Managing Client Bank Accounts and Cash Holdings
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--- id: KB-ACC-003 module: accounts sub_module: bank-accounts title: Managing Client Bank Accounts and Cash Holdings category: how-to applies_to: - user_type: advisor - role: financial_advisor products: - IFANOW Wealth Management Platform platform_area: clients related_workflows: - client-onboarding - asset-management - portfolio-reporting depends_on: - KB-TOK-001 - KB-STK-002 access_level: advisor source: code_extraction source_files: - repo: ifanow-futurewise files: - AccountsController.java - BankAccountService.java - BankAccountDao.java last_extracted: '2026-02-17' confidence: medium version: 1 tags: - bank accounts - cash holdings - client assets - account management - banking details - cash summary - family banking --- ``` ## Overview The bank account management feature allows financial advisors to track and manage their clients' cash holdings and bank account information within the IFANOW platform. This feature helps advisors maintain a complete picture of client liquidity, facilitate financial planning, and generate comprehensive portfolio reports that include cash positions alongside other investments. • Add new bank accounts with complete account details and current balances • Edit existing bank account information including balances and account details • Remove bank accounts that are no longer active or relevant • View consolidated lists of all client bank accounts with current values • Generate cash and bank account summaries for portfolio reporting • Access banking details for clients and their family members • Email bank account reports directly to clients ## Prerequisites and Access You need an active IFANOW advisor account with client management permissions. Clients must be properly onboarded and assigned to your advisor profile before you can manage their bank accounts. **Navigation Path:** Client Dashboard → Select Client → Assets → Bank Accounts ## How to Add a New Bank Account Add a bank account to track a client's cash holdings and account information. 1. Navigate to the client's bank accounts section 2. Click "Add Bank Account" 3. Enter the bank name, account type, and account number 4. Input the current account balance 5. Select the account ownership (individual, joint, etc.) 6. Save the account details The new bank account will appear in the client's asset list and be included in portfolio calculations. Ensure you have the client's written authorization before adding account information. ## How to Edit Bank Account Details Update existing bank account information including balances and account details. 1. Locate the bank account in the client's account list 2. Click the edit option for the specific account 3. Modify the necessary fields (balance, account details, etc.) 4. Confirm the changes are accurate 5. Save the updated information Changes will be reflected immediately in the client's portfolio summary and all related reports. ## How to Remove a Bank Account Delete a bank account that is no longer active or relevant to the client's portfolio. 1. Find the bank account to be removed in the client's account list 2. Select the delete option for that account 3. Confirm the deletion when prompted 4. Verify the account no longer appears in the client's asset summary Once deleted, the account will no longer contribute to portfolio calculations or appear in client reports. ## How to View Client Bank Account Lists Access a comprehensive view of all bank accounts for a specific client. 1. Select the client from your client dashboard 2. Navigate to the bank accounts section 3. The system will display all active bank accounts with current balances 4. Use date filters if you need to view account status as of a specific date 5. Review account totals and individual account details The list includes account names, types, balances, and last updated information for easy portfolio management. ## How to Generate Cash and Bank Summaries Create consolidated reports of client cash holdings across all bank accounts. 1. Access the client's portfolio summary section 2. Select the cash and bank summary option 3. Choose the target date for the summary 4. Review the consolidated cash position 5. Export or print the summary as needed The summary includes total cash holdings, individual account breakdowns, and percentage of total portfolio represented by cash. ## How to Email Bank Account Reports Send bank account information directly to clients via email. 1. Navigate to the client's bank account section 2. Select the email report option 3. Choose the appropriate email template 4. Review the report content before sending 5. Confirm the client's email address and send The email will include a formatted summary of the client's bank account information and current balances. ## Rules and Limits • Bank accounts are automatically classified as "real assets" (not fictitious/projected) • Only advisors with proper client hierarchy validation can access account information • Account deletions are soft deletes - the information is archived rather than permanently removed • All bank account modifications require proper advisor authentication • Date filtering is available for viewing historical account information • Family member bank details are accessible when viewing client information • Global bank data must be available in the system before adding specific accounts • Email reports can only be sent to verified client email addresses ## Common Questions **Q: Can I add bank accounts for a client's family members?** A: Yes, you can access and manage bank account details for clients and their family members from the same interface. **Q: What happens to deleted bank accounts in portfolio calculations?