Study Notes:
Introduction
IBKR’s Customer Relationship Management (CRM) platform is fully integrated within Advisor, Broker and Institutional account Portals and lets you manage information about clients and prospects from a single platform.
Use CRM to send client account opening invitations and quickly turn prospects into clients. Check the process of client account applications and view detailed information about clients and prospects with the click of a mouse. Maintain CRM records for closed accounts for historical purposes or a future reopening of the account.
Track your relationships with a sortable notes field or add client-specific tasks or events using the CRM calendar feature. Send individual or bulk emails to clients and view email history through a secure, third-party email service. In addition, you can manage client notes with CRM and use the CRM calendar to add tasks and events related to any contact.
CRM offers easy-to-use account-filtering tools to drive engagement and more effectively address client needs. Use over 40 fields to segment your client base by account attributes, demographics, investment objectives or engagement. Create greater client value by uncovering hidden dynamics, spotting niche opportunities, or creating “mass customization” capabilities to serve similar clients. In addition, you can bulk-import contacts using .csv files and easily jump between the dashboard and CRM for different views of client accounts.
Now let’s take a more detailed look at the Dashboard and CRM pages.
Dashboard Tab
Logging in to Portal will take you to the Portal Homepage. Here you can see several tabs, the first of which is Dashboard. The dashboard gives you a global view of your client’s activity.
The first time you visit the page you will be asked to configure a Rackspace password. Rackspace is a third party cloud storage partner. CRM data is stored on Rackspace servers for security and this data cannot be accessed by Interactive Brokers. The initial step is to create a Rackspace password and to do this, from the Application menu, click on Settings> User Settings and from the Login section locate the item for CRM Rackspace Password. Use the gear icon to create and save your secure password. You will not be required to input this password when you login subsequently. There is no fee associated with these CRM features.
Pending Items Panel – The Pending Items tab shows the date, account title, account number, and status. Pending items can include funding, account opening or closing-related activities, transfers and other types of client account activities. You can view all recent funding and account application activity that occurred in the past ten days for all of your client accounts. If no activity occurred during the last ten days, a message to that effect appears. You can filter the table by Item Type: Information Requests or Account Application issues, and you can search by Account ID.
Within the Pending Items table, clicking on an account ID hyperlink opens Contact Information per name or account. The Contact Information tab displays Profile of the client, the Configuration set-up for the account, Contact and Financial information and Trading Permissions.
Recent Activity Panel – The Recent Activity tab shows the date, account title, account number, username and for each activity. Activities can include funding, account opening or closing-related activities, and other types of client account activities. The display can be quickly sorted in ascending or descending order by clicking a column header and scrolling.
Add Account Button – Click this button and select whether to send a client a Fully electronic client invitation via email or start a Semi electronic account application for your client.
Add/Edit Widget Click the ‘Add/Edit Widget’ button to hide any of the panels you don’t use.
Notifications
Corp Actions – This tool allows you to review information on upcoming corporation actions relating to positions held in the account. This will include both mandatory and voluntary action types. This tool will also allow you to submit elections to IBKR for voluntary offers.
Messages – This opens the Message Center.
Assets Under Management (AUM) Panel – Overall assets under management and the year-to-date return are aggregated across clients and displayed in the plot to the right. Use the mouse to hover over the display for additional detail.
Master Account Balance -The Master Account Balance represents the value of the Master Account and does not include the sub accounts.
Workflows Panel – Workflows are a simple way to assign tasks and monitor them. Use the CRM Workflow panel to assign tasks to a specific contact and then monitor the workflow. You can set the priority and due date for each task. Click the plus icon to add a new workflow.
Notes Panel – Use this panel to add, edit and delete notes you’ve created for your contact(s). To add a note, click the plus icon on the Notes panel. Then, type your note and add your contact before saving. To edit a task, click the pencil icon on the Notes panel. To delete a task, click the x icon on the Notes panel, then select Yes to confirm.
Calendar Panel – Use the calendar panel to view, edit and delete events that have been scheduled with contacts. To view your calendar in a full window, use the Calendar tab at the top of your dashboard. Below are today’s calendar events with a link to the full calendar view.
Documents Panel – Use the Documents panel to view, add and deleted documents uploaded for your contact(s). To view documents, click the eye icon on the Documents panel. To add documents, click the plus icon on the Documents panel. Browse your personal file directory to upload the document and add a contact before saving. To delete a document, click the x icon on the Documents panel, then select Yes to confirm.
