Introducing Our New Online PortalSubmitted by Karstens Investments on May 3rd, 2018
By Corey A. Voorman, AIF
Q: I. Why is Karstens Investment Counsel adding an online portal?
A: With the recent changes in technology, Karstens is committed to offering the best to our clients. Clients will be able to easily view their investment accounts and other assets in one place with one password. Clients will be able to store important documents in a secure vault and eventually generate reports detailing their financial situation.
Q: II. Do I have to use the Karstens Portal?
A: The choice is yours. Some clients use all the features of the portal. Others do not use it at all. The Portal is offered as an optional benefit to all clients.
Q: III. Is the Portal secure?
A: Yes. The portal is designed explicitly with security in mind. Our portal provider works with numerous top-of-the-line financial institutions to protect client information and data. Additionally, two-factor authentication is a standard feature which means no one can access the information without verifying identity via text message.
Q: IV. What assets can I connect to Karstens Portal?
A: The portal has two different ways you can input your assets, live connections and manual entry. First we will start with live connections. These include most accounts that you have a log in ID and password, such as:
- TD Ameritrade, Charles Schwab & Other Brokerage Accounts
- 401(k), 403(b), and 457(b) accounts (most employer sponsored retirement plans)
- Health Savings Accounts
- Life Insurance Policies; Term, Whole and Variable
- Annuity Policies
- Mortgage balances
- Personal lines of credit,
- Bank Savings, Checking & Money Market Accounts
Manually Entered Assets: These assets are part of your net worth, but do not have a log in ID associated with them. These assets are added from our notes and can be changed or edited by reaching out to the Karstens team.These include:
- Your Home or other Investment Real Estate
- Accounts Receivable & Loans
Collectables such as art, cars or coins
Ownership of commercial real estate
Personal Properties (home or cottage values)
Note: You have the opportunity to add or exclude any assets if you so choose.
V. Once I have access to the Karstens Portal, how do I connect the assets I want to add?
1) Log into the Karstens Portal
2) On your home page find and click on the “Organizer” tab. (second from the left)
3) Choose “Accounts” located at the top left
4) Choose “Add” at the top right of the screen
5) Type the name of the financial institution your account is held at and follow the specific instructions.
VI. Once I link an asset to The Portal will I have to update it?
Once an asset is linked to the portal it will automatically update the values of that asset. Sometimes a link will be broken, this is because the financial institution will change an aspect of their website. To remedy this, follow the instructions to fix a broken link.
VII. The Portal says “Connection Error” how to I fix the link.
Sometimes a connection is broken between an outside institution and the Karstens Portal. Many times, this can be fixed by following the prompts on screen to refresh the connection. To fix a lapsed connection:
1) Log into your Karstens Portal Account
2) Choose “Organizer Tab” at top of page
3) Choose “Accounts” located on the left of the page
4) Address lapsed accounts by choosing “Click to fix”.
VIII. Can I choose which assets to add to The Portal?
Yes. The assets you choose to add are entirely at your discretion. Some clients add all their assets and others choose to have some excluded. If you would like to make a change to what assets are shown, please reach out to the Karstens Team.
IX. How do I log in to The Karstens Portal?
Reach out to the team at Karstens and we will send you a one-time link to create your account. We have already connected your Karstens accounts and added other assets from our notes.
X. Will The Karstens Portal replace my outside assets displayed on my statement?
Yes. Eventually. We are working towards using Karstens Portal to be the sole means by which clients can see all of their assets in one place.
XI. Can I access the Karstens Portal from mobile phone or tablet?
Yes. Many of our clients have access to the portal via smart phone or tablet. Additionally, you can add the Karstens Portal to your home screen of your mobile device. Please note that some options that are available on the Desktop Version may not be available on the mobile version.
XII. Can I place important documents in the Karstens Portal vault for safe keeping?
Yes. All clients have to opportunity to place important documents such as Wills, Trusts, Deeds and Titles in the Vault Section for safe keeping. Having a list of your assets and the estate planning documents in one place can greatly aid in your heirs process of inheriting the assets you choose to pass to them.
XIII. What are the reporting functions of the Karstens Portal?
Clients have access to several reports with the Karstens Portal. The Portal can provide Balance Sheets, Net Worth Statements, Asset Summaries to name a few. Please note that the reports provide only the data that is entered and connected to the portal. If you would like to change the data, please reach out to the Karstens Team and let us know. We are currently working to optimize reporting options for our clients.
XIV. If I have questions about the Karstens Portal, who should I ask?
Call into our office 402-492-2727 and we will help answer any questions you may have. You can also email your advisor your question and we will answer it.
Instructions for adding outside accounts to Karstens Portal:
1. Log into the Karstens Portal
2. On your home page find and click on the “Organizer” tab. (second from the left)
3. Choose “Accounts” located at the top left
4. Choose “Add” at the top right of the screen
5. Type the name of the financial institution your account is held at and follow the specific instructions.
Instructions for fixing a lapsed connection:
5) Log into your Karstens Portal Account
6) Choose “Organizer Tab” at top of page
7) Choose “Accounts” located on the left of the page
8) Address lapsed accounts by choosing “Click to fix”.