After a new client has been added to your Gemifi account, you can then start adding their equity information to their profile. This article will walk you through how to add/edit a client's equity data.
Adding a client's equity
1. To get started, you'll first need to make your way to the client's profile page. On the Clients page, click the row with the client's name and email address from the table. Once clicked, you'll be taken to that specific client's profile page.
2. To add a client's equity, select the Equity button from the Clients menu.
3. On the Client Equity page, you'll see four action icons in a row. From left to right:
ShareWorks PDF Upload (file upload icon) — Upload a ShareWorks brokerage statement PDF. Gemifi will automatically parse the equity grants from the statement. Select a company first, then drag and drop the PDF file.
Quick Add (stacked pages icon) — Manually add a single equity grant by filling in the details: Nickname, Equity Type (RSU, ISO, or NQO), Company, Quantity, Grant Date, and — for ISOs/NQOs only — Strike Price and Expiration Date.
CSV Upload (+ icon) — Upload a CSV file with the client's equity information in bulk. Click the Download Template button to get a pre-formatted CSV template with the required columns.
Sync FMV (sync icon) — Update the Fair Market Value for all of the client's equity grants to the latest stock price or 409A valuation. This icon only appears if the client has at least one equity grant.
Uploading equity via CSV
1. Click the CSV Upload icon (the + icon) on the Client Equity page.
2. Select the Download Template button to download the CSV template with the appropriate fields. Use this template to fill in the details of the client's equity.
3. Once the CSV has the client's equity information filled in, save the updated file and drag or upload the CSV to the upload modal.
When uploading from a client's equity page, the Email column is optional since the client is already selected.
At minimum, there must be at least 1 Grant in the CSV.
Exercise Lot and Sale Lot are not required fields. All other fields are required.
4. If the uploaded CSV has an error and can't be uploaded, a Not valid error message will appear on the file. The error message with details of what needs to be fixed will be shown below the upload field.
5. If the uploaded CSV has no errors, a Valid message will appear on the file. A Data Preview table and a Parsed Data table will be shown so you can verify the upload. Scroll to the bottom of the modal and select the Submit button to save the uploaded equity to the client's account.
6. The uploaded equity will now appear on the Client Equity page for that specific client.
For bulk importing equity across multiple clients, you can also use the Import page from the main sidebar menu. See the Importing Equity Data article for details.
Updating the withholding rates for RSUs
If RSUs are added for a client, it's important to update the withholding rates for State and Federal taxes in order to maintain accuracy for the client. This will need to be done for each unique grant, as any updates on one grant will not carry over to the other grants.
1. Under the Client Equity section for a client, select a grant to be brought to that grant's overview page.
2. First select the Vesting Schedule dropdown menu to view the vesting table. Next select the Recalculate tax withholding button to make changes for State and Federal withholdings.
3. Once the Federal rate and State rate fields are updated, select the Submit button to change the calculations. Once saved, the withholding quantities for that grant will update based on the new rates.
Note: Gemifi uses a default combined withholding rate of 32% (federal + state). The federal and state rates must sum to 100% or less. When rates are updated, Gemifi automatically drops all existing withholding actions and rebuilds them with the new rates.
Deleting a client's equity
1. To delete a client's equity, select that row on the Client Equity page to open the edit view for that specific equity.
2. Select the trashcan icon in the top left corner next to General Info to delete that specific equity.