** A: Deleted bank accounts are immediately removed from all portfolio calculations and will not appear in future reports or summaries. **Q: Can I view bank account information as it was on a previous date?** A: Yes, you can use date filters to view account information and balances as of specific historical dates. **Q: How often should I update bank account balances?** A: Bank account balances should be updated regularly during client reviews or whenever you receive updated statements to ensure accurate portfolio reporting. **Q: Can clients see the bank account reports I generate?** A: Clients only see bank account reports when you explicitly email them using the built-in email functionality. ## Troubleshooting **Problem:** Cannot add a new bank account - system shows "bank account not added" message **Cause:** Missing required global bank data or incomplete account information **Fix:** Ensure all required fields are completed and verify that global bank data is available in the system **Problem:** Bank account list shows "retrieval failed" message **Cause:** No bank accounts exist for the client or database connectivity issues **Fix:** Verify the client has bank accounts added to their profile, or add new accounts if none exist **Problem:** Cash and bank summary shows no content **Cause:** No active bank accounts or all accounts have zero balances **Fix:** Add bank accounts with current balances or verify that existing accounts have been properly updated **Problem:** Cannot edit bank account details **Cause:** Insufficient permissions or account is locked for processing **Fix:** Verify your advisor permissions and ensure no other processes are updating the account simultaneously **Problem:** Email report fails to send **Cause:** Invalid client email address or missing email template **Fix:** Verify the client's email address is current and valid, and ensure the selected email template is available ## Related Features This feature integrates with the Token Service for authentication and security validation. It also connects to the Stock Transaction Service for comprehensive portfolio management. Bank account information feeds into overall Asset Management workflows and Portfolio Reporting functions. Family member management capabilities link to the broader Client Relationship Management system.
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--- +++ @@ -1,124 +1,145 @@ ``` -### Section 1: Overview -The bank account management feature allows advisors to track and manage their clients' cash and bank account holdings as part of their overall asset portfolio. This includes savings accounts, current accounts, and other cash deposits held across different financial institutions. The system automatically categorizes these as real client assets and provides comprehensive reporting and summary capabilities. +## Overview -Key capabilities: -• Add new bank accounts for clients with detailed account information -• Edit existing bank account details and balances +The bank account management feature allows financial advisors to track and manage their clients' cash holdings and bank account information within the IFANOW platform. This feature helps advisors maintain a complete picture of client liquidity, facilitate financial planning, and generate comprehensive portfolio reports that include cash positions alongside other investments. + +• Add new bank accounts with complete account details and current balances +• Edit existing bank account information including balances and account details • Remove bank accounts that are no longer active or relevant -• View consolidated lists of all bank accounts for a client +• View consolidated lists of all client bank accounts with current values • Generate cash and bank account summaries for portfolio reporting -• Email bank account statements and reports to clients +• Access banking details for clients and their family members +• Email bank account reports directly to clients -### Section 2: Prerequisites and Access -You need an active IFANOW advisor account with client management permissions. Navigate to the client's profile section and select the "Assets" tab, then choose "Bank Accounts" from the asset management menu. +## Prerequisites and Access -### Section 3: How-To Steps +You need an active IFANOW advisor account with client management permissions. Clients must be properly onboarded and assigned to your advisor profile before you can manage their bank accounts. + +**Navigation Path:** Client Dashboard → Select Client → Assets → Bank Accounts ## How to Add a New Bank Account -Add a bank account to track a client's cash holdings at a financial institution. -1. Click "Add Bank Account" in the client's asset section -2. Enter the bank name and account details in the form -3. Specify the account type (savings, current, etc.) -4. Enter the current balance amount -5. Add any relevant account notes or descriptions -6. Click "Save" to add the account -The system will assign a unique identifier to the account and mark it as a real client asset. You'll see a confirmation message that the bank account was successfully added. + +Add a bank account to track a client's cash holdings and account information. + +1. Navigate to the client's bank accounts section +2. Click "Add Bank Account" +3. Enter the bank name, account type, and account number +4. Input the current account balance +5. Select the account ownership (individual, joint, etc.) +6. Save the account details + +The new bank account will appear in the client's asset list and be included in portfolio calculations. Ensure you have the client's written authorization before adding account information. ## How to Edit Bank Account Details -Update existing bank account information when balances