Partner Account - A Partner is an entity (e.g. a Wealth Manager, Single Family Office, Robo Advisor etc) who is using Canopy to serve their customers.
A Partner Account will have its own segregated database inside the Canopy infrastructure. This database contains all the data of all Parent Accounts that belong to it.
A Partner Account can have infinite Parent Accounts.
Parent Account - This is the account of the asset owner and is typically an individual customer (person or entity) of the wealth professional using Canopy. A Parent Account usually belongs to a Partner Account. However for self directed customers, Canopy creates an independent Parent Account.
Each Parent Account has a unique username which is used to login to Canopy (if enabled). Individual members of a large family that require separate reporting will also each get their own Parent Account. Each Parent Account that is not under a Partner Account gets its own segregated database inside the Canopy infrastructure.
Each Parent Account can have an infinite number of Child Accounts.
Child Account - Child Accounts hold an asset or collection of assets that need to be tracked separately. Examples would be an account with a Private Bank or any directly owned asset. A Child account will always belong to at least one Parent account. However multiple parents can own the same child account (for example in a large family with complex cross holdings).
Each Child Account can have an infinite number of Currency Accounts
Currency Account - Each Currency Account has a specific currency (e.g. USD, EUR or Bitcoin) and belongs to a specific Child Account. There can be multiple Currency Accounts of the same currency in a particular Child Account (e.g. USD-01, USD-02, USD-03, JPY-01, JPY-02 etc.)
Transactions can only be booked in a Currency Account
Canopy Account Structure. A Parent Account may or may not belong to a Partner, but will always have Child Accounts.