Historically, IR professionals have needed to make time for repetitive, error-prone, manual data entry creating new Investor Commitments, updating Contact’s Correspondence Preferences, or adding new Investor Contacts to all of an Account’s Investor Commitments. Altvia’s Product Team has solved this problem with Master Investor Contacts!
Master Investor Contacts (MICs) allow users to set up a standard set of Contacts for an Account that can quickly be added as Investor Contacts to that Account’s Investors. For example, if the State Retirement Account always wants Carolina Webster and Tad Nixon to receive Investor Correspondence, you could add them as MICs for that Account. From then on, whenever you create a new Investor record, you can quickly add Carolina and Tad as Investor Contacts. The Preferences and Override values are defined on the MIC records you create as well!
Example MIC record:
If you create a new MIC, you can use the “+ Investor Contacts” button on the MIC record to create Investor Contacts for that MIC in some or all of that Account’s existing Investor records. For an example, let’s use the common scenario where a new employee joins a firm and needs to be made a new MIC. Below are the steps you should take:
- Search for the Contact record to double-check they’re not already in AIM
- Go to the Account record
- Create the Contact record
- On the Contact record, create a ‘New’.
- Link your new MIC to the appropriate Account (2).
- Update the MIC record details (i.e. “Preferred Email”, “Override Email”) and then ‘Save’.
- Update the ‘Master Investor Contact Correspondence Preferences’.
- Finally, while on the MIC record, click “+ Investor Contacts” to apply that MIC to related Investor records (shown below).
The “Update Investor Contacts” Button
- If you made an update to a MIC, for example, changing an “Override Email” or tweaking “Correspondence Preferences”, you can apply that change to all that MIC’s Investor Contacts by simply clicking the “Update Investor Contacts” button.
- Upon clicking that button you’ll choose which Investor Contacts will have their contact information and/or Correspondence Preferences updated with the values from the MIC (screenshot below).
Example using the “Update Investor Contacts” button from the MIC record:
The “Deactivate” Investor Contacts Button
- If you wish to remove Correspondence Preferences on all related Investor Contacts so they no longer receive Investor Correspondence, you can use MICs.
- Simply press the “Deactivate” button (as shown below) and select all the Investor Contacts where Preferences should be removed. (Please Note – This will also un-check the “Active” checkbox on the MIC. The MIC will no longer appear as an option when creating Investor Contacts.
Example using the “Deactivate” button from the MIC record:
Side Notes on Best Practices:
- It’s important to keep everything in sync. To help with this, on the Investor Contact page, make sure the “Master Investor Contact” field is visible (ex. shown below). You can also add the MIC field as a column on related lists. Doing so will help users to know if the Investor Contacts are unique or from a MIC.
- Whenever the MIC field is populated, users should update the MIC record, not the Investor Contact record. To help with this we can add a rich text component (a pop-up window/banner) that alerts the user to update the MIC rather than the Investor Contact (example below).