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Manager Platform Guide - How do I add an Investor Account?
Manager Platform Guide - How do I add an Investor Account?

You can add Investor Accounts on behalf of your investors

Joni Reeves avatar
Written by Joni Reeves
Updated over a week ago

Investor Accounts are the legal entities that your investors use to commit to a position in your offerings. All agreements, documentation, contributions, and distributions are associated with investor accounts. While investors can create an unlimited number of investor accounts of several different types, you can also add them on their behalf when you choose the Investor Account menu option.

To create an Investor Account on the investor's behalf:

=> Select Menu from the Home Dashboard

=> Then select Investor Accounts

=> Click on the + New Account button at the top right

Investor Account Details

The page for entering the details for the new account is displayed. You will be asked for

  • Contact (Account Administrator) - the name of the person managing the Investment Account and receiving all correspondence concerning investment activity. The person identified here must already be in your list of contacts.

  • Investor Account type - Choose from Corporation, Employee Benefit Plan, Individual, IRA, Joint Ownership, Limited Liability Company, Limited Partnership, Trust

  • Entity Name - Legal Investor Account name (e.g. Olivado LLC)

  • Tax ID type - Choose from EIN, SSN, Foreign Tax ID

  • Tax ID - Enter the number for the tax type you selected.

  • Date of birth - Only required if the Investor Account Type is "Individual"

  • Account Address - Provide the legal address for the account

Payment Instructions

Distribution payments are paid to the Investor Account, not the investor directly. Payment instructions are maintained with the Investor Account and required when the Investor Account is created so that distribution payments can proceed without error. There are three possible options for the method of payment and each requires details to fully define the payment instructions. Although payment instructions are required to add the Investor Account, keep in mind that the investor has the ability to revise them in the Investor Portal.

To complete the steps to create an investor account, choose a payment method. After making a selection, click on the Configure button in the lower right-hand corner and you will be prompted for the required details.

ACH Direct Deposit

If you choose this method, keep in mind that:

  • The maximum amount for ACH direct deposits is $250,000.00

  • ACH currently supports U.S. Bank Accounts only

  • U.S. law and KYC/AML compliance requires verification of all users who are funding through electronic transactions - that includes you and your investors - which can take up to three business days

  • ACH transactions generally take 3-5 business days to complete

If you choose this method, you must complete the setup. If you attempt to Save without the details, you will get Request failed with status code 400. To correct this error, either add the ACH configuration details or choose a different payment method.

To set up ACH, you must provide:

  • Account Name

  • Bank Account Type

  • Account Number

  • Bank Routing Number

After providing all the required information, click Save.

Mail Check

You can use the address set up for the account or specify a different mailing address for the payments. If the investor does not want to provide bank details via phone or email, choose this option and the investor can access the Investor Portal to change the method and provide the configuration details.

After updating the address fields, click Save.

Wire

To set up a wire transfer for distribution payments, you must provide:

  • Beneficiary Details

  • Financial Institution Details

  • Bank Account Details

Once all required fields are complete, click Save.

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Support Information

If you have more questions or feedback, please use the live chat in-app (located in the bottom right corner) or contact [email protected].

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