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 |
| New Business | New Business |
Due Diligence comes in two parts, individual records to memorialize when due diligence efforts are conducted, and a Due Diligence section that can be seen on each record of an Investment Manager, Companies, New Business, or Distribution Channel (for Asset Management). The Due Diligence record allows you to track basic details about each opened due diligence effort, with the important details to be recorded on the underlying Object record. So as you complete your annual due diligence on a Company, you can update the important details on the Company record, while recording your due diligence efforts on a due diligence record.
Due Diligence
The information that is included on the Due Diligence Object:
Details
Information
- 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
Activity
Related
Notes & Files
Due Diligence on Company
| New Fields | Field Type |
|
Active Legal Proceedings |
Checkbox |
|
Active Legal Proceedings List |
Long Text Area |
|
Adherence To AML Laws |
Checkbox |
|
AML Training |
Checkbox |
|
Business Continuity Plan |
Checkbox |
|
Business lines of your company |
Long Text Area |
|
Contract reviewed? |
Checkbox |
|
Insurance |
Checkbox |
|
Insurance Notes |
Long Text Area |
|
Last Audit |
Date |
|
Master Service Agreement reviewed? |
Checkbox |
|
Political Exposure Notes |
Long Text Area |
Due Diligence on New Business
| New Fields | Field Type |
|
ID Proof |
Checkbox |
|
International Business Affiliates/OFAC |
Long Text Area |
|
KYC Complete? |
Checkbox |
|
Name Verified to ID |
Checkbox |
|
Politically Exposed Person |
Checkbox |
|
Related to a Politically Exposed Person |
Checkbox |
|
Type of Id if Yes? |
Text |
Due Diligence on Investment Manager
| New Fields | Field Type |
|
Regulatory Body that Supervises Firm |
Text |
| Registration No
|
Text |
|
Performance fees in portfolios? |
Checkbox |
|
Company |
Lookup |
Due Diligence on Distribution Channel
| New Fields | Field Type |
|
Business Model |
Text |
|
Counterparty details |
Long Text Area |
|
Public Legal Considerations/Complaints? |
Long Text Area |
|
Type of Firm |
Text |
