Fundpanel's three account types (Investor, Investment Vehicle and Advisor) can all be created using the same process. This article covers the use case for each account type and provides instructions on how each type of account is created.
Investor Overview
Investor accounts are a means to group together multiple Investment Vehicles that are controlled by the same Investor(s). For example, if James Bond and Miss Moneypenny were investing through the James Bond Trust and Bond Family I LLC, they would both be saved under a single Investor account named ‘Bond’.
Investment Vehicle Overview
Investment Vehicle accounts are the individual entities where the legal names of the Limited Partner or individuals that have invested in the fund are recorded. For example, if James Bond invested through the James Bond Trust and Bond Family I LLC, then the name of the corresponding Investment Vehicle accounts would be the ‘James Bond Trust’ and ‘Bond Family I LLC’.
Advisor Overview
Advisor is an account type for those contacts that are related to multiple Investors but represent a third party, like a tax consultant. For example, if Francis Underwood from Underwood Consulting is listed asa contact by multiple Investment Vehicles, like by the James Bond Trust and the Jason Bourne FamilyFoundation, then the name of the corresponding Advisor account would be ‘Underwood Consulting’.
Creating the Investor
1. To create a new Investor account, click on Investor Relations (1) > Investor tab (2) > New Account (3).
Note the other tabs for Investment Vehicles and Advisors next to the Investor tab. An account of any type can be created from any of these tabs, however navigating to the appropriate tab before creating the account will automatically select the appropriate Account Type for you.
2. From the drop‐down picklist, select the Investor record type and Press Continue.
3. Complete the required fields as follows and click Save:
a. Enter the Investor name in the Account Name field.
b. Press Save
Creating the Investment Vehicle
1. IMPORTANT NOTE: Before setting up an Investment Vehicle, the parent Investor account needs to already have been created (as done in the previous step). If an Investment Vehicle has no Investor account to be linked to upon creation, the software will serve up an error and not allow the account to be created.
2. To create a new Investment Vehicle account, press on Investor Relations > Investment Vehicles tab >New Account
3. From the drop‐down picklist, select the Investment Vehicle record type and click Continue.
4. Complete the required fields as follows and press Save:
a. Enter the Investment Vehicle name in the Account Name field.
b. Enter the related Investor account name by clicking on the magnifying glass and using the Lookup pop‐up window to search for the Investor account.
c. Press Save.
Creating the Advisor
The process for creating an Advisor is identical to creating an Investor account, with the only difference being that the 'Advisor' record type is selected.
1. To create a new Advisor account, click on Investor Relations > Advisors tab > New Account.
2. From the drop‐down picklist, select the Advisor record type and click Continue.
3. Complete the required fields as follows and click Save:
a. Enter the Advisor name in the Account Name field.
b. Press Save.
