An account is an investment vehicle that investors use to subscribe to investments and purchase securities. In the Accounts menu, you can create, manage, and view various details related to your investors' accounts. There are different types of accounts available, including individual, joint, trust, entity, brokerage, and retirement accounts.
To create an investment account, follow the steps below:
Click Accounts
Click Add New Account
Select an Account type from the drop-down menu
Enter all of the required details needed for the account type that you selected
Click Add account
NOTE: Before attempting to create individual, entity, or trust account types for users who are completely new to our system, a contact record must be created. However, this requirement does not apply to joint accounts, brokerage accounts, or retirement accounts.
During the account creation process for joint, trust, brokerage, and retirement accounts, you will have the option to create individual accounts and link them to the new joint, trust, brokerage, or retirement account. Individual accounts do not need to be created beforehand like contacts.
Required Details: Individual Accounts
A contact record in our platform
Account name (name of record, verify with the investor)
The investors first and last name
The investors date of birth (required in order for our system to perform an identity verification)
The Investors Social Security Number (required in order for our system to perform an identity verification)
The Investors email address (required for investor portal access)
Home and mailing address of the individual (required in order for our system to perform an identity verification)
Required Details: Joint Accounts
Account name (name of record, verify with the investor)
Know whether the investment will be made with the investors Spouse or Spouse Equivalent
Name or M# for both individuals 1 & 2 (If individual accounts were created beforehand)
NOTE: Joint accounts must have individual accounts for investor 1 & 2.
Please refer to the requirements for individual accounts mentioned earlier in this article.
Required Details: Entity Accounts
A contact record in our platform
Legal name of the entity (name of record, verify with the investor)
Entity type (Please confirm with the investor, as this cannot be modified once the account has been created)
EIN/TIN
Incorporation date (required in order for our system to perform an identity verification)
Details on where the company was registered (U.S. or non-U.S. registered)
Entity email address (required in order for our system to perform an identity verification)
Entity's address, including country (required in order for our system to perform an identity verification)
Authorized signer title
Authorized signer account (individual account)
NOTE: Entity accounts must have another account listed as the authorized signer. However, an individual account should be created for all investors included in the investment.
Please refer to the requirements for individual accounts mentioned earlier in this article.
Required Details: Trust Accounts
A contact record in our platform
Account name (verify with the investor)
Legal name of the Trust (verify with the investor)
Trust type (revocable or irrevocable)
Date of trust
State where the Trust was organized
Trust email address
Primary and mailing addresses for the Trust
Authorized signer title
Signer account Individual account M#,
NOTE: Trust accounts must have another account listed as the authorized signer. However, an individual account should be created for all investors included in the investment.
Please refer to the requirements for individual accounts mentioned earlier in this article.
Required Details: Brokerage Account
Account owner (individual account)
Account name (name of record, verify with the investor)
ERISA status (this field can be updated afterwards)
Tax status (taxable or not)
Brokerage account number
Custodian details (name, EIN, address)
NOTE: Brokerage accounts require an "account owner," also known as an individual account, to be associated with them.
Please refer to the requirements for individual accounts mentioned earlier in this article.
Required Details: Retirement Account
Account owner (individual account)
Account name (name of record, verify with the investor)
ERISA status (this field can be updated afterwards)
Retirement account number
Custodian details (name, EIN, address)
PLEASE remember that leaving any details blank will prompt investors to complete their account in their portal.
Need help? Contact support@verivest.com