What are Products?

Products are the different policies and accounts that you offer to your clients. Each product has it's own Institution, Product (name of the product), Product Type, and Status, Status Date, and Plan Type. For example, creating a new Allianz 222 product would look like this:

Once the product has been created and assigned to your contact, this information will display on their contact page grouped by the corresponding product line.

Where do I go to view my Contact's Products?

From the contact's page, navigate to the Product Line accordion for the corresponding product and click the arrow to expand and display products.

Product Information

Product Status Indicator: The core state of a given product status (i.e. Pending, Open, Closed, Expired, and Lost) and can be used in automations.
Plan Type: The plan type associated with this product (i.e. PPO, Qualified, Traditional IRA, etc.).
Product Type: Types or categories for the product (i.e. Term Life, Fixed Index Annuity, Retirement, etc.).
Institution: The carrier, broker-dealer/custodian, or bank that the product comes from (i.e. Allianz, United Healthcare, Charles Schwab).
Product Name: The Name of the product you offer to clients.
Product Status: The current status of the product (i.e Pending, Active, Cancelled, Terminated).
Product Status Date: The date associated with current Product Status
Product Number: The unique number that identifies the owner of an account or policy.
Region of Business: The corresponding region or state a financial professional conducted business for opening this account or policy.
Values: The different types of values you can store for a given account or policy (i.e. Cash Value, Death Benefit, Account Value, etc.).

Adding New Products to Swivel

Swivel gives you two options to add products.

New Product Wizard: This is the most direct way to add your client's products and accounts, as well as any associated policy values and agent commissions! Once added, the product names are stored for future use.
Advanced Settings: Any user with the Owner role may add products by accessing the Advanced Settings menu. Products created here will be available for all users to use.

Create New Product using the New Product Wizard

Once you are ready to assign a Product to a contact, navigate to their Contact Page> click +New Product button
Complete the New Product Wizard
1. Step 1: New Product
  1. Institution: this is the insurance carrier, custodian, or broker-dealer the product originates from.
  2. Product: the name of the policy or account (i.e. Allianz 222 Annuity)
  3. Product Type (if applicable, note this field will only display if you are adding a net new product).
  4. Agent of Record
  5. Status: the status of the policy (i.e. In Progress, Application Submitted, Active, etc.)
  6. Status Date: Date the product moved to the above corresponding status
  7. Open Date if applicable
    The Open Date (also referred to as the Effective Date or Issued Date) is used to accurately represent the policy’s official contract and anniversary date. This is the date used for filtering the Annual Review Report.
    The date filter and column on the Product Report still displays the Open Date.
  8. Issued Date if applicable
  9. Effective Date if applicable
  10. Closed Date if applicable
  11. Plan Type
  12. Owners: the product owner(s)
  13. Insured
  14. Beneficiaries
  15. Number: The contact's policy or account number for this product
  16. State of Business
  17. Opportunity (if applicable)
  18. Once complete, < click the Next button to proceed to step 2 or click Save button to exit the wizard.
2. Step 2: Add Transactions
  1. Transaction Type
  2. Date
  3. Amount
  4. Repeat Frequency
  5. Responsible
  6. Reference #
  7. Additional Reference Information
  8. Note
  9. Once complete, < click the Next button to add policy values or skip to step 3, or click Save button to exit the wizard.
3. Step 3: Add Commissions
  1. Commission Type
  2. Date
  3. Commissionable Amount
  4. Status
  5. Repeat Frequency
  6. Agent
  7. Split
  8. Rate
  9. Once complete, < click the Save button to exit the wizard.

🔍 Tip: To skip Step 2: Add Transactions and/or Step 3: Add Commission, simply click Save from Step 1: New Product.

🔍 Tip: If you progress throughout the entire wizard, clicking Save from Step 3: Add Commission will save all applicable information entered from Steps 1, 2 and 3.

Product Dates

For greater visibility into product information, the Status, Opened On, Issued, Effective, and Closed date can be added from the New Product Form and display on the product card in the products accordion. If no value is present in the date field, then it will not show on the card.

📌 Note: The Status Date, Open Date, Issued Date, Effective Date and/or Closed Date can be used for Automations so we recommend to complete these fields.

Add New Products from Advanced Settings

🚨 Warning! Only users with the Owner role can access Advanced Settings which is a requirement for adding new products. Please reach out to your organization's system admin with any questions.

From the main navigation menu, > click Business Management > Carrier & Institutions
If the Financial Institution already exists, continue to step 3; if the Financial Institution does not exist, >click +New Institution select the appropriate Institution Type and complete the New Institution Form.
1. Legal Name Required
2. Common Name Optional
3. Description Optional
4. Phone Number Optional
5. Fax Optional
6. Tags Optional
7. Click the Save button
From the main navigation menu, > click Settings > click Advanced Setup > click Product
Select the Products tab > click +New button and complete the New Product Form *NOTE: This is not the same as the New Product Form accessed from the contact's page.
1. Product Offering Type: Select from the drop-down. If the desired Product Offering Type does not exist, you will need to create it using the Product Types tab in Advanced Setup.
2. Name: Product Name
3. Description Optional
4. Institution: select from the drop-down
5. Default Statement Frequency Optional
6. Expire Duration Optional
7. Manage Custom Fields Optional
Click Save button

🔍 Tip: Need more examples or have questions? Visit our Products FAQ section for use-cases, troubleshooting, and specific content.

What if I have a Book of Business, can I import that?

The best way of getting your client's product information into Swivel is to reference the Book of Business for each carrier. This will have your client's personal information as well as product information including policy number, name, status, and additional information.

📌 Note: Interested in completing a Product Import? Submit a Book of Business ticket and our Customer Success team will reach out with next steps!

Swivel Import Templates

Automations

Products

FAQs: Swivel Sync

Data Cleanup After Migrating from Wealthbox