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Managing Family members and their assets
Managing Family members and their assets

How to create different members and assign assets to them with our Family mode

Pierre-Luc Schaming avatar
Written by Pierre-Luc Schaming
Updated over a week ago

💡 Family mode is available for Finary Plus members.

With the Family mode, you can create an unlimited number of relatives and manage the investments associated with them.

Access the Family mode

The instructions below are for the mobile version. On the website, the logic is the same: go to your account settings, under the Family tab. Here is a direct link.

  1. Open your account menu of the mobile app (select your name at the top of the app dashboard)

  2. Under the My Finary section, select Family

Create a new member

  1. On the Family page, click Add a member. Only the first name is required.

  2. Click Add a new person

  3. Your member is created and you will be automatically redirected to the asset allocation page (see below).

Manage a Family member's assets

Assign an asset to a Family member

No matter which Family member you were viewing on Finary, new accounts or assets will be added with the primary Family member when created. You must edit it and assign it to the member(s) of your choice as indicated below.

  1. Select a member from your list then click on Edit asset allocation

  2. All of the assets and liabilities of your Finary account are displayed.

  3. Select the assets/liabilities you want to assign to the member

  4. Add this member to investment

  5. Adjust the ownership percentage of this member and click on Add

  6. Your member is now assigned to this asset/liability.

If you want to assign 100% of an asset to a member, just put 100% for that member, rather than changing the primary member's share to 0%.

Allocation of an asset between members

  • If only one member was linked to the asset when a new member is linked to it, then the distribution of the original member is automatically adjusted so that the total equals 100%.

  • If several members were already linked to an asset and you are adding a new member, the distribution is not automatic. You will need to adjust the percentage of each so that the total equals 100%, before saving the allocation.`

Delete a member's assets

  1. Go to the member's profile

  2. Click on his name

  3. Click Edit asset allocation

  4. Select asset

  5. Click the ✎ Edit icon

  6. Click Delete member

Asset allocation after removing a Family member from an asset

  • If, following a deletion, only one member remains present on the investment, then the shares of the deleted member are automatically allocated to them.

  • If several members remain present on the investment, you will have to adjust the ownership percentage for each one so that the total is equal to 100%, before saving the allocation.

Delete a member from your Finary account

  1. Go to the member's profile

  2. Click on his name

  3. Click 🗑️ Delete icon

  4. Confirm

Asset allocation after removing a Family member from your Finary account

  • Investments shared with only one other member: the share held by the deleted member is fully allocated to the remaining member.

  • Investments shared with several other members: the share held by the deleted member is divided equally between the remaining members.

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