Users are now able to add an entity sub-type, specific to Jurisdiction/Country of Incorporation, in WealthWorks+. This is a video tutorial showing how to manage and maintain those, and includes:
- How to add a new Jurisdiction-specific Entity Sub Type
- Edit an existing Jurisdiction-specific Entity Sub Type
- Delete any unused Jurisdiction-specific Entity Sub Types
- Add/amend a Jurisdiction-specific Entity Sub Type on an existing/new entity
Tutorial Transcript
Entity Sub Types are now defined by the Jurisdiction or Country of Incorporation. To manage the Entity Sub Types by jurisdiction click on Options, then Data Configuration and select Maintain Lists. From the drop-down menu, select the relevant Entity Sub Type (<entity type>). All existing sub types will be assigned 'All Countries'. If you only require one global list, you do not need to make any changes.
(00:40) To add new Entity Sub Types, click on the Add icon. Select the jurisdiction it is specific to, or select All Countries for a global option. Enter the sub type and click Save
(00:55) If you want to restrict and existing Entity Sub Type to a specific country click directly on the entry you want to edit and select the relevant country from the list. When you click out of the field again, the entry will automatically update.
(01:13) The Usage column indicated the number of entities already assigned to each Entity Sub Type. If you want to remove any unused entries, click the Actions button, select Delete, then Delete again.
(01:26) If an existing entity has been assigned an Entity Sub Type which is now restricted to a specific country, the next time the entity administration details are edited you will need to make a new selection to set the sub type.
(01:42) The entity onboarding will also only display entries set to All Countries and those relevant to the jurisdiction of the entity.
This tutorial is confirmed to be applicable from WealthWorks+ release 4.10.