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Changing an Account Type from AUM to Insurance or Insurance to AUM

You can change an account’s Account Type between AUM and Insurance directly from the account edit page. This is useful if an account was created with the wrong type, such as an annuity entered as AUM or an investment account entered as Insurance.

Overview

LeadCenter allows you to convert an existing financial account from AUM to Insurance, or from Insurance to AUM, without creating a new account. When you save the change, LeadCenter updates the form fields, clears values that no longer apply, and recalculates commissions or fees based on the selected account type.

How to Change an Account Type

1. Go to the Accounts page.
2. Open the account you want to update.
3. Click Edit.
4. Under Account Type, select either AUM or Insurance.
5. The form will automatically update to show the fields for the selected account type.
6. Complete any required fields.
7. Click Save.

What Happens When You Convert an Account

Relevant fields are shown automatically

When you switch the account type, LeadCenter updates the form so you only see the fields that apply to that type of account.

Fields that no longer apply are cleared on save

When you save the change, LeadCenter clears fields that do not belong to the selected account type.

• If you switch to AUM, LeadCenter clears insurance-related fields such as:
  • Insurance Company
  • Insurance Product
  • Other insurance-specific values that no longer apply
• If you switch to Insurance, LeadCenter clears AUM-related fields such as:
  • Custodian
  • AUM Product Type
  • AUM Product
  • Other AUM-specific values that no longer apply

Commission and fee calculations are updated

After you save, LeadCenter recalculates company commission, company fee, and advisor commission based on the selected account type and the product selections on the account.

Examples

Example 1: Insurance account created as AUM

If an annuity or insurance contract was entered as AUM by mistake, edit the account and change the Account Type to Insurance. Then select the correct insurance company and insurance product before saving.

Example 2: AUM account created as Insurance

If an investment account was entered as Insurance by mistake, edit the account and change the Account Type to AUM. Then select the correct custodian, AUM product type, and AUM product before saving.

Important Notes

• Issued accounts: If the account status is Issued, all required fields for the selected account type must be completed before the account can be saved.
• Field cleanup happens on save: If you change the account type and save, values that do not belong to the new type are removed.
• Commission overrides: If the account has a company commission override, recalculation may be limited depending on the override settings.
• Linked accounts: You can change the account type even if the account is linked to Orion or Black Diamond. This does not change the custodian feed. It only changes how the account is classified inside LeadCenter.

Before You Save

Before saving the conversion, make sure you review:

• The selected Account Type
• The product fields required for that type
• Any commission or fee settings that may be affected
• Whether the account is already marked Issued

Duplicate Account Considerations

If you have duplicate records, such as one account linked from Orion and another entered manually, converting the account type may not always be the best fix. In some cases, it may be better to unlink and relink the external integration to the correct account instead of keeping two separate records.

Best Practices

• Convert the account instead of creating a duplicate when the only issue is the wrong account type.
• Check required fields before saving, especially if the account is already in Issued status.
• Review commission results after saving to confirm the recalculated values are correct.
• Be careful with linked accounts so you do not create duplicate records across manual entry and custodian integrations.

Frequently Asked Questions

Can I change an account from AUM to Insurance?

Yes. Open the account, click Edit, change the Account Type to Insurance, complete the required insurance fields, and save.

Can I change an account from Insurance to AUM?

Yes. Open the account, click Edit, change the Account Type to AUM, complete the required AUM fields, and save.

Will LeadCenter keep all the old fields?

No. When you save the conversion, LeadCenter clears fields that do not apply to the new account type.

Will commissions update automatically?

Yes. LeadCenter recalculates commissions or fees based on the selected account type and product selections, unless an override limits recalculation.

Can I convert an account that is linked to Orion or Black Diamond?

Yes. You can still change the account type. This does not change the external feed. It only changes how the account is classified in LeadCenter.

What happens if the account is already Issued?

If the account is in Issued status, you must complete all required fields for the new account type before LeadCenter will allow you to save.

Related Articles

• Managing Financial Accounts

Need help? Contact support@leadcenter.ai.