Managing Clients

This chapter provides an overview of PeopleSoft Enterprise Client Management and discusses how to manage clients.

Understanding Client Management

Each of the clients that a financial institution manages is stored in the Person component in PeopleSoft's Customer Data Model. The client is stored as a person with the role of consumer. An FA can quickly navigate to additional information that provides a holistic view of the client , including a relationship overview, contact summary, key product holdings or services, and additional opportunities associated with the clients.

Clients belong to a household. As of PeopleSoft Enterprise CRM 8.9, a new business object, Household, has been created to fulfill the business requirements of the client management business process.

Person

PeopleSoft Enterprise Client Management relies on the Person component.

See PeopleSoft Enterprise CRM 8.9 Application Fundamentals PeopleBook.

Relationships

Household, family, business and other relationships characterize the extent to which a client is an influence of the other people who may be sources of revenue to the enterprise.

Relationships are displayed in two places in PeopleSoft Enterprise Client Management: the Client Summary page and the Relationships tab on the Person page. To accommodate PeopleSoft Enterprise Client Management's household needs, the relationships must be given a classification. Relationships contained within a household are different than other relationships, as not only is the client related to the other household members, but also each household member is related to one another. FA's are able to view a detailed account of all the relationships a client has by classification (household, family business) and role (husband, wife, child, attorney, and so on). Contact information for each relationship is displayed, making it simple for an FA to bring up a list of all individuals that the client influences. Also displayed is the rolled up total of enterprise products held by each individual.

Household

Relationships in the Household category are unique to other relationships. The client is related to all the other household members, and they are all related to one another.

See Also

Managing Households

Risk Summary

PeopleSoft provides the ability to identify clients at risk, marking clients if no activity has occurred over a period of time, or after a change in the advisor assigned to the account. The solution also provides the ability to create and manage a recovery plan for clients at risk.

Clients at Risk

Clients at risk are persons that may pull their money from your financial institution. A client at risk can be defined manually or automatically based on pre-defined business rules. Every time a client is determined to be a risk, a recovery team and recovery plan will automatically be assigned. The risk history of each client is tracked. The Risk Summary page displays the date the customer was flagged at risk, the reason they were flagged at risk, and the current status of that risk event. Also shown is the recovery plan, the members of the recovery team, and notes about the client.

Financial Advisor Termination

PeopleSoft provides one business rule to automatically flag a client at risk . When an FA is terminated for a particular client, that client is automatically flagged at risk using the Active Analytics Framework. Termination of the FA is determined by the change in the Employee Status field on the Worker component. Once the client is flagged at risk, notification is sent to the members of the original account team, and then to the newly created risk recovery team.

See Delivered Active Analytics Framework System Data for PeopleSoft CRM Applications.

Warning! PeopleSoft Enterprise CRM only creates Client at Risk records if the user connected to the database has a person assigned to them. This condition must be met in order to create a Client at Risk record when the worker status is terminated or retired. It is only when the user connected to PeopleSoft Enterprise CRM has a person assigned to them, that the WORKFORCE_SYNC EIP is initiated, thereby creating a Client at Risk record.

See Also

Managing Clients at Risk

Workforce Management

Products

Holdings, financial accounts, balance sheets, and products of interest are displayed on the Products page. Account balances and revenue are updated using a real-time integration with the legacy system. The customer is responsible for creating an inbound asynchronous message for this update to take place. Product holdings are displayed in a pie chart that shows how the assets currently under management are invested by asset class. Additionally, a grid displays the information represented on the pie chart, but in more detail. The grid includes the percentage each asset class comprises of the total portfolio and the cumulative value of each asset class. Also shown is the top holdings for the client. Asset class, equity symbol, a description of the holding, the number of shares, and the current value of those shares are also displayed.

Holdings are products that a client has under management with a particular financial institution, whether it be the institution the FA represents, or elsewhere.

It is essential that an FA know the total net worth of each of their clients, which includes both assets and liabilities. This information is displayed on a balance sheet.

Products of Interest

Get access to any product that the client has expressed interest in, but does not yet have as part of their product holdings. This capability can also be used to help calculate additional upside potential to the customer's value. Products of interest can be products the client is tracking, as well as products that are recommended by the financial advisor. Using Products of Interest functionality, the FA will be able to track: product description, dollar amount interested in, level of interest, and comments regarding the interest. This information is used to help the FA understand the desires of the client. When there is an opportunity to share information regarding a specific product, the FA can get a complete call list of their customers that have expressed interest in a particular product, and begin making calls to these customers to generate fees.

