Enabling the Pershing Integration

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Overview

Our integration with Pershing allows draft accounts in Pershing systems to be opened directly from within Practifi. The integration initiates the opening of the draft account, which must be reviewed and completed in the Pershing’s NetX360 Advisor Portal after formalities with the end-client, such as review and signing of document or the completion of necessary details required for the account, are concluded. The integration informs the Practifi Advisor of the status of the account opening as either in Draft or Opened status.

In this implementation, Contact information is passed into Pershing to open a Draft Account and Practifi monitors the status of the Draft Account process and shows its status (In Draft, or Opened) and the Account Type.

This article outlines the steps to enable the Pershing integration within your organization and any considerations around the integration. For more information about the Pershing integration, please consult our Using the Pershing Integration article. 

**Note: This content is intended for system administrators and is technical in nature. Please discuss your integration installation plans with your Practifi Customer Support Team for their assistance.*

Before You Begin

This section outlines the information you will need to know before beginning the installation and enablement of this integration.

Integration limitations

Before turning on this integration, please carefully assess the following limitations:

  1. This Integration will not be able to open full accounts end-to-end. Only draft accounts can be opened in Practifi with this integration. Advisors must log into Pershing NetX360 to complete the account opening.

  2. This integration cannot open more than one account in the same transaction. For instance, it cannot support opening multiple accounts for the same household at one time. These will need to be handled as separate transactions.

What you will need to do 

To begin the integration process, the Practifi customer (advisor firm) must engage with their Pershing Account Executive and inform them that they wish to integrate their Practifi system with Pershing. In particular, the customer needs to request to authorize the Open and update accounts APIs to be accessed by Practifi on their behalf.

The following information must be obtained from Pershing and supplied to Practifi:

  • correspondentNumber - Firm (introducing broker-dealer or IBD) number
  • officeNumber - Office number (there could be multiple office numbers per firm)
  • rrCode - Advisor (investment professional, IP or registered representative) number, one for each

Presently, to complete the implementation of the Pershing Integration your Customer Success team will need to install some final screen elements on your system. This will be done during the setup and activation stage of your integration and is a once-off operation.

What Practifi will do for you 

Practifi Custom Support will complete the following certificate signing process on behalf of each customer:

  1. Generate a Certificate Signing Request (CSR) outside of Salesforce: use OpenSSL to generate a private key and CSR, to meet the Subject Alternative Name (SAN) requirement.

  2. Email the CSR to Pershing to get signed.

  3. Pershing will review the CSR and if approved, Pershing will email back a signed certificate. 

  4. Upload the signed certificate into Salesforce: The signed certificate (.cer file) from Pershing has to be combined with the Private key from step 1 to create the jsk file to upload into the client's Salesforce org. 

  5. Separately, a PLINK ID will be issued and emailed by Pershing to Practifi for this customer's advisor firm. Please note that a PLINK ID is issued per firm for the shared API entitlements across that firm.
  6. Repeat this process twice: at first for the Pershing QA Environment; then repeat for the Pershing Production Environment once testing is completed.

To complete the configuration, the customer must supply (as issued by Pershing) to Practifi the following details for their firm:

  • correspondentNumber - Firm (introducing broker-dealer or IBD) number
  • officeNumber - Office number (there could be multiple office numbers per firm)
  • rrCode - Advisor (investment professional, IP or registered representative) number, one for each

Installation

Enabling and installing the Pershing integration with Practifi requires setting up the following configurations:

Configuration

Location

Upload Authentication Certificate

Salesforce Settings

Create Named Credential

Salesforce Settings

Create Remote Site

Salesforce Settings

Apply Advisor's rrCode information

Salesforce Settings

Modify Custom Settings

Salesforce Settings

Schedule sync jobs

Salesforce Settings

Add Pershing office numbers

Salesforce Object Picklist update

Assign permission sets

Part of code install


Upload Authentication Certificate

One authentication certificate needs to be uploaded and this is a certificate that Practifi generates and requests Pershing to sign (see Before you begin, above). The signed certificate is held in Practifi's Keystore and is requested by Practifi from Pershing.

  1. Once the certificate has been received from Pershing, navigate to Salesforce Setup under the wheel-cog icon in the top right corner. 
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  2. In Salesforce Setup, use the Quick Find search bar to search for and select Certificate and Key Management.
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  3. Select the Import from Keystore button.
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  4. Select the name of the certificate received from Pershing. The Keystore file for production access to the Pershing system for the customer will have already been received by Practifi for installation. Its details, including the password, are held in Bitbucketmceclip2.png
  5. Once this information has been selected, click Save.

Create Named Credential

  1. In Salesforce Setup, use the Quick Find search bar to search for and select Named Credentials.
  2. Select the New Named Credential button.mceclip3.png
  3. Supply the following information:
    • Label - We suggest entering Pershing_ Prod
    • Name - Leave this as the default value
    • URL - <Production URL TBA>
    • Identity Type - Named Principal
    • Authentication Protocol - Password Authentication
    • Username - <Production credential TBA>
    • Password - <Production credential TBA>
    • Generate Authorization Header - Checked
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Create Remote Sites

The Pershing Remote Site reference is set up individually within each Client Organization.

  1. In Salesforce Setup, use the Quick Find search bar to search for and select Remote Site.
  2. Select the New Remote Site button.mceclip5.png
  3. Supply the following information:
    • Remote Site Name - We suggest entering Pershing_Prod
    • Remote Site URL - <Production URL TBA>mceclip6.png
  4. Once this information has been entered, select the Save button.

 

Apply Advisor's rrCode information

This step requires the Advisor or their IT System representative to go to the Advanced User Details section of their Salesforce Settings.  

  1. Every Advisor will be allocated by Pershing a "rrCode", which is included as part of the draft account setup process. This value is added to the Edit Team Member panel.
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  2. Select the Edit button to enable editing of the user's advanced details.
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  3. The Pershing rrCode field will display. Enter the Advisor's rrCode into this field.
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  4. Select the Save at the bottom right once this information is entered. Each Advisor can apply this update to their own profiles. 

In the event this value is not set, or is not valid when the Advisor tries to create a Pershing account the following message will display:

 mceclip6.png

Modify Custom Settings

Another set of data required relates to some defaults for opening a Draft Account. These are set in a Custom Object in Salesforce Setup.

  1. Locate the Pershing Integration Settings in Custom Settings in Salesforce Setup.
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  2. Select Manage, then select the Edit button.
  3. Supply the following information:
    • Correspondent Number -  3CR, Issued by Pershing for the firm
    • Credentials - The name of the Named Credential created earlier
    • Draft Acct Open Srce Code - PCOB
    • Enabled - Checked 
    • Base URL - <Production URL TBA>
    • Request Per Batch - 20
    • Verbose Logging - Leave unchecked. Otherwise, the integration log will become quite long after normal usage. This is intended for problem diagnosis.
    • Expired Draft Account Cleanup Duration - 90 (days)
      • Please note: If a Draft Account request has been left as a draft for this number of days, it will be deleted from the Pershing Accounts list of Accounts.  This matches Pershing’s time limits for the conversion of a Draft Account to a Full Account.
    • Draft Status - UNKN
    • User Id - <the PLINK supplied by Pershing>
      mceclip0.png

Schedule sync jobs

  1. Go to the Quick Find search bar in Salesforce Setup and search for and select Apex Classes.
  2. Select the Schedule Apex button.
    mceclip16.png
  3. Look up Pershing_ScheduleSync and select this as the Apex Class. Apply the required schedule, bearing in mind the end-of-day completion jobs on the Pershing system.
    mceclip17.png
  4. Once this has been set, select Save.

Add Pershing office numbers 

Add the list of office numbers assigned to the Advisor firm by Pershing to the list of valid office numbers for this customer. Office numbers are listed as a picklist on the practifi__Pershing_Account__c object, under the practifi__Office_Number__c picklist field.

  1. Using Object Manager in Salesforce Setup, navigate to the Pershing Account object.
    mceclip1.png
  2. Navigate to Fields and Relationships, and then select the Office Number field.
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  3. Locate the Values section and add the required Office Numbers using the New button.
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  4. When these values are added, select Save to finalize their addition.  

Assign permission sets

Assign the Practifi - Pershing permission sets to the users who need access to the Pershing Integration.

