Managing Clients

This chapter provides an overview of PeopleSoft Enterprise Client Management and discusses how to work with and maintain clients.

Understanding Client Management

Each of the clients that a financial institution manages is stored in the Person component in PeopleSoft's Customer Data Model. The client is stored as a person with the role of Consumer. A financial advisor (FA) can quickly navigate to additional information that provides a holistic view of the client, including a relationship overview, contact summary, key product holdings or services, and additional opportunities that are associated with the clients.

Clients can belong to a household. A new business object, Household, has been created to fulfill the business requirements of the client management business process.

Person

PeopleSoft Enterprise Client Management relies on the Person component.

Relationships

Household, family, business, and other relationships characterize the extent to which a client is an influence on the other people who may be sources of revenue to the enterprise.

Relationships are displayed in three places in PeopleSoft Enterprise Client Management: the Client Summary page, the Relationships page in the Person component, and the Members page in the Household component. To accommodate PeopleSoft Enterprise Client Management's household needs, you must classify the relationships. Relationships contained within a household are different from other relationships, as not only is the client related to the other household members, but also each household member is related to one another. FAs can view a detailed account of all the relationships that a client has by classification (household, family, business) and role (head of household, husband, wife, child, attorney, and so on). Contact information for each relationship is displayed, making it simple for an FA to bring up a list of all individuals whom the client influences. The system also displays the rolled-up total of enterprise products held by each individual.

Household

Relationships in the Household category are unique to other relationships. The client is related to all the other household members, and they are all related to one another.

See Setting Up Households.

Risk Summary

PeopleSoft provides the ability to identify clients at risk, marking clients who have generated no activity over a period of time, or after a change in the advisor who is assigned to the account. The solution also provides the ability to create and manage a recovery plan for clients at risk.

Clients at Risk

Clients at risk are persons that may remove their money from your financial institution. A client at risk can be defined manually or automatically based on predefined business rules. Every time that a client is determined to be a risk, a recovery team and recovery plan are automatically assigned. The system tracks the risk history of each client. The Risk Summary page displays the date that the customer was determined to be at risk, the reason, and the current status of that risk event. Also shown is the recovery plan, the members of the recovery team, and notes about the client.

Financial Advisor Termination

PeopleSoft provides one business rule to automatically identify a client at risk . When an FA is terminated for a particular client, that client is automatically identified as at risk . Termination of the FA is determined by the change in the Employee Status field in the Worker component. When the system has identified a client as at risk, the system notifies the members of the original account team and the newly created risk recovery team.

See Working with Active Analytics Framework.

Warning! Any financial advisor can create a client at risk, however drilling down to the client details is restricted to the owner of the client. This condition must be met to create a Client at Risk record when the worker status is terminated or retired; the system initiates a WORKFORCE_SYNC EIP, thereby creating a Client at Risk record.

See Also

Managing Clients at Risk

Workforce Management

Products

The system displays holdings, financial accounts, balance sheets, and products of interest on the Products page. The system updates account balances and revenue by using a real-time integration with the legacy system. The customer is responsible for creating an inbound asynchronous message for this update to take place. The system displays product holdings in a pie chart that shows how the assets currently under management are invested by asset class. Additionally, a grid displays the information represented on the pie chart, but in more detail. The grid includes the percentage that each asset class is of the total portfolio and the cumulative value of each asset class. The grid also shows the top holdings for the client. The system also displays asset class, equity symbol, a description of the holding, the number of shares, and the current value of those shares.

Holdings are products that a client has under management with a particular financial institution, whether it is the institution that the FA represents, or elsewhere.

It is essential that FAs know the total net worth of each of their clients, which includes both assets and liabilities. This information is displayed on a balance sheet.

Products of Interest

A product of interest is a product or service that a client has expressed interest in, but does not have in their product holdings Products of interest can be products that the client is tracking, as well as products that are recommended by the FA. Using Products of Interest functionality, the FA can track: product description, dollar amount interested in, level of interest, and comments regarding the interest. The FA uses this information to help understand the desires of the client. When there is an opportunity to share information regarding a specific product, the FA can get a complete call list of customers that have expressed interest in a particular product and begin making calls to these customers to generate revenue.

See Also

Managing Products of Interest

Referrals

A referral is a type of lead. Referral management is the process within a financial services organization that is used to track referrals of new and existing customers. It is in the FA's best interest to track referrals of new and existing customers to other lines of business. Referral management gives the FA the opportunity to follow up on any referral, whether it means calling a potential client or calling the person in a different line of business to whom the FA referred this person. You access the Referral page by selecting the Referral tab on the client summary; the system provides the FA with a one-click method of recording a referral, whether referring the client to another financial services professional for assistance or recording a referral from the client.

Note that even though a new client may be created from the Referral page, this does not automatically grant that user access to the new client. An administrator must add the user to the new client's account team before the user can access this client. For example, although a teller may refer a new client, the administrator decides if it is appropriate to add the teller to the account team.

