Partners and Master Partners

Partnership Reporting - Partners and Master Partners

Partnership Reporting within Wealth Passport provides a means to aggregate and track Family Limited Partnerships. Individual participant accounts can be set up so that partners can see their portion of the underlying assets in conjunction with their own direct holdings. This allows partners to accurately assess their specific asset allocation as well as relative exposure to any one investment.

Accessing Partnership Reporting:

Partnership Reporting can be found under the Account Utilities tab.

Hover over the Account Utilities tab on the main navigation bar.
Click the Partnership Reporting link in the drop-down menu.

Create a Master Partnership:

Select Create Master Partnership in the Select Action drop-down menu.
Select the appropriate Consolidation.
Enter the Master Partnership Name.
Enter a Start Date.
Click the Save button.

Tip:

Consolidations must be created prior to being used in the creation of a Master Partnership.
If necessary, go to the Consolidation List found on the Reporting tab to create a consolidation of the account(s) that represent the Master Partnership.
The Start Date entered for Master Partnership must be prior to the As Of Date for posted transactions and ownership percentages.

Create a Partner

Each Partnership Interest Account is assigned to a Partner. Creating a Partner enables consistency in partner level data, such as tax id, address, etc…

To create a Partner:

Select View Partner List from Select Action drop-down menu. (From Partnership Interest List or from Master Partnership List).
Select Create Partnership Interest from Select Action drop-down menu in the Master Partnership List.
Select Create Partner. (From Partner List page, or from Create Partnership Interest Account page).

Notes:

Partner Name and Partner ID are required fields. Partner ID will be auto-generated but it is editable.

Enter the appropriate information.
Click the Next button.
Click the Confirm button.

View Partners

To view a list of partners, select View Partner List from the Select Action drop-down menu: (From Partnership Interest List or from Master Partnership List).

Edit, Delete Partners

To edit a partner, select Edit Partner from the Action column drop-down menu on the Partner List page, or click the Partner Name.
To delete a partner, select Delete Partner from the Action column drop-down menu, or click the Partner Name.

Notes:

If a Partner is mapped to a Partnership Interest Account, the mapping must first be removed before the Partner can be deleted.

Partnership Interest Accounts

Partnership Transactions

Account Utilities