or details change. -1. Locate the bank account in the client's bank account list -2. Click the "Edit" button next to the account -3. Modify the account details, balance, or other information as needed -4. Click "Update" to save your changes -The account information will be updated immediately and reflected in all portfolio summaries. + +Update existing bank account information including balances and account details. + +1. Locate the bank account in the client's account list +2. Click the edit option for the specific account +3. Modify the necessary fields (balance, account details, etc.) +4. Confirm the changes are accurate +5. Save the updated information + +Changes will be reflected immediately in the client's portfolio summary and all related reports. ## How to Remove a Bank Account + Delete a bank account that is no longer active or relevant to the client's portfolio. -1. Find the bank account you want to remove in the client's list -2. Click the "Delete" button next to the account + +1. Find the bank account to be removed in the client's account list +2. Select the delete option for that account 3. Confirm the deletion when prompted -The account will be marked as deleted and removed from active portfolio calculations. Warning: This action cannot be undone, so ensure the account should be permanently removed. +4. Verify the account no longer appears in the client's asset summary -## How to View All Bank Accounts -Access a comprehensive list of all bank accounts for a specific client. -1. Navigate to the client's profile -2. Select the "Assets" section -3. Choose "Bank Accounts" from the asset types -4. Apply any date filters if you want to see accounts as of a specific date -The system displays all active bank accounts with current balances, account types, and bank details. The list includes validation to ensure you have proper access to view this client's information. +Once deleted, the account will no longer contribute to portfolio calculations or appear in client reports. -## How to Get Cash and Bank Summary -Generate a summary report of all cash and bank holdings for portfolio analysis. -1. Select the client whose cash summary you need -2. Choose the target date for the summary calculation -3. Click "Generate Cash Summary" -The system calculates the total value of all cash and bank accounts as of the specified date and presents it in a formatted asset summary report. +## How to View Client Bank Account Lists -## How to Email Bank Account Information -Send bank account details and summaries to clients via email. -1. Access the client's bank account section -2. Click "Email Bank Details" -3. Select or customize the HTML email template -4. Review the recipient information -5. Click "Send Email" -The system generates and sends a formatted email with the client's bank account information using the selected template. +Access a comprehensive view of all bank accounts for a specific client. -## How to View Family Bank Details -Access bank account information for a client and their family members. -1. Navigate to the client's profile -2. Select "Family Bank Details" from the bank account menu -3. Review the consolidated list of bank accounts -The system displays bank details for both the primary client and any associated family members in a single view. +1. Select the client from your client dashboard +2. Navigate to the bank accounts section +3. The system will display all active bank accounts with current balances +4. Use date filters if you need to view account status as of a specific date +5. Review account totals and individual account details -### Section 4: Rules and Limits -• All bank accounts are automatically classified as "real" client assets, not fictitious holdings -• Bank account lists require both client ID and advisor ID for security validation -• Date filters are optional when viewing bank account lists -• Email functionality requires a valid HTML template to be specified -• Family member bank details are only available for clients who have family members configured in the system -• Account deletion is permanent and cannot be reversed -• Balance updates take effect immediately across all portfolio calculations +The list includes account names, types, balances, and last updated information for easy portfolio management. -### Section 5: Common Questions +## How to Generate Cash and Bank Summaries -**Can I add multiple accounts from the same bank for one client?** -Yes, you can add multiple accounts from the same financial institution. Each account gets its own unique identifier and can have different account types and balances. +Create consolidated reports of client cash holdings across all bank accounts. -**What happens to portfolio calculations when I delete a bank account?** -When you delete a bank account, it's immediately removed from all portfolio value calculations and summary reports. The deletion is permanent and affects historical summaries going forward. +1. Access the client's portfolio summary section +2. Select the cash and bank summary option +3. Choose the target date for the summary +4. Review the consolidated cash position +5. Export or print the summary as needed -**Can I see bank accounts for a client's spouse or family members?** -Yes, if family members are configured in the client's profile, you can use the family bank details feature to view a consolidated list of bank accounts for the entire family. +The summary includes total cash holdings, individual account breakdowns, and percentage of total portfolio represented by cash. -**How often should I update bank account balances?** -Bank account balances should be updated regularly to maintain accurate portfolio summaries. The system doesn't automatically sync with banks, so manual updates are required when you receive new statements. +## How to Email Bank Account Reports -**Can I email bank account information directly to clients?