Overview
Running a wealth management firm requires coordinating client reviews, compliance deadlines, onboarding workflows, and countless other activities that keep your practice running smoothly. Practifi tasks and processes ensure that the steps needed to achieve your firm’s goals are completed, documented, and never overlooked. This article provides an overview of the different types of tasks your team can work with in Practifi and clarifies when each should be used.
Standalone Tasks
A standalone task is an individual action item that occurs once and does not need to be repeated. These tasks are ideal for capturing ad hoc work, such as following up on a client phone call, preparing documents for a specific meeting, or completing a one-time research request.
Standalone tasks can be tied to a record to track work for a client, or they can remain unattached to create a personal task. This flexibility allows your team to manage both client-facing deliverables and personal to-do items within a single system, giving advisors and support staff a complete view of their workload.
Delegation can occur for a standalone task, meaning the task is assigned to another team member, not the task’s creator, for completion. This allows you to assign a standalone task to another team member for completion while maintaining visibility over its progress. When you delegate a task, both you and the assigned team member can monitor it, preventing work from being overlooked.
Delegated tasks are displayed to the task creator within the Open delegated tasks and Due and overdue delegated tasks tiles on the Home page. The assigned team member sees the same tasks in their Open tasks and Due and overdue tasks tiles. This dual visibility ensures accountability and helps managers track team workloads without constant check-ins.
Task Templates
Task templates auto-populate information when creating a task, helping your team work more efficiently by eliminating repetitive data entry. Instead of manually filling out the same fields each time you create a similar task, templates let you launch pre-configured tasks with a single action.
These templates are available through Global Actions, page actions, the Processes & Tasks section of an Entity record, and table mass and row actions on specific records within your Practifi organization. For more information on task access points, see the Using Tasks article.
When you launch a task template, the system prompts you to select a template, then displays the pre-filled fields in an editable form. You can make any necessary adjustments before creating the task. The system then generates the Task record with your specified values and, depending on the context, automatically relates it to the relevant Contact, Household, or other record.
Recurring Tasks
When a task needs to be repeated at regular intervals and remains the same each time, you can set it up as a recurring task. Recurring tasks are ideal for activities that follow a predictable schedule and do not require multiple steps or record updates, such as monthly portfolio reviews, quarterly compliance certifications, or annual client birthday acknowledgments.
A recurring task is a single task that can be repeated daily, weekly, monthly, or yearly. The system automatically generates the next task in the series based on your defined schedule, eliminating the need for manual task creation and ensuring that routine activities start on time.
Recurring tasks should not be used when you need to complete multiple steps in a workflow or when task details vary from instance to instance. In those scenarios, processes offer greater automation and flexibility.
Please note: The Feed feature, while visible in recurring tasks, is preempted by the creation of multiple records at once, leading to a known Salesforce limitation that does not allow the Feed to function. If you want to create a Feed post on a recurring task, you will need to do so on the first task in the series, which contains all the recurrence settings, rather than the individual tasks within the series.
Processes
A process is a repeatable multi-step workflow that creates tasks in a specific order, allowing your firm to automate complex procedures that require multiple actions. Processes are powerful tools for streamlining your firm’s frequently repeated work, from client onboarding to annual review cycles to compliance workflows.
Processes can be launched from various record types and follow a predetermined workflow. As team members complete tasks in the process, the system automatically generates subsequent tasks based on their completion. This automation ensures that workflows progress smoothly without manual intervention and that each step happens in the correct sequence.
In addition to task generation, processes can update task and process outcomes and automatically change record stages. This functionality gives your firm end-to-end workflow automation that adapts as work progresses, reducing administrative overhead and improving operational efficiency.
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