allows you to designate the owner of a financial account, asset, or liability.

Setting primary owner allows you to sort accounts on the Net Worth report by owner, making it easier to distinguish who owns what assets and liabilities.

Additionally, primary owner can be displayed on the relationship diagram for accounts and groups and is used in the integration with some instances of Salesforce.

Note

Primary Owner must be set if the account's Ownership Type is Individual.

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Set Primary Owner for an Account

To set primary owner:

  1. On the Accounts menu, click Accounts.

  2. Click the name of the account you want to set primary owner for.

  3. On the Edit panel, under the Reporting tab, click Settings/Templates.

  4. In the Net Worth Settings section under Primary Owner, select the primary owner. To choose the owner, you can select clients from the list or type in the name to search for a specific client.

    Note

    Clients can designate an account's primary owner through the client portal.

    When setting primary owner in the Primary Owner list:

    • You will see all the firm's clients.

    • Your clients will see only members of their Household.

  5. Click Save.

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Where Primary Owner is Used in Tamarac

You'll find primary owner in the following locations in Tamarac:

Action Location in Tamarac More Information
Set primary owner Maintaining Accounts: The Report Settings Panel

Manually set the primary owner for financial accounts.

You can also use the Account - Primary Owner Email field in an Account Information bulk report and bulk upload to edit primary owner in bulk. For more information, see Bulk Reports and Bulk Data Uploading.
Set primary owner

Assets and Liabilities

When you manually create a new asset or liability, you can set the primary owner.

You can also use the Primary Owner Email field in an Household Assets and Liabilities bulk report and bulk upload to edit primary owner in bulk. For more information, see Bulk Reports and Bulk Data Uploading.
Set primary owner

Client Views - Assets and Liabilities Page

When clients manually create new assets or liabilities through the client portal, they can set the primary owner.
Set primary owner

Mobile App Assets and Liabilities

When clients manually create a new assets or liabilities through the mobile app, they can set the primary owner.
Set primary owner

Yodlee Integration

When you add a linked account through Yodlee, you set primary owner when you Select Client to Link Outside Accounts, choose the client from the list.

Note

If a client links assets or liabilities with Yodlee, that client will be set as the primary owner for those assets or liabilities.
Sort Net Worth report by primary owner

Net Worth Report

In the Net Worth report, you can sort individual financial accounts, assets, and liabilities by primary owner. To sort by owner, set Column Display to Account Owners. For more information, see Column Display.
See primary owner listed on a relationship diagram card

Using the Relationship Diagram

On the relationship diagram, you can add the primary owner as a data point to display on account and group cards.
Associate a financial account with a contact in Salesforce

Salesforce: Create New Clients, Households, and Financial Accounts

For users of the Salesforce Financial Services Cloud, financial accounts must have a primary owner assigned to be associated with that contact.

 

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