We're back for Part II of WealthPoint Unwrapped. If you missed the first part, go back and read it so you're caught up!
Last time we unwrapped the basics of WealthPoint, and I gave you a hint about what this post was going to be about. Did you figure out my hint? Well if not I'll go ahead and spoil the surprise.
I am going to give you the top questions we, the analysts, get from you about WealthPoint. I'll even sweeten the pot and give you the answers that go along with those burning questions 
Let the conquering begin...in no specific order, except for this first one. This is definitely the number one question we get.
Q: What is my username and password for WealthPoint? or Why am I getting an error message about my username and password not being right for WealthPoint?
A: Your WealthPoint username and password are the same as your Blackbaud.com username and password. With that in mind, any updates to your username and/or password on Blackbaud.com take 24 hours to read over to WealtPoint.
Not into waiting for 24 hours? We have a utility that can push the changes through so you can access WealthPoint immediately. Contact via Case Central, Chat Support or call into Support and let us know your username and we can push the new username/password through.
Don't know your password for Blackbaud.com? We are ready for this! Just go to Blackbaud.com, put in your username and choose Need Password?. An email will be sent to you that will allow you to reset your password. Have you gotten that email and you don't remember the security question answer? Or maybe you don't remember your username at all?? No need to fret, we have you covered. Call into Support and we can let you know what your username is or send you an email that will allow you to completely reset this information if you don't know the answer to the security question.
Q: What are the search methods and how the heck are they different?
A: There are two search methods to choose from when searching WealthPoint. They are as follows (along with their differences).
Strict - This requires the user to supply the First and Last name of the prospect and at least one of the following: Home Address, Phone, Date of Birth, Business, or Business Address
Relaxed - This allows a user to search on First and Last name alone (This search method will yield more results but keep in mind that they are less likely to be your prospect. You will have to sift through the data to ensure that it is an actual match to your prospect and not just someone with the same name as your prospect.)
Q: What are match codes, how am I supposed to use them and where are can I find these codes?
A: WealthPoint accesses an enormous amount of Public and Private databases to create the profiles that are returned. With this in mind, it is quite possible that the Prospect you submit might have the same name or address as someone else. Match Codes are provided for each returned piece of data to help you, the client, better determine whether or not this is the prospect you submitted. (Basically, it lets you know WealthPoint's level of certainty that the information is your prospect.)
Review the Match Codes to help you determine whether or not you want to Confirm that the Match Detail really is your prospect.
Match Codes can be found on each Match Detail that is returned by WealthPoint. This is how the Match Codes appear in ResearchPoint, Researcher's Edge and The Raiser's Edge:
Match Codes in ResearchPoint Record:
Another Example of Match Codes in ResearchPoint:
Match Codes in Researcher's Edge Record:
Another Example of Match Codes in Researcher's Edge Record:
Match Codes in The Raiser's Edge:
Q: Why is WealthPoint returning all of these duplicate Real Estate records? More importantly, how do I make sure this doesn't over-estimate the value of this Prospects record?
A: The duplicate Real Estate matches is caused by Lexis Nexis providing us with two different data sources - tax records and deed records. The tax records show assessment and market value, and sometimes mortgage and sale information. The deed records show only sale and mortgage information. Sometimes a property is in one source, sometimes the other, and sometimes in both. You would find that if a research office has a subscription to Lexis Nexis and they search for the same property information, they'll find exactly the same multiplication of property records for single properties.
Another technique for resolving the over-estimated value is to sort the property list by address to quickly identify addresses with multiple records then look at the details of each and choose one to use as the value "of record." Then, for any other records associated with the same property, keep the record, but delete the "valuation value" (the bottom line value on the property record).
Q: I submitted a Prospect to WealthPoint and I know he is loaded (aka: rich)! Not very much Wealth showed up for the Prospect though. What did I do wrong?
A: Several things could cause this to happen...a couple are more frustrating than others so bare with me.