See Also

Managing Products of Interest

Referrals

A referral is a type of lead. Referral management is the process within a financial services organization used to track referrals of new and existing customers. It is in the best interest of the Financial Advisor to track referrals of new customers and existing customers to other lines of business. Referral management gives the Financial Advisor the opportunity to follow up on any referral, whether it means calling a potential client, or calling the person in a different line of business that the FA referred this person to. The Referral page is reached by selecting the “Referral” tab on the client summary, providing the FA with a one-click way to record a referral, either referring his client to another financial services professional for assistance, or recording a referral from the client.

If the referred person already exists in the CDM, the name, address, and email is automatically populated. If the person does not exist, a new entry is created in the CDM to act as a link from the Referral component to the Person record. A referral is a row in the Lead table, RSF_LEAD with REFERRAL_FLG = 'Y.'

When a referral is created, it's automatically assigned to the functional analyst based on the assignment engine used by the sales organization. Assignment criterion typically include product type and geographical location. After the referral is assigned, an FA is determined based on the sales territory hierarchy. The person referring the client is added as a member of the lead team so that they can track the progress of the referral. Once the referral is assigned to an FA, that FA has the option of either accepting or rejecting it. Notification is sent to the FA upon the assignment and acceptance of the referral using PeopleSoft's Active Analytics Framework (AAF). Pre-defined business rules are delivered with AAF that notify the referral source if the referral is not assigned or is rejected within a set period of time.

Opportunities

Referrals are converted into opportunities.

Account Team

By default, all members of the account team are added to the recovery team.

Tasks

Reports

A financial advisor has the ability to create two types of reports: Taxi Cab report and a Touch Summary report (Call Report). The Taxi Cab report allows financial advisors to bring a hard copy of client information into meetings, or wherever they may be helpful. A Touch Summary report summarized the contact and interaction a Financial Advisor had with their client over a specific amount of time.

Plans

The client investment plan page allows the financial advisor to work with his client to establish the client's investment goals and plans of action to achieve those goals.

See PeopleSoft Enterprise Strategic Account Planning 8.9 PeopleBook.

Working with and Maintaining Clients

This section discusses the pages used to manage clients.

See PeopleSoft Enterprise CRM 8.9 Application Fundamentals PeopleBook.

Pages Used to Manage Clients

Page Name	Object Name	Navigation	Usage
Client Summary	RBW_CLIENT_SUMMARY	Customers CRM, Add Client Customers CRM, Search Clients	Search for an existing client, or add a new client.
Relationships	RBW_BO_REL	Customers CRM, Add Client, Client Summary, Relationships	View all relationships for a client.
Risk Summary	RBW_RISK_SUMMARY	Customers CRM, Add Client, Client Summary, Risk Summary	View the risk history for a client.
Products	RBW_PRODUCT	Customers CRM, Add Client, Client Summary, Products	View all accounts held by a client.
Products-Accounts	RBW_PRODUCT	Customers CRM, Add Client, Client Summary, Products, Accounts	View all the financial accounts a client has under management at that financial institution.
Products-Balance Sheet	RBW_PRODUCT	Customers CRM, Add Client, Client Summary, Products, Balance Sheet	View all asset and liability information for a particular client.
Products-Products of Interest	RBW_PRODUCT	Customers CRM, Add Client, Client Summary, Products, Products of Interest	View all the products the client is currently interested in.
Referrals	RBW_PRSN_REFERRAL	Customers CRM, Add Client, Client Summary, Referrals	View and work employee and customer referrals.
Opportunities	RBW_PRSN_OPP	Customers CRM, Add Client, Client Summary, Opportunities	See Managing Sales Leads and Opportunities.
Account Team	RD_ACCOUNT_TEAM	Customers CRM, Add Client, Client Summary, Account Team	View the individual members of the account team.
Tasks	RD_TASK_LIST	Customers CRM, Add Client, Client Summary, Tasks	Lists the tasks a financial advisor must complete.
Call Reports	RD_PRSN_CALL_RPTS	Customers CRM, Add Client, Client Summary, Call Reports	Create Touch Summary and Taxicab reports.
Plans	RD_ACCOUNT_PLAN	Customers CRM, Add Client, Client Summary, Plans	Create future financial plans and recommendations for the client.
Notes	RD_NOTES	Customers CRM, Add Client, Client Summary, Notes	View and add notes. See Working with Notes and Attachments.
Address Book-Addresses	RD_PRSN_ADDR_BOOKS	Customers CRM, Add Client, Client Summary, Address Book, Addresses	See PeopleSoft Enterprise CRM 8.9 Application Fundamentals PeopleBook.
Address Book-Contacts	RD_PRSN_ADDR_BOOKS	Customers CRM, Add Client, Client Summary, Address Book, Contacts	See PeopleSoft Enterprise CRM 8.9 Application Fundamentals PeopleBook.
More Info	RD_PROFILE	Customers CRM, Add Client, Client Summary, More Info	See PeopleSoft Enterprise CRM 8.9 Application Fundamentals PeopleBook.
Attributes	RD_PERSON_ATTR	Customers CRM, Add Client, Client Summary, Attributes	Note and track attributes of the customer, such as Personal Interests and Churn Score.