Contacts Tab
The Contacts table includes all of your prospects and clients. You can add new contacts, configure the columns and filter the results shown. You can quickly Search for a contact by entering information into the search bar and clicking on the magnifying glass. Contact records can be saved with very little information. You can save a prospect with only first and last name and can always add more information as the relationship develops.
Add Account Button – Click this button and select whether to send your client a Fully electronic client invitation via email or start a Semi electronic account application for your client. Using the fully electronic method, you send an email invitation to the client and the client completes an electronic application. For the semi-electronic application, you complete the application electronically, print out a paper copy, your client signs the paper copy, and the application gets sent to us for processing.
Add Contact Button – New contacts Entries can be added manually or by importing via Excel spreadsheet or Vcard.
Add a Contact Manually – To manually add an individual, click on the Add Contact button. Select the Manual Input button to expand the Configure Contact Profile entry sheet. The more data you can enter about a prospect the better, and this can help save you time when it comes to sending Account Invitations to prospects. When creating those invitations, the Account Application will pre-fill with inputs added to the prospect’s record. The prospect can then review and modify any incorrect information.
Some input fields are freeform input fields while others have a dropdown menu to offer selections. The input fields cover:
- Contact Information
- Residential Address
- Tax Information
- Employment Information
- Prospect Information – this allows you to assign Account type, priority and a marketing source for each entry
- Click continue at the bottom right of the page. Review and click ok to complete. Back on the Contacts tab I can quickly enter the name in the search bar to see how my new prospect appears.
Add Contact by Spreadsheet – Add clients and prospects in bulk using the import function with an Excel spreadsheet. Click on the add button and this time select Contact by Excel File. This requires users to download an Excel Template, which is pre-populated with field headers to organize the database properly. Click the link to download that template.
The template includes several tabs. You will only create contact information using the Data Input Page. The additional tabs guide users with abbreviations and examples. The form is intuitive and easy to use.
To import your file, click the ‘Choose a File’ button, and locate the spreadsheet you just saved and click Open. The software will alert you to the location of any input errors in the sheet. You must fix these before the sheet can be uploaded. When done, you will see a message stating the number of contacts that have been added.
Note: The Maximum import size is 100 contacts. Do not exceed 100 rows. If you have more than 100 contacts, please import multiple spreadsheets.
Add Contact with a Vcard – Contacts can be created from vCards, also known as VCF or Virtual Contact Files, a format for electronic business cards. Your file must not exceed 1MB in size.
Download Button – There are three possible Export options:
Export: Contact Summary to CSV. This CSV Export includes basic contact information.
Export: Contact Application Tasks to CSV. This CSV Export includes pending application tasks clients.
Export: Client Data to Excel. This CSV Export includes detailed client information. Note this option is only displayed if you have enabled two-factor authorization.
Icon Bar
Merge Contacts – If multiple prospect records were created for the same person, you can merge them with this feature. Click the icon, select the prospects by checking the box on the row and click the ‘Merge Contact’ button at the bottom of the page. The remaining prospect record will include the merged information.
Refresh Icon – Click this icon to refresh the data on the page.
Filter Icon – Click on the Filter icon to see that Contacts may be described as Prospects or Clients. Expand the Account type field to see those available to sort on. The Status filter offers six stages of account or application progress. When you have entered client or prospect details, these filters will enable you to easily display only the information you want, such as prospects only, hedge fund clients only or the subset of prospects with account applications in progress.
Configure Icon – Click the gear icon to see available column headers to appear at the top of the page. Check those you want to appear, and you will see them instantly appear and disappear from the display, you may also change the display order.
Statistics Row – The statistics row displays totals for accounts in various states. Click a statistic to filter the table by that parameter.
Pending Registration Tasks page – Click the red pill on the Statistics row to open the Pending Registration Tasks page. This page displays accounts with pending registration tasks. Up to three tasks are displayed on each row, click the … to display additional tasks.
Search Contacts Field – Search for contacts by name, account number, username or email address.
Contacts Table – The following columns are available and configurable: Title, Contact, Type, Account type, Account Number, Status, Username, Email address, Phone Number and Net Asset Value.