1. You might have used the incorrect Search Type. For example, you are using Strict search method and the Prospect only had Last Name populated on the record. Same thing applies if they have their First and Last Name but no Address information, while using Strict search. Either populate the required information or change your search method to Relaxed.
2. The Prospect has put their wealth under a different address. For example, the Prospect has multiple addresses and the one you have on their record is not the main address.
You can do one of two things in this situation, change the address to another known address for the Prospect and search WealthPoint again or try a Relaxed Search Method for the Prospect.
3. Another possibility is that the Wealth is under the Spouse's information. We can use the example of a lawyer. They might put their assets under the Spouse's name. This way, if they ever get taken to the cleaners for being a bad lawyer, the assets under the Spouse's name are less likely to be touched.
4. One final thought about why you might not get any Wealth returned or not as much as you thought would be returned. It's very simple and can be boiled down into one phrase...the wealthy hide their wealth...and I'm not talking about under their mattresses. Sneaky, I know, but let's be honest, you and I would do the same thing if we had that kind of money laying around.
So there we have it. The basics and FAQ's of WealthPoint have been unwrapped to you, our wonderful clients! I hope this has helped you in your understanding of WealthPoint...and if you already knew all of this, thanks for being a good sport and reading any ways
If all of this information has increased your hunger for more WealthPoint knowledge you might want to check out these links.
WealthPoint Essentials Training
(The above link has a great step by step training about WealthPoint for Researcher's Edge and ResearchPoint.)
Click here for a link to the WealthPoint section on the Blackbaud website
Please feel free to leave comments as well! The only way we know you have a question, comment, opinion or just want to say "Hi" is if you let us know. Happy Prospecting!
Okay, so you aren't on the wrong website. This isn't FoodNetwork.com and Marc Summers isn't going to tell us how our favorite food is made. I am, however, going to attempt to unwrap the mysteries of WealthPoint for you.
Let's cover the basics first:
What is WealthPoint?
WealthPoint is a service that can be used through ResearchPoint, Researcher's Edge and/or The Raiser's Edge to deliver detailed wealth identification information on your prospects. It's simple; you submit the prospects, allow them to process and import the results into your database. The information imported goes right into the records of the prospects.
What type of information can WealthPoint return on a Prospect I submit?
- Dun & Bradstreet - Employer and Career Information, Compensation, Private Stock Ownership, Mgmt Bios
- MarketGuide by Reuters - Biographical, Financial & Stock Option Data on Corp Directors & Officers
- Thomson Financial Corporate Insider Database - Public Stock Holdings/Trans. By Corp Officers, Directors, Major Shareholders
- Marquis Who's Who - Detailed Biographical Information including Interests, Children, etc.
- Larkspur Data - Presence of Luxury Items like Planes, Yachts & Large Retirement Plans
- Federal Election Commission - Information about contributions made to Federal Elections
- Donor Bank - Broad Range of Philanthropic Activity including Gift Type, Size, Recipient
- GuideStar Nonprofit Officers, Directors & Private Foundation Data - Philanthropic Activity of Non-Profit Officers and Board Members, Private/Family Foundations
- LexisNexis - Primary and Secondary Holdings of Real Estate including Properties in Trusts
- NOZA - Charitable Donations
How is WealthPoint going to be useful to me and my organization?
WealthPoint can help you:
- Identify your best major and planned gift prospects
- Attract and retain wealthy donors with improved donor service
- Maximize gifts by asking for the right amount at the right time
- Determine the wealth potential of your entire database
- Set reasonable campaign goals
- Free up staff resources for person-to-person fundraising
Now that I have tempted your prospecting palate with the basics of WealthPoint, I am going to leave you wanting more!
....I was never one for keeping secrets so I'll go ahead and give you a wee little hint about what the next installment of WealthPoint Unwrapped is going to be about. We will divide and conquer! Well...less divide and more conquer actually. Here is your hint: Clients call in about this all of the time.