STRATEGIES FOR CREATING PORTFOLIO RULES FOR CLIENT LISTS
There are many reasons why segmenting your client base can be helpful, especially when you are managing
data for several accounts at once in a database similar to PortfolioCenter. This document is designed to help
you think about the process of creating client lists in PortfolioCenter and guide you to some resources to help
you create and manage those lists once you are ready to use them.
There are two primary uses for Portfolio Rules in PortfolioCenter:
 Smart Sets – used in global functions such as global reports, interval and/or billing calculations, wizards
and exports, sets provide you with a shorter list of clients so you have fewer accounts to manage during
these functions. A Smart Set includes only the accounts that meet a saved set of specified criteria (called a
Rule in PortfolioCenter) in account details and can be updated regularly as account details change.
 Portfolio Views – Like the Smart Set, a Portfolio View is a filtered list of clients based on a Rule. However,
in addition to the filtered list, a View contains columns of data from account details to show you details you
may need to perform certain functions successfully. For example, you can create a view of taxable
accounts and include columns of data to include the taxable check box, State of Primary Residence, and
other important settings in the portfolio details. You can use Views on the Main Portfolios tab as well as in
the Portfolio Data Manager and the data is updated each time you save or run the rule.
PARTS OF A PORTFOLIO RULE
A portfolio rule defines what portfolios are included or excluded from the list. At minimum, you must define a
single criterion for the rule that contains at least one field (column), one operator, and one value. Let’s
describe these parts using the example of building a rule based on the Advisor named Adam.
 Column – the portfolio and/or group detail field and it can be any standard or custom field. The data in this
setting is telling the rule to look at this field. For example, if you select Advisor Name – a standard column –
in this field, the rule is only going to look at the Advisor Name field when the rule is activated for a Smart
Set or a Portfolio View.
 Operator –the part of the statement that determines what – or how much – of the column (field)’s value to
consider. The number of operators available depend on the data type in the column; can be mathematical
symbols (=,<>, >, <, etc.), usually for numerical or date fields, and/or statements (is blank, is not blank,
starts with, ends with, contains…), usually for text or list fields. Using the example above, we want to
include accounts that have the Advisor Name Adam in the portfolio details, so we’d select = as the
operator.
 Value – the contents of the field you want to include in the evaluation. This part of the setting should be
data you would normally find in the field, such as list values, numbers or text. Using the example above, we
want to include accounts that have the Advisor Name Adam in the portfolio details, so we’d select Adam
from the list as the Value.
At the end of this example, the argument for the rule is Advisor Name = Adam.
DocumentID: SPT012533
Last Updated: April 18, 2013
GROUPING CRITERIA
A single criterion is the minimum requirement. However, to create truly targeted and useful rule, you can
group multiple criteria. You can group criteria to include all, any or some combination of all of some kinds but
not all. There are two levels of grouping
Grouping Criteria (AND / OR) – this
grouping option is found inside the Define
Criteria dialog.
This grouping option allows you to string
together several criteria together to make
a criteria set.
 AND includes only the portfolios that
contain all of the arguments in the
criteria set. The more arguments you
add, the smaller the list becomes.
 OR includes portfolios that contain any
of the arguments in the criteria set. The
more arguments you add, the larger
and less filtered the list becomes.
In the example above, the rule states that the result list should include any portfolio that has either John or
Adam as the advisor will be included in the results.
Grouping Sets of Criteria
(ANY / ALL) – this grouping
option is found on the Edit
Rule details.
This grouping option allows
you to group criteria sets
built in the Define Criteria
dialog.
 ALL includes only the
portfolios that meet all the
criteria and/or criteria
groups created in the
Define Criteria dialog. The
more arguments, the
smaller the results list.
 ANY includes portfolios that meet any of the criteria and/or criteria groups created in the Define Criterial
dialog. The more argruments, the larger and less filtered the list.
In the example above, the rule states that the result list should include any portfolio that is in billing cycle 1,
is open and a billiable client and has either John or Adam as an assigned advisor.
Note
Although the examples in this section only show Portfolios, the same information applies to Groups.
However, be careful in how you create rules that include both portfolios and groups because you
may have a situation where a group AND a member portfolio are a part of the results list. For that
reason, you may want to consider creating rules for groups separately from rules for portfolios.
Strategies for Creating Portfolio Rules for Client Lists
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PLANNING CLIENT LISTS
The most successful implementation of portfolio rules is the result of planning. Use this checklist to guide you
through the planning and implementation process
Plan for lists based on functions you perform. For example, if you have different billing scenarios, plan
to create a list for each billing scenario, or if you have different reporting functions, plan to create a list
for each type of reporting. If you need help with ideas for planning lists, see the document
Top Rules to Consider when Organizing Your Clients for commonly created lists.
Once you know lists you want, plan for the data you need to support those rules. Evaluate the data
you have in the standard fields, review the custom fields you already have in the database, and make
a plan for creating new custom fields. When and where possible, plan to use default values to
streamline data entry so new accounts are automatically set up to be incorporated into the
appropriate client lists. See the documents Defining Custom Portfolio Fields and Using Default Values
to Streamline Data Entry for more information.
Use the Portfolio Data Manager to populate the data you need to support the rules. Use the All
Portfolios and/or the All Portfolios and Groups views and add the columns for the data you need to
validate and/or enter. Use the powerful sort and filter functions in the view to ensure the data is
complete. See the document Working with the Portfolio Data Manager for more information, tips and
techniques for working with data for the Portfolio and Group details.
Build the rules in the Rules Manager and check the results before applying them to views and/or
smart sets. See the document Working with Rules for more information about using the rules
manager to create and test the rule results.
Use the same rule to create a View that can be used both in the Portfolio Data Manager and on the
main portfolios tab, and Smart Set, which can be used for global reporting, wizards and exports. For
more information about the various ways to create a view, see Views Overview: What They Are and
How to Use Them and for more information about creating a Smart Set using an existing Rule, see
Using Set Builder to Create a Smart Set.
Train your staff on the appropriate way to enter and manage data in the portfolio details so that once
the lists are implemented, they are maintained properly. Use the resources available in the
Data Management portion of our Learn How section on schwabpt.com to help you train your staff.
If you need additional assistance with training, see the Training options available on schwabpt.com.
For institutional audiences only.
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Strategies for Creating Portfolio Rules for Client Lists
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