** -Yes, the system includes email functionality that uses customizable HTML templates to send formatted bank account summaries and details to clients. +Send bank account information directly to clients via email. -### Section 6: Troubleshooting +1. Navigate to the client's bank account section +2. Select the email report option +3. Choose the appropriate email template +4. Review the report content before sending +5. Confirm the client's email address and send -**Problem:** "Bank account not added" message appears when trying to add a new account -**Cause:** Required account information is missing or invalid -**Fix:** Ensure all mandatory fields are completed with valid data, including bank name, account type, and balance amount +The email will include a formatted summary of the client's bank account information and current balances. -**Problem:** "Bank account list retrieval failed" error when viewing accounts -**Cause:** No bank accounts exist for the selected client or there are permission issues -**Fix:** Verify that bank accounts have been added for this client and that you have proper access permissions to view their assets +## Rules and Limits -**Problem:** Email sending fails with "Email not sent" message -**Cause:** Invalid email template or missing recipient information -**Fix:** Check that a valid HTML template is selected and the client has a valid email address in their profile +• Bank accounts are automatically classified as "real assets" (not fictitious/projected) +• Only advisors with proper client hierarchy validation can access account information +• Account deletions are soft deletes - the information is archived rather than permanently removed +• All bank account modifications require proper advisor authentication +• Date filtering is available for viewing historical account information +• Family member bank details are accessible when viewing client information +• Global bank data must be available in the system before adding specific accounts +• Email reports can only be sent to verified client email addresses -**Problem:** "Bank global data not found" when accessing bank information -**Cause:** System configuration data for banks is not properly loaded -**Fix:** Contact your system administrator to verify that bank reference data is properly configured in the system +## Common Questions -**Problem:** Cannot view family member bank details -**Cause:** No family members are configured for the selected client -**Fix:** First add family members to the client's profile, then configure their bank accounts before accessing family bank details +**Q: Can I add bank accounts for a client's family members?** +A: Yes, you can access and manage bank account details for clients and their family members from the same interface. -### Section 7: Related Features -This feature connects to the overall client asset management system and portfolio summary calculations. It depends on the token service for security validation and integrates with the email system for client communications. Bank accounts contribute to total asset valuations used in comprehensive financial planning and reporting features throughout the platform. +**Q: What happens to deleted bank accounts in portfolio calculations?** +A: Deleted bank accounts are immediately removed from all portfolio calculations and will not appear in future reports or summaries. + +**Q: Can I view bank account information as it was on a previous date?** +A: Yes, you can use date filters to view account information and balances as of specific historical dates. + +**Q: How often should I update bank account balances?** +A: Bank account balances should be updated regularly during client reviews or whenever you receive updated statements to ensure accurate portfolio reporting. + +**Q: Can clients see the bank account reports I generate?** +A: Clients only see bank account reports when you explicitly email them using the built-in email functionality. + +## Troubleshooting + +**Problem:** Cannot add a new bank account - system shows "bank account not added" message +**Cause:** Missing required global bank data or incomplete account information +**Fix:** Ensure all required fields are completed and verify that global bank data is available in the system + +**Problem:** Bank account list shows "retrieval failed" message +**Cause:** No bank accounts exist for the client or database connectivity issues +**Fix:** Verify the client has bank accounts added to their profile, or add new accounts if none exist + +**Problem:** Cash and bank summary shows no content +**Cause:** No active bank accounts or all accounts have zero balances +**Fix:** Add bank accounts with current balances or verify that existing accounts have been properly updated + +**Problem:** Cannot edit bank account details +**Cause:** Insufficient permissions or account is locked for processing +**Fix:** Verify your advisor permissions and ensure no other processes are updating the account simultaneously + +**Problem:** Email report fails to send +**Cause:** Invalid client email address or missing email template +**Fix:** Verify the client's email address is current and valid, and ensure the selected email template is available + +## Related Features + +This feature integrates with the Token Service for authentication and security validation. It also connects to the Stock Transaction Service for comprehensive portfolio management. Bank account information feeds into overall Asset Management workflows and Portfolio Reporting functions. Family member management capabilities link to the broader Client Relationship Management system.