Individuals are the entity type used within Practifi to denote individual persons included in financial planning services offered by the Advisor. They can be created automatically by integrating with an external management service, like a Portfolio Management System, or manually in your Practifi organization. This article outlines the steps for creating an Individual manually within your Practifi organization. For additional information about Individual records, please consult our Understanding Households, Organizations and Individuals article.
Creating an Individual is available in Practifi as one of the actions available under the Global Actions menu in the top-right corner of Practifi. This option is available among multiple other types of Global Actions in this drop-down menu. After selecting the Global Actions icon, select the Create an Individual option to begin the creation process.
Upon selection, a panel will appear on the lower-right of the screen. Complete the fields as listed, noting the mandatory sections designated with a red star beside the field name.
Once the Individual's information has been entered, select Save to finalize the creation process. A small success message will appear when the individual has been created.
Promoting to a Prospect or Client
At this point, the Individual is simply a record in Practifi, which can be used for marketing and presales work, and is not a Prospect or a Client. To convert the Individual to one of these statuses, locate the Individual using the Directory record page.
Once on the record, select the Actions menu on the record side panel and select Promote to Prospect from the drop-down menu. Complete service information in the pop-up promotion wizard. Once promoted to a prospect, the Actions menu can be reselected to select Promote to Client from this drop-down.
An Individual can also be added to a Household as a new member or to an Organization, by using the Add to Household and Add to Organization options in the Actions menu.