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Tracking New Business from Existing Clients with Financial Accounts

When an existing client opens a new investment, insurance, or annuity account, the recommended approach is to manage the new business as an Account under that client, rather than moving the client through a sales pipeline again.

Why Use Accounts?

Accounts are designed to track expected and completed production. They keep the new business connected to the existing client while giving your team visibility into:

• Pending, forecasted, and issued production
• Written and issued account amounts
• Engagement, application, and funding dates
• Writing advisors and commission splits
• Custodians, insurance companies, and products
• Company fees and advisor commissions
• Production and commission reports

Account status is what drives the production figures on the contact record. Issued accounts roll up into Actual production, while pending and forecasted accounts roll up into Expected production. Tracking the business anywhere else means it will not appear in either figure.

Recommended Process

1. Open the Existing Client's Record

Locate the existing client in LeadCenter and open the client's details page. You do not need to create a new contact or move the client into another sales pipeline.

2. Create the Account

1. Open the client's details page.
2. Go to the Accounts tab.
3. Click Create account. (On a client with no accounts yet, the button in the empty state reads Create Account.)

This opens the Add account page. The account type is a field on that page, not a separate step. Choose one of the three available types:

• AUM – assets under management
• Insurance – insurance and annuity products
• Financial planning only – planning fees with no managed assets

3. Choose the Right Status

Account status is required, and new accounts default to Pending. Two statuses apply to business that has not yet completed, and choosing correctly matters because both feed Expected production:

• Pending – the client has agreed to proceed and the application, transfer, or funding process is underway. Funds have not been received yet.
• Forecasted – the advisor is anticipating this business, but the client has not yet committed. Use this for pipeline visibility on expected business rather than in-process paperwork.

The remaining statuses describe completed or closed business:

• Issued – funds received from the client and the business is won.
• Cancelled – funds were never received from the client.
• Terminated – the client closed the account after it was issued.

4. Complete the Account Details

Fill in the information you have available:

• Amount – the account or contract amount. Until the account is issued, this displays as Amount written on the account details page; once issued, it displays as Amount issued. There is no separate "expected amount" field — the same field carries the value through the whole lifecycle.
• Engagement signed date – the date the client signed an engagement agreement with the firm. This applies to AUM accounts only and is required.
• Application signed date – the date the client signed the application. This applies to both AUM and Insurance accounts and is required for both.
• Writing Advisor – required, and available only while creating the account.
• Custodian and AUM product – for AUM accounts.
• Insurance company, Insurance product, and Product age range – for Insurance accounts.
• Account number – the custodian account number, or the policy number for insurance.
• Tax qualified? and Tax type, when applicable.

The Writing Advisor you select receives 100% of the commission by default. You can split commission between multiple advisors later from the account overview page.

A pending or forecasted account gives your team a record of the expected business while the application, transfer, or funding process is underway.

5. Maintain the Same Account

Update the same account as the business progresses. This keeps the account history, expected production, tasks, notes, documents, and related information together.

If the client genuinely opens a second, separate account of the same type, create it as its own account and use Add as a related account? on the create form to link it to the main account. Leave that field empty and the new account is created as a main account in its own right.

6. Update the Account to Issued

When the account has been funded or the contract has been issued, open the account and edit it. There is no separate "mark as issued" action — issuing an account means changing its status.

1. Open the account. From the account details page, click Edit on the Basic information section. From the accounts list, use the row's actions menu and choose Update.
2. Change Account status to Issued.
3. Enter the funding or issue date. This field is hidden while the status is Pending or Forecasted, and appears once you select Issued. Its label depends on the account type:
   • Account Funding Date for AUM
   • Policy Issue Date for Insurance
   • Payment Received Date for Financial planning only
4. Review the Amount and enter the Account number.
5. Click Save.

Issued accounts are validated more strictly than pending ones. Before you can save, LeadCenter requires:

• For all types: Amount, the funding or issue date, and Account number
• For AUM: Custodian and AUM product
• For Insurance: Insurance company, Insurance product, and Product age range

Gather this information before you change the status, so the save does not fail partway through.

Once the account is issued, LeadCenter includes it in issued-production, company-fee, and advisor-commission calculations based on your firm's configuration. Company fees and advisor commissions recalculate automatically each time the account is saved, unless the fee has been manually overridden on that account.

Where to See the Results

On the client's record, the new business appears in Expected production while pending or forecasted, and moves to Actual production once issued.

Firm-wide, open Accounts and use the Actions menu to reach:

• Issued production
• Pending and forecasted production
• Company commission report
• Advisor report

Example

An existing client decides to move an additional $300,000 into a new managed account.

1. Open the existing client's record and go to the Accounts tab.
2. Click Create account and select the AUM account type.
3. Leave Account status as Pending.
4. Enter $300,000 in Amount.
5. Enter the Engagement signed date and Application signed date.
6. Select the Custodian, AUM product, Tax type, and Writing Advisor.
7. If the money is transferring from another account your firm already manages, check Not new money.
8. Update the same account as paperwork and funding progress.
9. When the assets are funded, edit the account, change the status to Issued, and enter the Account Funding Date and Account number.

This approach keeps the client in one record while accurately tracking the additional business from pending through completion.

When Should a Pipeline Be Used?

Sales pipelines move leads and contacts through lead stages toward becoming clients. Once someone is already a client, additional investment or insurance business should be tracked as an Account.

Additional pipelines and deals are a separate feature for tracking projects or opportunities outside your main sales process. They are not connected to production or commission calculations, so they are not a substitute for creating the account.

Related Articles

• Managing Financial Accounts
• Automatic Revenue and Production Calculation from Financial Accounts
• AUM and Annuity Account Transfers
• Production Tracking Only Accounts
• Sales Pipeline vs. Additional Pipelines