Note: This article has been updated to reflect recent changes in the software. Please review the new information to stay up to date with the latest features and improvements.
The Relationships feature allows multiple people to be linked to an Investing Account, with the ability to monitor their Investments together. One individual would be the Primary Contact, and multiple individuals would be the Relationship Contacts.
Oftentimes, investors want to give their partners, accountants, and other relationships access to their investment accounts. For instance, there might be a group of investors who formed an LLC and invested in your last project. As such, they want to ensure that all the members of the LLC have visibility to the investment account/entity. You can facilitate this scenario in InvestNext by adding Relationships to the given investing Account.
For example, these relationships could include assistants managing email distributions, LLC members, or IRA contacts.
Adding relationships to your investment account ensures seamless communication and effective management across all relevant parties. This feature is especially beneficial for maintaining clarity and involvement within group investments and facilitating administrative tasks.
Step-by-Step Instructions:
STEP 1. Navigate to the Accounts tab:
STEP 2. Navigate to a specific Account and click on its name:
STEP 3. In the left-hand column, scroll down to Relationships and click the '+' symbol:
STEP 4. Choose the Contact and Relationship Type (Broker, Partner, Accountant, or Financial Advisor). Then click Add Relationship:
NOTE: Relationship Contacts will have limited access to the Investing Account. What they can or can't view, edit, and do is outlined below. The following applies to all 4 Relationship types:
CAN view:
Documents in the "Documents" tab of the Investor Portal:
General
Tax
Statements
Position details in the "Investments" tab of the Investor Portal:
Metrics
Class
Transactions
Capital Balance
Updates in the "Dashboard" tab of the Investor Portal.
CAN receive notifications:
New Documents uploaded by the Sponsor
New Distributions*
New Portal Updates (Partners only)
CAN'T view or edit:
"Investing Account" settings in the "Settings" tab of the Investor Portal:
Bank Account
Tax ID
Address
CAN'T do:
Create a new Commitment/Investment using that Investing Account in the "Offerings" tab of the Investor Portal:
If the Relationship creates a commitment, they will not have the option to use this Investing Account
When documents are shared on the Project-level or Position-level:
Notifications are sent to Relationship Contacts associated with Accounts that have an active Position for a given Project.
When documents are shared on the Account-level:
Documents are shared with all Relationship Contacts, but notifications are not sent out.
STEP 5. The Contact will now appear under the Relationships section:
TIP: To remove a Contact listed under Relationships, hover over their name and click the X.