Viewing Client Summary Information

Access the Client Summary page.

Financial Summary

Holdings	Total holding value of a client.
Products of Interest	Total product of interest amount.
Household Value	Total household holding of a client.
Wallet Share	Percent of total assets is in the assets under management.
Number of Referrals	Total referral count of a client

Maintaining Relationships

Access the Relationships page.

Relation

Displays the relationships among persons.

Viewing Risk Summary Information

Access the Risk Summary page.

To access the Client at Risk page, select a risk reason from the risk summary list.

Risk Reason

Reason the client is considered a risk.

See Managing Clients at Risk.

Maintaining Product Information

Access the Products page.

The Products page displays information as a pie chart. Grids are included to access more detailed information.

Products - Accounts

Access the Products - Accounts page by clicking the Accounts link.

Registration Name

Name given to the financial account.

Products - Balance Sheet

Access the Products - Balance Sheet page by clicking the Balance Sheet link on the Products page.

Category

Indicates whether the holding is an asset or a liability.

Value

Total value of the client.

Products - Products of Interest

Access the Products - Products of Interest page by selecting the Products of Interest link on the Products page.

See Managing Products of Interest.

Managing Referrals

Access the Client - Referrals page.

Select the Referrals tab on the Client page to display a list of referrals.

Referral

Access the Referral page by selecting a client from the Referrals List.

The RSF_LEAD_WM display template under the FIN market controls the RSF_LEAD_LIGHT page. The standard sales application licensed with this page will not be visible or used; only PeopleSoft Enterprise Client Management customers see this particular Referral page.

Client	Name of the person that is being referred. You can either search for a person or can quick create the newly referred client.
Added By	Person that entered the referral into the database.
Referral Source	The type of referral. Possible values are Customer Referral and Employee Referral.
Referred By	Client under management that made the referral.
Referral Name	Description to identify referral.
Referral Amount	Potential monetary value of converting this referral into a sale. The amount of business the referred person can bring to the business.
Assigned To	Person responsible for working the referral.
Primary	Product or line of business the referral is interested in.
Product	Service or product to be quoted for the referral.

Managing Opportunities

Access the Opportunities List page.

To access the Opportunities page, select an opportunity from the Opportunities List.

See Managing Sales Leads and Opportunities.

Creating Account Teams

Access the Account Team page.

Owner

This is the team leader. This person is responsible for the account.

Maintaining Call Reports

Access the Call Reports page.

To access the Call Report page, select a subject from the Call Report list.

Subject

This field provides an overview of the task.

Event Type

This indicates what type of event needs to take place to complete each task.

Creating Plans

Access the Plans page.

Plan Name

This is a label given to the plan to identify and differentiate it.

Plan Type

This is the purpose of the plan.

Defining Attributes

Access the Attributes page.

The Attributes page allows an FA to enter personal information about their clients. Personal information that may help an FA sell products and services to the client. The field labels are configurable.

Category	Indicates whether the holding is an asset or a liability.
Value	Total value of the client.

Subject	This field provides an overview of the task.
Event Type	This indicates what type of event needs to take place to complete each task.

Plan Name	This is a label given to the plan to identify and differentiate it.
Plan Type	This is the purpose of the plan.