CRM Record
- Client Record – From the Contacts tab, click the “i” Information icon next to a contact. The Contact Information page will open.
Profile Information Panel – The profile information includes all the personal information entered for the prospect or client.
Financial information Panel – This panel shows the client’s Annual New Income, Net worth, Source of Fund, etc.
Trading Experience and Permission Panel – This panel displays products the client has permission to trade.
Configuration Panel – Use the configuration panel to view and in some cases modify the account settings of the contact. Click the ‘gear’ icon to configure items and the ‘eyeball’ icon to display additional information.
Agenda Tab – View workflows, tasks, notifications, etc.
Workflows – This workflows panel will only display workflows for the specific contact
Notes – This notes panel will only display notes for the specific contact
Documents – This documents panel will only display documents for the specific contact
Events – This events panel will only display events for the specific contact
Notifications – This notifications panel includes pending tasks for the specific client.
Generate Client Information PDF Button – Click this button to generate a PDF that includes the client’s information submitted to their account application.
Report/Tax Docs Tab – Run statements, create custom statements, flex queries and configure custom reports for delivery to the client’s email address on record.
Transfer & Pay Tab – View transaction history, and transfer funds or positions.
Tools Tab– View Risk Scores, Goal Tracker and Client Data Queries.
Portfolio Analyst Tab- View performance, create custom reports, and configure custom reports for delivery to the client’s email address on record.
Margin Requirements Tab – View client’s margin information.
Sub Accounts Tab – Certain client account types may have sub accounts. View and edit sub account information for those clients here.
Prospect Record – Displays the profile information for the prospect.
Send Application Invite Icon – When you send an Application Invite from a client or prospect record, the Semi or Fully electronic account application will be pre-filled will all of the information saved in CRM.
Fee Administration Tab
The Fee Administration tab allows you to configure client fees, work with client fee templates and manage invoices and fee reimbursements.
Tools Tab
Client Data Queries – Use the Client Data Queries feature to run reports based on performance, symbol or transaction count. You can run the following reports:
Run a report on performance: The report contains query accounts with performance greater than and/or less than a specified TWR.
Run a report based on symbol: The report will display any activity in the symbol or if the position was held in the account during the selected time period.
Run a report on transaction count: The report will show which activity surpasses the threshold. The activity can include trades, dividends, and position transfers but does not include interest.
Run a report on Required Minimum Distribution: This report will show which clients need to make an RMD for the selected tax year.
Account Data Queries – Use the Account Queries tool to search accounts by account type, account status, application type, margin type, and additional criteria.
Note: The Account Queries tool can only be accessed by users enrolled in the Secure Login System.
Risk Scores – Use Rick Scores to understand client risk tolerances and recommend suitable investments for your clients. By default, answers to questions are assigned a default Risk Score Value on a scale of 1 to 5, with 1 indicating lowest risk and 5 indicating highest risk. You may modify the assigned value for any or all questions within a completed questionnaire using this default 1-5 scale, or you can modify the Risk Score Scale and reassign values based on your own scale.
Goal Tracker – Goal Tracker is a planning tool that projects the hypothetical performance of your client’s portfolio and monitors how likely they are to achieve their goal. You set the inputs – such as monthly contribution amount and target risk and return as well as your client’s goals and see the projections and the likelihood of achieving those goals.
ESG Impact Preferences – The ESG Impact helps you understand your client’s preferences related to socially responsible and impact investing. Select client accounts and send Impact invitations. Your clients can select their personal investment criteria from 13 impact values.
RMD Calculator – The Required Minimum Distribution Calculator provides the ability to calculate the Required Minimum Distribution (RMD) for all RMD applicable Individual Retirement Accounts (IRA). This calculator will show the total withdrawn amount to date and the remaining amount to withdraw.
Note: The RMD calculator is only available for Traditional IRA, Rollover IRA, SEP IRA, advisor master accounts, and broker master accounts.
Groups Tab
You can organize your clients and prospects records into groups according to any criteria you choose, and you will be able to pull up a group of contacts instead of selecting them one at a time. When you create a group, you can decide to make the group Public or Private. Public groups are visible to all users on the account, Private groups are only visible to the user that created them.
In addition, for accounts that meet the criteria, you can create households. Select one member as the head of household, and that member can log in with that username to view all reporting and account details for all accounts in the household. Once you create a household, a paper form will be generated that the client must sign and return if they want to be considered a household. Paper forms are generated each time a new household is created or modified.
