1. Overview

The UA Manager™ is a cloud-based software application empowering advisors to offer valuable Unique Asset services to clients who own them. Our goal is for advisors to feel confident they can offer UA services their clients appreciate and are willing to pay for. We measure success by the number of times our licensees tell their clients “Yes, I can help you with that [insert UA type here]”.

2. UA Types

There are close to 1,000 Unique Asset types, grouped into seven main categories:

Each major category contains sub-categories. For example Real Estate’s sub-categories include:

    • Residential
    • Commercial
    • Industrial
    • Retail
    • Raw Land

Even sub-categories can be further divided. For example here are a few Commercial Real Estate sub-categories:

The UA Manager already accommodates nearly 1,000 UA categories and adds more each month.

3. The 3 Steps

There are hundreds of UA types – yet all of them can be managed by following a three-step process:

    1. Gather documents. One cannot manage a UA without knowing precisely what it is. (Consider a UA named the “XYZ Limited Partnership”. Does it own real estate, an oil well, a patent or what? If it owns real estate is it residential, commercial, retail or industrial? And if it owns commercial real estate what type – a hotel, a flea market… etcetera.) Job One is to gather enough information about the UA to know exactly what it is.
    2. Craft a Management Plan. Few people know how to manage a gas well – but a wildcatter does. An intellectual property attorney knows how to manage a patent, a life insurance expert knows how to manage a whole life policy. Having determined a UA’s type, Job Two is for an expert who has “been there, done that” to craft a Management Plan (a road map) to guide whoever will be responsible for managing it.
    3. Execute the Management Plan. With a Management Plan in hand, Job Three is to make someone responsible for executing the Plan, then verify he or she follows through.

The UA Manager solution was architected around this three-step approach. Let’s explore how it works.

4. Uploads & Asset View

The very first step is to upload information about the UA(s) into the UA Manager’s database. The method used is determined by how many UA are to be uploaded. To add just a handful (for example when onboarding a new account) use the app’s Start page.

But to add UA in bulk, create a spreadsheet listing for each UA six data elements. UA Central’s IT team will upload the spreadsheet into the UA Manager. Then anyone with authorization may access it.

Whichever approach one uses, the data will appear in the Asset View looking like this:

    • Column 1 displays the name of the account that owns the UA.
    • Column 2 displays the UA’s name, with a link to its own Main Page (see below).
    • Column 3 displays the UA’s status (always Information Gathering initially).
    • Column 4 displays the Advisor whose client owns the UA.

5. Main Page

The Main Page brings together everything relevant to that UA. The Account Name is displayed in the upper left-hand corner. The Asset Name is displayed in the middle. The beige octagons flag six especially important functions.

6. Contacts

#1 – Contacts. “It takes a village” applies to managing a UA: participants may include its owner, the owner’s financial advisor, perhaps a Subject Matter Expert, CPA, attorney, family friend, etc. In this section of the Main Form Contacts are displayed. The UA Manager makes it easy to add, update and delete Contacts, including their roles.

Benefit: up-to-date Contact information, all in one place.

7. Documentation

#2 – Documentation. Managing a UA means documents accumulate (i.e. check stubs, ownership documents, financial statements, appraisals, etc). The UA Manager provides a “virtual file cabinet” to store them, which anyone with permission may access.

Benefit: all documentation in one place, accessible whenever needed.

8. Activity Log

#3 – Activity Log. Managing a UA involves spending time on phone calls, emails, document filing and other short-duration activities. Although a UA may be touched dozens of time each year, if those touches are not documented it is hard to prove these interactions took place. The Activity Log automatically generates Log entries (who did what, and when) whenever anyone touches the file.

Benefit #1 – Risk Mitigation. These are litigious times. If clients become disgruntled for any reason their attorneys may be expected to turn over every rock in hopes of uncovering problems – including UA-related mismanagement. The Activity Log makes it almost impossible to argue a UA was mismanaged.

Benefit #2 – Fee Justification. UA owners often fail to appreciate just how much time is spent managing a UA. Sharing Activity Log entries from the prior year solves that problem.

9. Pending Items

#4 – Pending Items. This feature allows users to create “ticklers” reminding them to perform an action at a specified future date, and when that date arrives reminds users to follow up. (Plus records all this in the Activity Log.)

Benefit: By assuring things no longer “slip through the cracks”, UA management improves.

10. Asset Details

#5 – Asset Details. This section pulls together in one place key features of the UA. Should the person managing the UA become unavailable (on vacation, retired etc.), at a glance his or her replacement can see where things stand.

Benefit: all the essential information about the UA, in one place.

11. More Tab

#6 – More Tab. Every UA has elements unique to it (such as appraisals, inspections, insurance, financial statements, leases, ownership instruments, documentation, and so forth). The More tab is where users note key facts from those documents. To see when (for example) an insurance policy expires, no need to read through the policy stored in the virtual file cabinet, just check the More tab instead!

Benefit: saves time and effort, avoids mistakes.

12. Mobile App

To access the UA Manager’s functionality use your desktop computer or your mobile devices. The functionality is the same either way.

13. Optional Services

Advisors approach the three-step UA management process in different ways.

    • Some are “do it yourselfers” who prefer doing everything themselves.
    • Some prefer hiring a third-party to do the work for them.
    • Some like handling some functions themselves and outsourcing the rest.

No matter which approach an advisor prefers, the UA Manager will meet their needs. Do-it-yourselfers may use the app without outsourcing a thing. Advisors who prefer outsourcing can utilize a network of “subject matter experts” that UA Central maintains who are ready to help.

    • Gathering documentation for a UA is tedious work that can take weeks or months to complete (and at the end of the day, may fail even so). If asked to perform this service UA Central uses contractors to track down the documents, store them in the “virtual file cabinet” and note their key features in the More tab. (Hourly fee charged.)
    • Management Plans are best prepared by Subject Matter Experts who have “been there, done that” and are prepared to manage the UA if asked. If a client requests a Plan UA Central will use its best efforts to identify potential SMEs (using professional referrals and/or web searches), and hire one to create a plan. (Flat fee charged.)
    • Execute the Plan. At a client’s request a Subject Matter Expert (usually the person who crafted the Management Plan) will manage the UA (for a fee established by the SME and approved in advance by the client).

14. Licensing

Licensing. UA Central LLC licenses the UA Manager to qualified advisors. The cost to license the app is low so as to encourage its widespread use. Ask about a no-obligation trial period enabling firms to “test drive” the application before committing to license it.

UA Manager™. See the whole picture.  Call today.