Advisor Codes, also known as Rep Codes, typically come from the Custodian to establish management of accounts. Advisor Codes are important in the Wealth Platform to do the same. Reps will be associated with these codes so any accounts that are opened and associated with a Rep Code will be properly processed and billed by the Custodian.
Additionally, codes are used when creating billing structures, setting up Subtenant sites, setting up DocuSign signatures, and even for displaying contact information to your clients.
If you are adding a new Advisor and a new Advisor Code, it is recommended to create the Advisor Code first.
Note: The wealth platform interface uses the term “Advisor Codes” here regardless of your custodian. This stands in for the following terms for the different custodians supported:
- Fidelity: G-Number
- Schwab: Master Account Number
- Pershing: IP Number
- TD: Advisor Code
Adding Advisor Codes
- Navigate to Run Business > Firm Profile > Advisors.
- Click in the upper right.
- Enter the new Advisor Code in the pop-up window. Be sure to select the correct Custodian if the default is not correct.
- Optional TD Firms may upload pre-assigned account numbers as part of this step, including fee structures.
- Click Advisor of Awaiting Assignment and a Fee Structure of Asset Based.. The new Advisor Code will be added to the Advisors list with an
- Locate the new Advisor Code in the Advisors list if you need to adjust either of the following:
- Adjust the Fee Structure drop-down if needed. Fee Structure options are Asset Based, Transaction Based, or WRAP Fee.
- If the Advisor for this code already exists in AdvisorEngine, use the Advisor Name drop-down to assign the Advisor. If the Advisor is not yet created, see Adding Advisors to assign the code as part of adding the new Advisor.
If an Advisor has more than one code, repeat this process for each. For information on splitting a code between multiple Advisors, see Splitting Advisor Codes.
Advisor codes may also be created in bulk as part of the Adding Advisors in Bulk feature.
Splitting Rep Codes
A split Advisor Code is one that flows all revenue into other established Advisor Codes on a percentage basis you establish. Select or Create a New Advisor Code to function as the split code. Locate the code in Run Business > Firm Profile > Advisors. ...
Adding and Editing Instruments
Create, edit, and manage Instruments in the Instrument List Page. Instruments are the actual Securities (such as a mutual fund or stock) that make up the building blocks of Models. Instruments are placed into Asset Classes to provide a more generic ...
Though not required, it is suggested to create all relevant Advisor Codes for the Advisor first. Adding a Single Advisor Navigate to Run Business > Firm Profile > Advisors. Click + New Advisor in the upper right. The Advisor Profile page opens. Fill ...
Adding New Contacts
Contacts are the base of all interaction with Prospects and Clients. Contacts can be created directly, imported in bulk, or automatically created as part of the digital onboarding experience. Adding a New Contact To add a single Contact to the ...
Adding and Editing Models
The Models page allows users to create, edit, and manage models. Adding New Models Navigate to Grow Practice > Customization > Models. Click Actions > + Add New in the upper right. Fill in the necessary content in the available fields: Display Name: ...