Transaction History Tab
This tab will display up to 90-days’ worth of records, enabling you to find cash deposits and withdrawals, inbound and outbound position transfers and transfers within your account ecosystem.
Transactions can be filtered by the following parameters:
- Date Range
- Search Transactions
- Transaction Type
- Method
- Status
Calendar Tab
The calendar may be viewed on a monthly or daily basis by using the buttons to the upper right. Click the + to create events that will display on the calendar and also on the Dashboard view.
Email Tab
Interactive Brokers partners with third-party cloud management solution provider Rackspace in order to provide secure storage for emails, notes, tasks and documents for each contact. IBKR neither stores nor has access to that data.
In order to utilize CRM email, users must first request a mailbox. Use the button on the Email Tab to submit the request. Once Rackspace creates the mailbox and the mail settings have been configured, your email functionality is accessible from the Dashboard.
Note the following caveats about the email address:
- You will need to use an established email address with a pre-existing email domain for Rackspace to create the inbox.
- You may not use public domains such as Yahoo, Gmail, Hotmail or Outlook.
- Finally, note that by integrating Rackspace email, you will face some ongoing costs, although these are the only costs associated with our Broker Portal.
Full Service Advisor and Broker Programs
IBKR offers a Full Service program which allows registered Advisors and Brokers who are eligible to perform additional actions on behalf of their clients including funding requests and information changes. Supplement Limited Power of Attorney forms must be completed to enable this program. Brokers access the Full service Program in Portal > Settings > Client Service Programs. Advisors must submit signed Supplemental Limited Power of Attorney paper forms signed by any clients that wish to participate in the program. The form is available under Help > Support > Paper Forms.
User Access Rights for CRM Functionality
All components of CRM and Dashboard are accessible to the account’s primary user, but the primary user may enable or restrict CRM access for additional users on the account. The following table shows the UAR required for each component.
| Component | UAR | Account Access (Scope Dropdown) | Notes |
| Dashboard – AUM Chart | Activity Statement or PortfolioAnalyst | Client account access required | Only balances for clients the user has access to will be included in the AUM. |
| Dashboard – AUM Chart – Master Acct Balance | Activity Statement or PortfolioAnalyst | Master Account access required | |
| Dashboard: Pending Items/Recent Activity | Account Information or Funding Authorizer | Client account access required except for authorizing a withdrawal | Items will only appear for clients the user has access to except if the user is a funding authorizer the user will be able to confirm a withdrawal without the Account Information UAR. |
| Dashboard: Notifications | Account Information | Client account access required | Items will only appear for clients the user has access to. |
| Dashboard: Tasks /Workflows for prospects | CRM | Tasks and workflows panel and items associated with prospects will be made visible. | |
| Dashboard: Tasks /Workflows for Clients | CRM and Account Information | Client account access required | Tasks and workflows associated with clients that the user has access to will be made visible. |
| Dashboard: Documents for prospect | CRM | Documents panel and documents associated with prospects will be made visible. | |
| Dashboard: Documents for clients | CRM and Account Information | Client account access required | Documents associated with clients that the user has access to will be made visible. |
Disclosure: Interactive Brokers
The analysis in this material is provided for information only and is not and should not be construed as an offer to sell or the solicitation of an offer to buy any security. To the extent that this material discusses general market activity, industry or sector trends or other broad-based economic or political conditions, it should not be construed as research or investment advice. To the extent that it includes references to specific securities, commodities, currencies, or other instruments, those references do not constitute a recommendation by IBKR to buy, sell or hold such investments. This material does not and is not intended to take into account the particular financial conditions, investment objectives or requirements of individual customers. Before acting on this material, you should consider whether it is suitable for your particular circumstances and, as necessary, seek professional advice.
The views and opinions expressed herein are those of the author and do not necessarily reflect the views of Interactive Brokers LLC, its affiliates, or its employees.
Any trading symbols displayed are for illustrative purposes only and are not intended to portray recommendations.
In accordance with EU regulation: The statements in this document shall not be considered as an objective or independent explanation of the matters. Please note that this document (a) has not been prepared in accordance with legal requirements designed to promote the independence of investment research, and (b) is not subject to any prohibition on dealing ahead of the dissemination or publication of investment research.