  1. Navigate to Salesforce Setup, and search and select Permission Sets.
  2. Select the Practifi - Pershing permission set from the list of permission sets. This row will already be present.
    mceclip0.png

  3. Select the Manage Assignments button.mceclip1.png
  4. Then select the Add Assignment button.
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  5. Select the users that should have access to the integration and then select Assign.


Access to Pershing integration will allow the users to see a list of Pershing Accounts on the integrations page and the Sync Pershing Accounts button on this page.

Please note:  If Pershing is the only integration added to the Practifi system then the choice of Pershing as a dropdown choice on the Integrations tab will not appear. The Pershing accounts will appear immediately on the mapping panel without needing to specifically select Pershing.
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Users with this permission set will also be able to view the Open Pershing Draft Account button located on the client entity page in the record side panel.
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Contact Field Mapping

Pershing Contact Information

The following information is passed in one block to Pershing for the opening of a Draft Account:

  • Primary Account Holder [from Contact, must be one]
  • Additional Account Holders [from Contact, none to many]
  • Address(es) of Primary Account Holder [from Account, none to two]
  • Address(es) of each Additional Account Holders [from Account, none to two]
  • Phone number(s) of Primary Account Holder [from Contact, none to all of Work, Home, Mobile]
  • Phone Number(s) of each Additional Account Holders [from Contact, none to all of Work, Home, Mobile]

Mapping

The following table shows the mapping of Practifi UI fields to Pershing.

Practifi UI field

From

Direction

Pershing Form field

Note

First Name

Contact

🠞

First Name

For the Primary Account Holder

Last Name

Contact

🠞

Last Name

For the Primary Account Holder

Postal Street

Account

🠞

Address Line 1 (Account)

For the Primary Account Holder

Postal City

Account

🠞

City (Mailing)

For the Primary Account Holder

Postal Postcode

Account

🠞

ZIP/Postal Code (Mailing)

For the Primary Account Holder

Postal State

Account

🠞

State/Province (Mailing)

For the Primary Account Holder

Postal Country

Account

🠞

Country (Mailing)

For the Primary Account Holder

Location Street

Account

🠞

Address Line 1 (Legal)

For the Primary Account Holder

Location City

Account

🠞

City (Legal)

For the Primary Account Holder

Location Postcode

Account

🠞

ZIP/Postal Code (Legal)

For the Primary Account Holder

Location State

Account

🠞

State/Province (Legal)

For the Primary Account Holder.  If the Country is CA or US, 2 letters required

Location Country

Account

🠞

Country (Legal)

For the Primary Account Holder.  Hardcoded to US presently.

Gender

Contact

🠞

Gender

For the Primary Account Holder

First Name

Contact

🠞

First Name

For each Additional Account Holder

Last Name

Contact

🠞

Last Name

For each Additional Account Holder

Postal Street

Account

🠞

Address Line 1 (Mailing)

For each Additional Account Holder

Postal City

Account

🠞

City (Mailing)

For each Additional Account Holder

Postal Postcode

Account

🠞

ZIP/Postal Code (Mailing)

For each Additional Account Holder

Postal State

Account

🠞

State/Province (Mailing)

For each Additional Account Holder

Postal Country

Account

🠞

Country (Mailing)

For each Additional Account Holder

Location Street

Account

🠞

Address Line 1 (Legal)

For each Additional Account Holder

Location City

Account

🠞

City (Legal)

For each Additional Account Holder

Location Postcode

Account

🠞

ZIP/Postal Code (Legal)

For each Additional Account Holder

Location State

Account

🠞

State/Province (Legal)

For each Additional Account Holder.  If the Country is CA or US, 2 letters required

Location Country

Account

🠞

Country (Legal)

For each Additional Account Holder. Hardcoded to US presently.

Gender

Contact

🠞

Gender

For each Additional Account Holder

Home

Contact

🠞

Home

For each Primary and Additional Account Holders, up to three for each.

Mobile

Contact

🠞

Cell

For each Primary and Additional Account Holders, up to three for each.

Work

Contact

🠞

Work

For each Primary and Additional Account Holders, up to three for each.

 

 

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