Training Part III
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Multi Household Workflow, filters, functionalities
Trade Proposal Screen details with workflow definitions and steps
Replace functionality
Household Portfolio Analysis:
Household Portfolio Analysis will show total AUM as well as households requiring review based on the
type of issue identified (out of balance, cash needs or tax loss harvesting). In the demo data below, we
can see that the advisor manages total AUM of $54,822,031. 31 households are out of balance, while 6
have cash needs and 7 are tax loss harvest opportunities.
Advisors can search by Household, Advisor Set, Rebalancing Set and by Model type. Search results may
be filtered by Advisor Set, Rebalance Set, OOB % and Model. Each of the columns are sortable as well.
In a drop down for Multi-HH functions advisor can choose to harvest the losses for all Households with
TLH opportunities.
When you select HARVEST TAX LOSSES, in the upper right corner of the page, trades for all of those
selected will be pushed to the Trade Review screen for your review, approval, and upload to the
custodian.
Workflow/trade review:
The Trade Proposal Management screen details each proposed trade and can be filtered by type of
transaction, by review set, by advisor set or by review status (at the top of the screen). Looking at the
Anderson Household the advisor can review specific trades proposed, edit trades, view a summary of
costs/benefits and choose to move one or all trades within a certain status group (for example “review”)
to the next level of review (for example, “LVL 1 review”). Once trades are moved to the “Trades” status,
a custodian specific trade file is generated and it can be uploaded if permissible by your custodian.
The Summary box provides information on year to date gains and losses coming from your portfolio
account system as well as costs and tax benefits achieved from the transaction. In this case, there were
no Year to Date gains, and no ST or LT gains, transaction costs total $110 and total tax savings is $47.
The advisor can also look at the “before and after” out of balance report if Rebalance Allocation tab is
selected.
Replacement functionality:
By clicking the logo, the advisor can return to the dashboard screen at any time. Clicking on “I want to go
to” allows the advisor to navigate to any screen. In this case, the advisor will choose Replace.
Once in the Global Replace function you can choose to replace fund A with fund B in all accounts,
taxable accounts only, nontaxable accounts only, TLH lots only, or Tax Gain Harvesting lots only.
Homework assignment before next session:
1. Go to Household Portfolio Analysis and filter by:
a. Model and then rebalance all that are OOB, or
b. OOB > 10% and rebalance all that satisfy OOB search criteria.
2. When on Trade Proposal Management screen
a. Review trades with/without Location Optimization.
b. Review View Summary.
c. Review Rebalance Allocation for before/after trade allocations.
d. Under Select Action Review Cash, Notes, Workflow history.
e. Under Select Report choose all three options and choose which one you like the best.
f. Review if any Trading constraints.
g. Move several of your reviews to LV1Review, then to Hold, then to Trades. Once trade
file is generated TRX writes it to History.
3. Go to Replace function and replace a fund with another fund on all accounts; before you chose
CREATE PROPOSAL you can deselect any HH you wish.