If my investor has an accreditation letter on hand, will they still be required to go through the Parallel Markets workflow?
If your investor has an accreditation letter on hand, you can manually verify the investment at any time by following these instructions: https://support.verivest.com/en/articles/5986598-manually-verifying-an-investor-s-accreditation-status
However, if the investor is investing through a trust or entity, and the letter they have on hand does not verify that the trust or entity is an accredited investor, you may still want to have them go through the Parallel Markets workflow. Parallel Markets will collect the investor's trust or entity organizational documents and review if any additional accreditation steps are required.
I want to create an investment on behalf of my investor. Can I still prompt them to provide their accreditation documentation and go through the Parallel Markets workflow?
You can prompt your investor to go through the Parallel Markets workflow by first creating their investment pledge. Once that is created, you can click on “send a pledge notification” to prompt them to go through the Parallel Markets workflow.
You can refer to these instructions for more details: https://support.verivest.com/en/articles/8868905-sending-a-pledge-notification
Once the investor has completed the accreditation process, their status will update to Verified and their accreditation letter will be uploaded to their account.
What is the fee associated with having the Parallel Markets integration enabled?
You are only charged as the integration is utilized. That means you are only charged per completed accreditation. The fee is $75 per accreditation.
Will I be charged if none of my investors go through Parallel Markets?
No, you will not be charged.
What if I have an investor struggling with uploading their documents to Parallel Markets?
If you have an investor struggling with the accreditation process, you can refer them to IR@verivest.com and we can do a screenshare and assist them with any questions they may have about uploading documents to Parallel Markets.
Alternatively, you can also impersonate an investor and see what the investor sees in their investor portal. You can assist them via a screenshare or phone call. Here are the instructions for impersonating an investor: https://support.verivest.com/en/articles/8350786-impersonating-an-investor
I do not want to use the Parallel Markets integration. How do I disable it?
You can disable the Parallel Markets integration at any time using these instructions: https://support.verivest.com/en/articles/8868965-opting-out-of-parallel-markets
Please note that if you opt out of using Parallel Markets, Verivest will no longer verify accreditations outside of the Parallel Markets integration. Your team will need to manually verify the accreditation using these instructions: https://support.verivest.com/en/articles/5986598-manually-verifying-an-investor-s-accreditation-status
Will Verivest still verify accreditations if we don’t want to use Parallel Markets?
No. Verivest will no longer verify accreditations outside of the Parallel Markets integration. Your team will need to manually verify the accreditation using these instructions: https://support.verivest.com/en/articles/5986598-manually-verifying-an-investor-s-accreditation-status
Will Parallel Markets reach out to a secondary investor on a trust or entity if required to complete the accreditation?
Yes, Parallel Markets will coordinate with the primary investor on the account in order to reach out to a secondary investor in order to complete the accreditation.