Every asset on a client's Balance Sheet can carry two separate pieces of information: who owns it and who is named to receive it. Recording both gives you a reliable picture of how a client's affairs are actually organized, and helps surface where their titling doesn't match their intended estate plan.
There are two ways to assign both ownership and beneficiary designations to an asset: one at a time, or in bulk across several assets at once. Both methods use the same fields, so you can mix and match depending on how many assets you're updating.
Assigning ownership
Option 1: On a single asset
From the client's Balance Sheet, select the asset you want to update.
Select the Ownership tab.
Click Add Owner and choose an owner type: Individual, Joint, Trust, or Entity.
Select or create the contact who owns the asset, then set their share as a percentage or a fraction. Repeat for each additional owner — shares across all owners can't add up to more than 100% (or 1, if you're using fractions).
If it applies, indicate whether the owner's interest is community property.
Save the asset.
Option 2: In bulk, across multiple assets
Use this option when the same owners and share breakdown apply to several assets at once — for example, a married couple who jointly owns multiple accounts.
From the Balance Sheet, select the checkboxes next to the assets you want to update (or select an entire category at once by checking its header).
Click Assign Ownership in the toolbar that appears.
Design the ownership structure — owner type(s), contacts, and share percentages or fractions — the same way you would on a single asset.
Confirm the list of assets the structure will apply to, then click Apply.
If any selected asset already has ownership assigned, you'll be asked to confirm the override before it's applied.
Assigning beneficiary designations
A beneficiary designation records who a client has named, outside of their Will or Trust, to receive an asset directly — common for retirement accounts, life insurance, and similar assets. Not every asset type supports a beneficiary designation; where it doesn't apply, the Beneficiary Designations tab will let you know.
Option 1: On a single asset
From the client's Balance Sheet, open the asset you want to update.
Select the Beneficiary Designations tab.
Click Add Primary Beneficiary, select or create the contact, and set their share as a percentage or a fraction.
To add a contingent beneficiary — someone who only receives a share if a primary beneficiary is no longer living — open that beneficiary's menu and select Add Contingent Beneficiary.
If there's more than one primary beneficiary, specify whether a contingent beneficiary vests after all primary beneficiaries have passed away, or after one specific primary beneficiary has.
Save the asset.
Option 2: In bulk, across multiple assets
From the Balance Sheet, select the checkboxes next to the assets you want to update.
Click Assign Beneficiaries in the toolbar that appears.
Design the beneficiary structure — primary and, if needed, contingent beneficiaries, their shares, and the contingent trigger condition.
Confirm the list of assets it will apply to, then click Apply.
If any selected asset already has beneficiaries assigned, you'll be asked to confirm the override before it's applied.
A few things to know
Ownership on an entity that's partly owned by a third party (not fully owned by your client) is recorded from the Entity Card under the client's People & Entities tab, not from the asset itself.
The Ownership and Beneficiary Designations tabs aren't shown for asset types where they don't apply.
Recording ownership and beneficiary designations in Wealth.com doesn't change them with the client's custodian or institution. It gives you and your client one place to see how assets are actually titled today, and where updates with the institution may be needed.