Upgrade to Elements 2022: Major Release 1

Mar 30, 2024

Steps to Upgrade to Elements Major Release 1

Please have your Designated Support Contact submit a support ticket for the upgrade link. Once the link is available, the Support Team will respond to the ticket.

Determine if you are going to install the updates to your Production or Sandbox environments.
Using the Elements upgrade link provided by support, log in with your Salesforce credentials. Note: please make sure to use the Admin credentials to install the upgrade correctly.
On the upgrade screen, select Install for Specific Profile. ->DO NOT CLICK UPGRADE JUST YET<-
Scroll down and make the following selection for the two highlighted profiles, and any other custom profiles you use.
Scroll back up and click Upgrade.
Go take a coffee/tea break as this will take about 5-10 minutes to complete.
Congratulations, you’ve successfully upgraded Elements to the latest version.

Incorporate these updates to the Wealth Management App

These instructions show you how to incorporate the 2022 Major Release 1 into your Salentica Elements.

Update User Profiles

So that your colleagues can see the updated Objects, user Profiles will need to be updated. Any Profiles you're currently using need to be adjusted, including the Salentica Elements Power User Profile.

You might want to make the following changes for these Custom Object Permissions:

Asset Allocation
Investment Managers
Investment Vehicles
New Business
Outreach
Outreach Members
Rep Codes
Sponsorships
Vendor Contracts

Click on the gear icon at the top-right corner of Elements home page and select ‘Setup'
Type the keyword as ‘Profiles’ in the Quick Find bar on the left-hand side under the Home tab
Click on the Profiles option provided under the ‘Users’ menu from the search results
Click on the profile name Salentica Elements Power User
Click on the Edit button and scroll down to 'Custom Object Permissions'
Under ‘Custom Object Permissions’, look for the Custom Object Permissions above and select the first four checkboxes which are ‘Read’, ‘Create’, ‘Edit’, ‘Delete’
Scroll to the bottom of the page and click on the Save button

If you would like more information, check out our article on Profiles.

Edit Page Layouts- Wealth Management

Edit the Page Layout on the following Objects:

Company

1. Add New Section - Due Diligence

Click on Page Layouts > Company Layout - Summer 19 and select the Fields option on the left side of the menu options window. From the menu option window, drag the component named as Section and drop it below the Information section. From the Section Properties popup window, type the Section Name as Due Diligence, Layout as ‘2-Column' and Tab-key Order as 'Left-Right’ and click on the Ok button

2. From the menu window on the top, type the following field names one after the other in the Quick Find search bar, then drag and drop them in the Due Diligence section:

Contract Reviewed
Master Service Agreement reviewed?
Active Legal Proceedings
Active Legal Proceedings List
AML Training
Adherence To AML Laws
Last Audit
Insurance
Insurance Notes
Business Continuity Plan
Business Lines of Company
Political Exposure Notes

3. Update Related Lists: Add Due Diligence, Rep Codes, Investment Managers

4. Update Related List Properties: Due Diligence

Due Diligence #
Due Diligence Type
Due Diligence Status
Frequency Type
Created Date

5. Update Related List Properties: Rep Codes

Rep Code
Start Date
End Date
Description

6. Update Related List Properties: Investment Managers

Investment Manager Name
Investment Manager Status
Registration No.
AUM

Investment Manager

1. Add New Section - Due Diligence

Click on Page Layouts > Investment Manager layout and select the Fields option on the left side of the menu options window. From the menu option window, drag the component named as Section and drop it below the Information section. From the Section Properties popup window, type the Section Name as Due Diligence, Layout as ‘2-Column' and Tab-key Order as 'Left-Right’ and click on the Ok button

2. From the menu window on the top, type the following field names one after the other in the Quick Find search bar, then drag and drop them in the Due Diligence section:

Regulatory Body that Supervises Firm
Performance fees in portfolios?
Registration No.
Company

3. Update Related Lists: Add Due Diligence, Investment Team, Leadership

4. Update Related List Properties: Due Diligence

Due Diligence #
Due Diligence Type
Due Diligence Status
Frequency Type
Created Date

5. Update Related List Properties: Investment Team

Name
Contact Type
Home Phone
Mobile
Phone
Primary Email
Mailing City
Mailing State/Province

6. Update Related List Properties: Leadership

Name
Contact Type
Home Phone
Mobile
Phone
Primary Email
Mailing City
Mailing State/Province

Event

1. Add field: Duration (Minutes) to the Calendar Details section of the page layout.

New Business

1. Add New Section - Due Diligence

Click on Page Layouts > New Business layout and select the Fields option on the left side of the menu options window. From the menu option window, drag the component named as Section and drop it below the Information section. From the Section Properties popup window, type the Section Name as Due Diligence, Layout as ‘2-Column' and Tab-key Order as 'Left-Right’ and click on the Ok button

2. From the menu window on the top, type the following field names one after the other in the Quick Find search bar, then drag and drop them in the Due Diligence section:

ID Proof
Type of ID
Name Verified ID
Politically Exposed Person
Related to a Politically Exposed Person
KYC Complete?
International Business Affiliates/OFAC

3. Update Related Lists: Add Due Diligence and Relationships

4. Update Related List Properties: Due Diligence

Due Diligence #
Due Diligence Type
Due Diligence Status
Frequency Type
Created Date

5. Update Related List Properties: Relationships

Relationship Name/Account Name
Mailing City
Mailing State/Province
Segmentation
Total Market Value
Primary Contact
Owner First Name
Owner Last Name
Home Phone/Phone
Relationship Record Type/Account Record Type

Asset Allocation

1. Update Related Lists: Add Investment Manager

Click on Page Layouts > Model/Vehicle Asset Allocation Layout

2. Update Related List Properties: Investment Manager

Investment Manager Name
Investment Manager Status
Company
Registration No.
AUM

3. Add Notes & Files to the Related Lists

Model

1. Update Related Lists: Add IPS & Asst Allocations

Click on Page Layouts > Model Layout

2. Update Related List Properties: IPS

IPS Name
Relationship
Date of Signed IPS
Last Review Date
Next Review Date
In Compliance to IPS?
Reason Out of Compliance

3. Update Related List Properties: Asset Allocations

Asset Allocation Name
Asset Class
Date Added
Date Removed
Days in Model
Target Weight Low
Target Weight High

4. Add Notes & Files to the Related Lists

Edit List Views

This is a suggestion of columns. Feel free to customize as you would like.

Edit List Views for the following custom objects-

Click on the App Launcher button situated on the top left side of the screen
Type the keyword as Due Diligence in the search box and click on the Due Diligence object in the search result
Click on the downward-facing arrow next to the Recently Viewed list view and select All
Click on the gear icon on the right side of the screen and under List View Controls, click on the option to Select Fields to Display
Under the Available Fields column, select the following fields and click on Save button to update the list view
Click on the Pin icon next to All to pin the list view

Due Diligence

Due Diligence Status
Due Diligence Type
Distribution Channel
Investment Manager
New Business
Company

Investment Managers

Registration No.
AUM
Investment Manager Status
Company

Asset Allocations

Days in Model
Date Removed
Date Added
Asset Class
Investment Vehicle

Rep Codes

End Date
Start Date
Advisor
Distribution Channel

Fee Schedules

Fee Schedule Details
Type
Rep Code

Change Path settings values for New Business

Click on the gear icon at the top-right corner of Elements home page and select Setup
Type the keyword as ‘Path Settings' in the Quick Find bar on the left side under the Home tab.
Click on the Path Settings option provided under the ‘User Interface’ menu from the search results
Scroll down and click on the Edit button for the New Business Path Name
Click on the Next button situated at the bottom right corner of the screen
Click on the Discover step
Click the option to +Add/Update Fields
In the popup window, remove the zzFollow Up Next On field and add the following fields - Est. Revenue, Projected Investment.
Click on the Save button
Click on the Next button situated at the bottom right corner of the screen
Ensure that Enable Celebrations option is toggled-off
Click on Finish button

Lightning Flow Changes

Finally, we need to delete outdated Flows, and as an option, activate a new Flow.

Delete Flows: Primary Employment in Contacts & Current Employment in Contact

Instructions to delete Primary Employment in Contacts

In the Quick Find search bar on the left side of the screen, type the keyword as Flows
Click on the Flows option provided under the Process Automation menu from the search results
Search for the following flows under the Flow Label column: Primary Employment in Contacts
Scroll to the right-most side of the screen and click on the small downward-facing arrow
Click on View Details and Versions
Under the Flow Versions section, click Del to delete any older flow versions
Click on the Delete button in the popup window to confirm the action

Instructions to delete Current Employment in Contacts

In the Quick Find search bar on the left side of the screen, type the keyword as Flows
Click on the Flows option provided under the Process Automation menu from the search results
Search for the following flows under the Flow Label column: Current Employment in Contacts
Scroll to the right-most side of the screen and click on the small downward-facing arrow
Click on View Details and Versions
Under the Flow Versions section, click Del to delete any older flow versions
Click on the Delete button in the popup window to confirm the action

Activate lightning flow for flagging non-compliance in Portfolios (Optional)

Search for the following flow under the Flow Label column: Portfolio Non-Compliance
Scroll to the right-most side of the screen and click on the small downward-facing arrow
Click on View Details and Versions
Under the Flow Versions section, click on Activate on the latest flow version

Incorporate these updates to the Asset Management App

These instructions show you how to incorporate the 2022 Major Release 1 into your Salentica Elements.

Update User Profiles

You might want to make the following changes for these Custom Object Permissions:

Asset Allocation
Distribution Channels
Distribution Teams
Investment Accounts
New Business
Outreach
Outreach Members
Rep Codes
Sponsorships
Vendor Contracts

Click on the gear icon at the top-right corner of Elements home page and select ‘Setup'
Type the keyword as ‘Profiles’ in the Quick Find bar on the left-hand side under the Home tab
Click on the Profiles option provided under the ‘Users’ menu from the search results
Click on the profile name Salentica Elements Power User
Click on the Edit button and scroll down to 'Custom Object Permissions'
Under ‘Custom Object Permissions’, look for the Custom Object Permissions above and select the first four checkboxes which are ‘Read’, ‘Create’, ‘Edit’, ‘Delete’
Scroll to the bottom of the page and click on the Save button

If you would like more information, check out our article on Profiles.