Team

Streamlined collaboration to optimize, unify and speed up your back-end operations.

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Team Functionality in Finpace

The team functionality in Finpace is designed to facilitate streamlined collaboration within financial firms by clearly defining roles and responsibilities for different team members. Currently, there are two main roles—Admin and Advisor—with a third role, Support, under consideration for future implementation.

Each role comes with its own set of permissions to ensure compliance, efficiency, and operational integrity across the firm. In this document, we will cover the existing roles, explore the potential Support role, and provide comprehensive steps for setting up your team in Finpace.

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Building the Support Role

Support Role Overview:The Support role will be designed to assist advisors with their tasks without having the ability to make structural changes to the firm or sign documents. This role would have limited permissions, ensuring they can contribute to the workflow without compromising compliance.

Key Features of the Support Role:

• Task Execution: Support can complete administrative tasks such as creating forms, managing client information, and preparing documents for signatures.
• Form Handling: Support can start, edit, and complete forms on behalf of advisors but cannot sign them.
• Document Preparation: Support can upload necessary documents and manage client-facing activities, but they will not have the authority to change contracts, amend disclosures, or upload firm-level documents.
• Restricted Permissions: Support users will not be able to make changes to the firm's structure, alter settings, or modify firm-wide contracts or compliance documentation.

Compliance Safeguards:

• No Signing Authority: Support staff cannot sign contracts or documents.
• No Structural Changes: Support staff will not have access to modify any contracts, disclosures, or other critical firm documentation.

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Setting Up Your Team in Finpace

Step 1: Inviting Users to Your Finpace Team

1. Navigate to the Team Management Section:
   In your Finpace dashboard, go to Settings > Team. Here, you will find the option to manage team members, invite new users, and assign roles.
2. Click ‘Invite Team Member’:
   Click the Invite Team Member button, where you can enter details like the user's name, email address, and their role (Admin or Advisor). Once the Support role is implemented, it will also appear in this list of roles.
3. Enter User Information:
   You will need to prefill key details such as:
   • Full Name
   • Email Address
   • CRD Number (if applicable)
   • Role: Select either Admin, Advisor, or eventually, Support.
4. Send Invitation:
   Once you’ve completed the form, click Send Invitation. The user will receive an email with instructions to join Finpace, set up their account, and confirm their role.

Step 2: Admin Role Setup

• Admins have full access to the platform. They can:
  • Modify firm-wide settings
  • Upload disclosures and documents
  • Amend and sign contracts
  • Create and manage forms
  • Access client information and handle compliance documentation

Step 3: Advisor Role Setup

• Advisors have more limited permissions, focused on client engagement and forms:
  • Create, edit, and complete forms
  • Access and manage client information
  • Sign documents, such as advisory agreements
  • Advisors cannot change firm-wide settings or alter disclosures/contracts.

Step 4: (Future) Support Role Setup

• Support Staff will be restricted to operational and administrative tasks. They will be able to:
  • Start, manage, and complete forms for advisors
  • Access client data
  • Prepare documents for signature
  • Restricted: They cannot sign documents, change contracts, or alter firm-wide settings.

Step 5: Monitoring and Managing Users

• Review Permissions: At any time, admins can review the roles and permissions of team members in the Team section.
• Reassign Roles: Admins can reassign user roles as needed, promoting an Advisor to Admin or adjusting permissions as the team structure evolves.
• Deactivating Users: If a user leaves the firm or their role changes, admins can deactivate their account to revoke access.

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Conclusion

Finpace’s team functionality is designed to ensure flexibility, security, and compliance within your firm.

Whether you need full access for Admins, task-specific access for Advisors, or administrative support roles, Finpace allows you to customize roles according to your operational needs. By clearly defining user permissions, you can streamline workflows, reduce compliance risks, and ensure that your team functions efficiently.