Using the MoneyGuide Integration

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Some of the functionality described in this article is available as part of our Montepulciano release and will not be available if your Practifi instance is not upgraded to this release.

Overview

Our integration with MoneyGuide enables Advisors to open corresponding Client or Prospect records in MoneyGuide. It uses a connection method to send a request from Practifi to open a Client/Prospect record. This article outlines enrollment in the integration and using the MoneyGuide integration. For information on the enablement process of the MoneyGuide integration, please consult our Enabling the MoneyGuide Integration article. 

Please note: This functionality will not be available in your organization if the integration has not been enabled. 

Integration Summary

Our integration with MoneyGuide allows advisors to open a corresponding Client or Prospect record in MoneyGuide. If the Client/Prospect and its Members do not yet exist in MoneyGuide, the record is created immediately in MoneyGuide. Updates made in Practifi to Client/Prospect and Member details are synched back to MoneyGuide. Updates in MoneyGuide to Client/Prospect and Members are not synched back. By design, Practifi is intended to be the source of truth for client/prospect and member details. Creation and review of Financial Plans are performed solely within MoneyGuide. 

As of the Montepulciano release in April 2024, the functionality of the MoneyGuide integration has been extended to include Prospect records. This enhancement allows for a broader scope of data transfer between the two systems for both client stages. If your firm's organization has not been upgraded to the Montepulciano release, you will not have access to this functionality. 

Enrollment

The integration requires two logins to set up the user's connection between MoneyGuide and Practifi. These steps will need to be completed once. The recommended steps are as follows:

  1. Log into Practifi first and locate a Practifi Client/Prospect that should be set up in MoneyGuide.  Click on the Link to MoneyGuide link. Select the Link to My Plan in MoneyGuide link.  
  2. If the user has not already logged on to MoneyGuide, the MoneyGuide login panel will display. Log in to MoneyGuide.

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If the user has already logged into MoneyGuide, locate the enrolment link to authorize Practifi and select it. Wait for the completion messages to display.

Once these steps have been completed, the user can click from Practifi to MoneyGuide to view and work with Client/Prospect records in MoneyGuide without interruption.

Using the Integration

Linking the Practifi Client/Prospect to MoneyGuide

Only one link is provided from Practifi to MoneyGuide. This is the Link to MoneyGuide button on the Client/Prospect record. 

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A confirmation message will appear to indicate that the My Plans list of plans in MoneyGuide is about to be displayed.

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The link opens the MoneyGuide portal at the list of plans for the corresponding Client/Prospect after checking two things:

  1. If the Practifi Client/Prospect did not exist in MoneyGuide when clicking the link, the Client/Prospect will first be created in MoneyGuide, and then the MoneyGuide page will be shown.

  2. If the Practifi Client/Prospect already exists in MoneyGuide, the MoneyGuide page will be shown. If there are changes in Practifi to the Client/Prospect or Contact details, these will also be updated in MoneyGuide. MoneyGuide intends to enforce that Practifi becomes the source of truth for Client/Prospect and Contact information. MoneyGuide users cannot update these details from within MoneyGuide after Practifi has been implemented as a customer.

Viewing Clients/Prospects in MoneyGuide

When MoneyGuide opens the Client/Prospect selected in Practifi will land on the My Plan page and list any Financial Plans created earlier. Financial Plans and any other functions offered by MoneyGuide are performed exclusively within MoneyGuide.

 

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Sync Information

The following field information is passed from Practifi to MoneyGuide.

Object Field Name
Client Id
External Id
Name
Notes
Segment
Stage
Entity Type
Dependents
Primary Client
CoClient
Assets
Liabilities
Assets Id
External Id
Entity
Description
Notes
Type
Provider
Stage
Category
Valuation
Lender
Interest Rate
Holdings
Name
Owners
Entity Id Id
Key
Name
Provider Id
Key
Asset Valuation Initial Value
Acquisition Date
Current Value
As At
Holding Id
External Id
Description
Stage
Classification
Valuation
Product Code
As At
Asset Owner Entity
Percentage Ownership
Holding Valuation  Balance
Entity Id
Key
Name
Type
Details
Client
Link
System Information
System Info Created Date
Created By
Last Modified Date
Last Modified By
User Id
Name
Link Rel
Href

 

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