Record a household's members

The Members tab holds who is in a household and how it is structured: its people, the trusts, companies and funds they hold roles in, its financial accounts, the professionals who act for it, and the colleagues at your firm who look after it.

Open the Members tab

1. Open the household. See Work with a household.
2. Select the Members tab.

The tab has these sections, from top to bottom:

The number beside each section's name is how many items it holds.

Rename the household

1. Select the pencil beside the household's name.
2. In Household name, enter the new name.
3. Select Save.

This is the only place you can rename a household. If another household already has the name, Alcova shows Another household already has this name. Choose a different one.

Add a member

Each person in the household has a card that shows their relationship, age, email address and phone number. The primary contact is marked Primary contact.

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1. In Household members, select Add member.

2. Enter the person's First name and Last name.

3. In Relationship, choose how they relate to the household: Spouse, Partner, Child, Parent, Sibling or Other family.

4. If you know them, enter a Date of birth (optional), an Email (optional) and a Mobile (optional).

5. Under Entity roles, choose a role in any of the household's entities. Leave No role for the others.

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6. Select Add member.

A person whose relationship is a child, such as Child, son, daughter, stepchild or dependant, shows under Children, whatever their age.

Add an external party

External parties are professionals who act for the household, such as its accountant or solicitor. They are listed in rows below the financial accounts, not as members.

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1. In External parties, select Add external party.
2. Enter the person's name, then choose a Relationship: Accountant, Solicitor or Other professional.
3. Add any contact details and entity roles.
4. Select Add external party.

See or change a person's details

Select a person's name on their card, in the entities table or in External parties. Their record opens in a panel beside the tab.

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The record has these sections:

• To change contact details, select Edit details, make your changes, then select Save.
• To change the person's relationship, select Edit in the Household section. You cannot change the primary contact's relationship, because everyone else's relationship is recorded against theirs.
• To open an entity, select its name. To come back to the person, select Back to and their name.

Remove a person from the household

1. Open the person's record.
2. Select the More actions button (three dots), then Remove from household.
3. Select Remove from household to confirm.

Their roles in the household's entities end too. Their contact record stays in Contacts.

Add an entity

Entities are the trusts, companies, SMSFs and other structures the household uses.

1. In Entities, select Add entity.

2. Under Type, select Trust, Company, SMSF, Partnership or Joint holding. For another type, select More, then choose the type.

3. If the type has kinds, choose one, for example in Trust type.

4. Enter the entity's Name and, if you have it, its ABN or ACN.

5. Under People and roles, choose each person's role in the entity. Leave No role for people with no role.

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6. Select Add entity.

If the household already has an entity with the same name, Alcova shows This household already has an entity with this name. Choose a different one.

Record who holds which role in an entity

The Entities table has a row for each entity and a column for each person. Each cell shows that person's role in that entity, so you can read across a row to see who is a trustee of a trust, or down a column to see everything one person holds.

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1. Select a cell. An empty cell shows a dash, and Add role when you point to it.

2. Select a role. Roles that suit the entity's type are listed first, for example under Suggested for SMSFs. Every other role is under Other roles.

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3. Change any other cells you need to. Each changed cell is marked with a pencil.

4. In the bar at the bottom of the page, select Save.

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To undo all your changes, select Discard in the bar. To undo one change, select the cell, then Undo this change. To take a saved role away, select the cell, then Remove from this entity, then Save.

If the save fails, the bar shows The role changes were not saved. Try again. Your changes stay in place, so select Save again.

The table may also show these columns:

If the tab is narrow, each entity shows as a card with its people listed down it.

See or change an entity

Select an entity's name to open its record.

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• To change the entity's name, registration numbers or notes, select Edit details, then Save.
• To change a person's role, use the menus under People and roles.

Record a corporate trustee or holding company

When one entity holds a role in another, such as a company that is the trustee of an SMSF, record it on the entity that the role is in.

1. Open the entity, for example the SMSF.

2. In Entities and roles, select Add.

3. In Entity, choose the other entity, for example the trustee company.

4. Choose the role: Trustee, Appointor, Beneficiary, Holding company, Ultimate holding company or Shareholder.

5. For a holding company or a shareholder, you can enter a Percentage held (optional).

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6. Select Add role.

The link shows on both entities: under Entities and roles on the fund, and under Entity roles on the company.

Delete an entity

1. Open the entity's record.
2. Select the More actions button (three dots), then Delete entity.
3. Read what will be deleted, then select Delete entity to confirm.

Deleting an entity also deletes every role held in it and its ownership of any accounts. You cannot undo it.

Add a financial account

Each account shows its institution, type and number, and who holds it.

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1. In Financial accounts, select Add account.
2. Enter the account's Name and Type, for example "Super accumulation".
3. If you have them, enter the Institution (optional) and Account number (optional).
4. Under Owners, select the people and entities that hold the account.
5. Select Add account.

To delete an account, select the More actions button (three dots) on its row, then Delete account, then confirm. You cannot undo it.

If another account in the household has the same number, Alcova shows a message. Check the number, or leave it blank.

See the household's team

The Team section lists the colleagues at your firm with a team role on the household, in order of role, starting with the Adviser. Colleagues who have access without a team role are counted at the bottom of the list.

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To change the team, select Manage access. If you cannot change it, the button says View access. Both open the Household team dialog. See Choose who works on a household.

If the household's adviser comes from a CRM and is not linked to anyone at your firm, their name shows with Not linked to anyone at your firm.

Related

• Work with a household
• See a household's portfolio
• Contacts