If the referred person already exists in the customer data model, the name, address, and email address are populated automatically. If the person does not exist, the system creates a new entry in the customer data model to act as a link from the Referral component to the Person record. A referral is a row in the Lead table, RSF_LEAD with REFERRAL_FLG = 'Y.'

When you create a referral, the system assigns it automatically to the financial advisor based on the assignment engine that is used by the sales organization. Assignment criteria typically include product type and geographical location. After the referral is assigned, the system determines an FA based on the sales territory hierarchy. The system adds the person who refers the client as a member of the lead team so that the person can track the progress of the referral. After the system assigns the referral to an FA, that FA has the option of either accepting or rejecting it. The system sends notification to the FA upon the assignment and acceptance of the referral using AAF. Predefined business rules are delivered with AAF that notify the referral source if the referral is not assigned or is rejected within a set period of time.

Opportunities

The system displays all the opportunities associated with a client.

Account Team

By default, the system adds all members of the account team to the recovery team.

Reports

An FA has the ability to create two types of reports: a Taxi Cab report and a Touch Summary report (call report). The Taxi Cab report enables financial advisors to bring a hard copy of client information into meetings or wherever it may be helpful. A Touch Summary report summarizes the contact and interaction that an FA had with a client over a specific amount of time.

Plans

The Client Investment Plan page enables the FA to work with a client to establish the client's investment goals and plans of action to achieve those goals.

Working with and Maintaining Clients

This section discusses how to:

• View client summary information

• Maintain relationships.

• View risk summary information.

• Maintain product information.

• Manage referrals.

• Manage opportunities.

• Create account teams.

• Maintain call reports.

• Create plans.

• Define attributes.

Pages Used to Manage Clients

Viewing Client Summary Information

Access the Client Summary page.

Financial Summary

Relationships

The Relationships group box groups the client's relationships by type, such as household, family and contacts.

Click the relationship link to view, update, or end the relationship.

Click the Add Relationship button to add a new relationship.

Top Client List

Click the Add to Top Client List button to add this client to your top client list. You must save the page for the action to take effect.

Assets Under Management

This group box lists all the client's accounts with a description and the current holding.

Click the Number link to access complete information about the account.

Products of Interest

This group box lists all products of interest for the client with the interest level, a description, and amount.

Click the Description link to view detailed information on the Product of Interest page.

Click the Add Product of Interest button to access the Product of Interest page.

Plans

This group box list all plans for the client displaying the Plan Name, the plan status, and the start date.

Click the Plan Name link to access the My Client page where you can view and create plans for the client.

Click the Create Plan button to add a new plan for the client.

Reports

Click the Touch Summary Report button to generate the touch summary report

Click the Taxi Cab Report button to generate the taxi cab report.

Business Process

The system displays any business processes connected with the client.

Maintaining Relationships

Access the Relationships page.

Relationships	Displays the relationships among persons.
Holdings	Total amount held in the institution.
YTD Revenue	The revenue that the institution earned from the client.

Viewing Risk Summary Information

Access the Risk Summary page.

To access the Client at Risk page, select a risk reason from the risk summary list.

See Managing Clients at Risk.

Maintaining Product Information

Access the Products page.

The Products page displays information as a pie chart. Grids are included to access more detailed information.

Products - Accounts

Access the Products - Accounts page by clicking the Accounts link.

Registration Name

Name given to the financial account.

Products - Balance Sheet

Access the Products - Balance Sheet page.

The balance sheet displays the client's current total net worth divided into assets and liabilities.

Asset and liability details are displayed by type with a cumulative value for each type. You can access the details for each holding by clicking the Details link.

Click the Add Asset or Add Liability button to access the Asset/Liability page.

See Defining Asset Category Types and Asset Categories.

Products - Products of Interest

Access the Products - Products of Interest page by selecting the Products of Interest link on the Products page.

See Managing Products of Interest.

Managing Referrals

Access the Client - Referrals page.

Select the Referrals tab on the Client page to display a list of referrals.

Referral

Access the Referral page by selecting a client from the Referrals list.

The RSF_LEAD_WM display template under the FIN market controls the RSF_LEAD_LIGHT page. The standard sales application that is licensed with this page is not visible or used; only PeopleSoft Enterprise Client Management customers see this Referral page.

Managing Opportunities

Access the Opportunities page.

To access the Opportunities page, select an opportunity from the Opportunities List.

See Managing Sales Leads and Opportunities.

Creating Account Teams

Access the Account Team page.

Owner

The team leader. This person is responsible for the account.

Maintaining Call Reports

Access the Call Reports page.

To access the Call Report page, select a subject from the Call Report list.

Subject	An overview of the task.
Event Type	Indicates what type of event needs to take place to complete each task.

See Working with Call Reports.

Creating Plans

Access the Plans page.

Plan Name	A label to identify and differentiate the plan.
Plan Type	The purpose of the plan.