Setting up the integration:
Setup for the Redtail CRM integration with Orion Portfolio Solutions is handled in the same way as setup for Orion Advisor Technology.
To enable the integration with Orion Portfolio Solutions, you'll need to enable the Orion integration within your database. General instructions for enabling integrations can be found here.
After enabling the integration, each Redtail CRM user that needs access to Orion Portfolio Solutions within Redtail CRM will need to choose Settings from the gear icon for Orion in that same area (on Manage Your Integrations page in Redtail):
After clicking Settings, they will then see the below:
Click "Authorize Access to Orion" and then enter your Orion credentials and click "Sign In":
You will then see the following:
Once these steps have been completed, go back to your Manage Integrations page in Redtail and click the Settings option for Orion again. You'll see the below:
Place a check in the box here that says "Enable 2 way sync with Orion Advisor" and click save.
The integration with Orion Portfolio Solutions will then be established with Redtail CRM.
Note: if you have access to any of the other components mentioned in the Orion Advisor Technology post via Orion already, they will also be available to you via Redtail after you've set up the integration between the two solutions as outlined above.
Once this integration has been established, you'll then have the ability to create a new proposal or open a new account in Orion Portfolio Solutions from within Redtail CRM.
Note — this functionality can be kicked off from two different places within Redtail:
1. When adding an Individual Contact Record to Redtail CRM, you'll see an "Orion Proposal" button at the bottom of the screen that you can click when you've added all of the individual's information that you wanted to add:
The new Contact Record will save when you click the "Orion Proposal" button but you will be taken to the first screen of the Proposal process rather than to their Contact Overview.
2. From the overview page of a Contact Record in Redtail CRM, if you click the "Proposals" tab you'll then see a "new proposal" button you can click to begin the process:
Create New Proposal or Open New Account
Important Note: The initial steps of creating a new account are the exact same steps when generating a new proposal. Follow the path below that applies to your scenario. If some of the features or layout look a little different, not to worry! Your environment might have a slightly different configuration, based on your firm's needs. Core functionality should work as described.
Account Info Step
Your first screen after clicking either the Orion Proposal or new proposal button is the Account Info tab of the process, which will look similar to the below:
You can either click the "Import from Redtail" link here and search for the household whose information you'd like to import here or you can manually add information in the provided fields.
Note that beneath the other fields on display above you'll find an optional "+Add Additional Member" button you can use to include an additional account owner.
When done adding information and any additional members, click the Next Step button:
Investor Goals Step
On this next tab, you can click on any of the available goals to complete the workflow for the client's financial plan:
Personal Finances Step
Here, you can review accounts linked in Orion Planning > Profile > Accounts. If this client does not have any information in the location listed above, this step will be blank:
Select a questionnaire to complete it on the client's behalf or send it directly to the client to fill out by selecting Email Questionaire(s) to Client.
- Check the "I would like to impose a score" box to manually enter a risk score
- Complete the questions for the system to generate a score based on your responses. If this questionnaire is completed, the questions and answers appear on the Risk Questionnaire page of the proposal report (if that page is included).
Please Note: Based on your firm level settings, a risk score may or may not be required before proceeding to the next step.
Proposed Accounts Step
- Click the Add button and enter the following information for the proposed/new account:
- Account Type
- Registration Owner
- Estimated Investment Amount
- Advisory fees for the account
- Then, click the "Set Allocation" button to establish how to invest the account once it is funded.
Set Allocation and Assign Models
- Click the "Add Models" button to review all available strategists' models and their associated risk scores.
- Check the box next to each model you would like to assign > Add Models.
- Enter the lower and upper tolerance bands and assign a target allocation percentage for each model.
- If this account is fully or partially self directed, click Self Directed to allocate the account towards specific funds.
- All percentages must equal 100%.
- Use the "Client Notes" button in the top right corner of the page to add internal notes.
- Click the and select Save Allocations to Favorites if you would like to save this strategy and assign it to future accounts.
- After saving this allocation, Load Models will display your saved allocations and will allow you to apply those to the account within this page.
- Click to add a model you added to your Favorites, an Overlay Model, or a Sleeve Strategy Aggregate
- Select the model you would like to assign > OK
View Risk Results
- Each model and security has an individual risk score. The scores are aggregated together under Portfolio Risk.
- In the chart, the shaded purple bar represents the assigned risk range and the pink pin represents the value of the aggregated risk result.
- In this example, the Target Risk score that was entered on the Questionnaires step is 83, the Risk Range is Growth 81-100, and the combined risk score is 81.
- The Returns + Risk and Risk Stats sections provide an instant look into the potential risk and reward of the blend of the proposed account. These metrics are based on test scenarios that are established in Orion Risk Intelligence.
Click the Compare Existing to Proposed Accounts tab towards the upper left corner of the page to compare the proposed account against one of the client's existing accounts:
- Then, click the Select an account dropdown under Existing
- Choose an account or click + Add a manual account
- Use the Allocation & Holdings Comparison, Risk Comparison, and Stress Test Comparison tabs to compare holdings and risk metrics against both accounts.
Once all account information is complete, click in the bottom right corner of the page, and then Next Step.
- To build the proposal report, select a template from the dropdown menu.
- Then, select the specific pages to include in the report and organize them.
- To add a page, click the next to each document on the left side of the page.
- To remove a page, click the next to each document on the right side of the page.
- Click and hold the to the left of a page to drag and drop the order of the items in the report.
- Once all pages are selected, click to save a copy and provide it to the client, or click to email them a copy.
- To save the selected forms for future client proposals, click .
Then, go to the next step.
- Click Owner Details to enter the client’s personal and employment information.
- It is best practice to complete as much of this information as possible during this step. However, if some information is not available at the time of completing this step, you may proceed without it.
- Paperwork completed in Docusign by the client requires missing information to be completed.
- Once you finish filling out the information on this page, click Save in the bottom left corner.
- Click Next Step.
Account Setup Step
- Click Setup Account. Depending on the type of the account, different information is needed, such as funding information, beneficiaries, decedents, trusts, entities, or a control person.
- Funding Options:
- Add Bank Transfer: Generate an Electronic Funds Transfer form to move funds from a client’s bank account
- Add Investment Account: Allows you to include the client’s transfer from an existing account to the new account
- Standing Instructions: Allows the client to add bank information for future transactions.
- Enter the applicable account and institution information.
- Click Save, and then Next Step.
The last step displays a summary of the assets and the new account opening at the custodian.
You'll find three options when you click the "Go to" button in the Actions column toward the bottom right of the page, allowing you to review and begin signature process for your new account, refresh status, and/or preview your paperwork:
Orion Portfolio Solutions resources: