Through the process of expanding your business and your offerings to clients, due diligence becomes a larger part of the everyday work of a firm. The new Due Diligence module centralizes this effort for you, our clients. This will help streamline your effort to collect your emails, surveys, and meeting notes that are required for your due diligence processes. Using the new Due Diligence tools, you can memorialize your process, protocols, and notes, all in one place, creating greater collaboration in the due diligence process. We have related the Due Diligence table to:
| Wealth Management | Asset Management |
| Investment Manager | Distribution Channel |
| Company | Company |
| Opportunity | Opportunity |
Due Diligence comes as two parts, individual rows, or records, to memorialize when due diligence efforts are conducted, and as a Due Diligence tab that can be see on each row (record) of an Investment Manager, Company, Opportunity, or Distribution Channel (for Asset Management). The Due Diligence rows allow you to track basic details about each opened due diligence effort, with the important details to be recorded on the underlying table. So as you complete your annual due diligence on a Company, you can update the important details on the Company row, while recording your due diligence efforts on a due diligence row (record).
Due Diligence
The information that is included on the Due Diligence Table:
Due Diligence Type
- Due Diligence Type
- Due Diligence Status
- Investment Manager, Company, Opportunity, or Distribution Channel - based on where due diligence was created
Details
- Frequency Type
- Start
- End
- Notes
Activities Plus
Important Information
Due Diligence on Company
| New Columns | Column Type |
|
Active Legal Proceedings |
Boolean |
|
Active Legal Proceedings List |
Memo |
|
Adherence To AML Laws |
Boolean |
|
AML Training |
Boolean |
|
Business Continuity Plan |
Boolean |
|
Business lines of your company with brief details. |
Memo |
|
Contract reviewed? |
Boolean |
|
Insurance |
Boolean |
|
Insurance Notes |
Memo |
|
Last Audit |
Date/Time |
|
Master Service Agreement reviewed? |
Boolean |
|
Political Exposure Notes |
Memo |
Due Diligence on Opportunity
| New Columns | Column Type |
|
ID Proof |
Boolean |
|
International Business Affiliates/OFAC Related Interests? |
Memo |
|
KYC Complete? |
Boolean |
|
Name Verified to ID |
Boolean |
|
Politically Exposed Person |
Boolean |
|
Related to a Politically Exposed Person |
Boolean |
|
Type of Id if Yes? |
String |
Due Diligence on Investment Manager
| New Columns | Column Type |
|
Regulatory Body that Supervises Firm |
String |
| Registration No
|
String |
|
Performance fees for portfolios? |
Boolean |
|
Company |
Lookup |
Due Diligence on Distribution Channel
| New Columns | Column Type |
|
Business Model |
String |
|
Counterparty details |
Memo |
|
Public Legal Considerations/Complaints? |
Memo |
|
Type of Firm |
String |
