Introduction
You can organise your client list of funds or portfolios by setting up tags. Tags work like folders but you can add more than one tag to a client. This provides an additional sort and search functionality to filters, where filters allow you to search and group clients by pre-defined categories. Because tags are user-defined, you can add any word that helps you identify the client or group of clients. For setting up tags please click here.
Why use Tags
Efficient workflow – Once you login to Class and you choose your tag/s, Class will remember your selections across multiple business level consoles, enabling you to process a lot quicker.
Speed – Using tags will improve the speed of loading various consoles especially for the Members and Feeds consoles which can contain large amounts of data.
Resource allocation – Using tags can help staff members target their time to specific clients. This helps staff dedicate more time processing funds of your VIP clients and can potentially replace the need for timesheets.
Implementation Tool – Temporary tags can be used to assist you through the busy implementation period to make the data feed activation process easier. By tagging Portfolios that have an Adviser feed or the portfolios that had data feeds in the previous administration system, the set up of these feeds can be prioritised.
Suitable Tags
Examples of tags to set up:
- Agreed processing timeframe – Daily, Weekly, Monthly, Annually
- Responsible person - Accountant, Administrator, Adviser, Staff Member, Business Unit
- Relationship owner - Partner 1, Partner 2, Partner 3
- Trustee access – Clientview, 100% Data Feed
- Fund status – First Year, Winding Up, Audit Ready
- Investment types – LRBA, Foreign, Equity Lever, Options
- Tax status – Annual GST, PAYGW, Centrelink Reporting
- Feed type - Adviser Level, Account Level
How filters interact with Tags
Tags should not be used where a filter category is already available. Filters are more powerful than tags as they are based on a characteristic rather than just a description. Examples of filters currently in Class for which it is not advisable to create a tag category include; contribution and pension details, member balance amounts, fund pension status and member’s pension types.