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Manual Trades
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Most of the trading done in Advisor Rebalancing will be trades associated with the rebalance process. However, Advisor Rebalancing also has tools available that help you trade outside of the normal rebalancing process. Here, you’ll find information on manual trading.
Custom strategies, quick trades, and directed trades allow you to override restrictions. Directed trades allow you to choose which restrictions you want to override.
Directed trading enables you to focus on individual securities while trading across a set of accounts outside the constraints of a rebalance. Directed trades can also be used in conjunction with completing a rebalance on your accounts.
For more information on creating and executing directed trades, see Learn More About Directed Trades.
Custom strategies allow you to edit recommended trades or create your own on-the-fly trades outside of any recommended trades generated during a rebalance. Because you generate custom strategies in individual accounts or rebalancing groups, these are good for adjusting trades one account at a time.
To do manual trading for multiple accounts at once, create a directed trade.
When creating a custom strategy for a rebalancing group, edit trades when viewing the Rebalance Summary or Trade Summary at the rebalancing group level. If you edit the trades in an underlying account, Advisor Rebalancing removes the trades from the rest of the family members assuming that the account being viewed is the only account in which you are looking to trade.
To change a recommended trade listed on the Rebalance Summary, follow these steps:
Open the Rebalance Summary.
Click the Quantity ($) link for the security in which you want to create a custom strategy.
Make any changes needed to the trade.
You can also place the trade on hold. For more information, see Trades on Hold.
Click Generate Custom Strategy.
Click Approve Trades once all changes have been made. Approving the trades will approve all trades for the selected account and not just the selected trades.
To change a recommended trade listed on the Trade Summary or Trade Review, follow these steps:
Open the Trade Summary or Trade Review.
Click Edit Trades.
Make any changes needed to the trade.
To close Edit Mode, click Cancel Edit Mode. This will remove any changes you've made.
Click Save Edited Trades.
Click Approve Trades once all changes have been made. Approving the trades will approve all trades for the selected account and not just the selected trades.
When viewing the Rebalance Summary, you can also add a one-off trade for any securities not in the client's model.
Verify available cash before clicking Generate Custom Strategy, including available cash for other accounts in the rebalancing group, if applicable.
To add an unlisted trade, follow these steps:
Open the Rebalance Summary.
Click Symbol Lookup. This is located at the bottom of the Rebalance Summary, under the UNASSIGNED section.
In the Search securities box, start typing the name of the ticker. When you see it in the list, click it and then click Add.
Change your trade details. You can add multiple trades using this process.
The floating cash box on the right automatically updates the cash balance if a trade is edited or a new trade is added.
Click Generate Custom Strategy once you've finished making changes.
Approve the trades.
If viewing the Rebalance Summary for an individual account within a rebalancing group, open the Rebalancing Summary for the rebalancing group and click Approve Trades.
If the account is not part of a rebalancing group, click Approve Trades
You have the option to select specific tax lots for the sale on the Trade Summary and Trade Review pages using the Sell Lots feature. Sell Lots gives you the ability to sell lots based on their gain or loss amounts.
To choose lots for the sell, follow these steps:
Open the Trade Summary or Trade Review.
Click Edit Trades.
Choose Sell Lots in the Edit Trade list for any recommended sells.
Click Select Lots.
Make any changes to Sell Quantity in the Select Lots dialog box.
Click Save.
VSP trading may not be available, depending on the trade file or custodian you use.
Quick trades allow you to generate one-off trades on the Trade Summary or Trade Review pages, regardless of which securities are in the model. On the Trade Review page, you can use Quick Trade to create trades for multiple accounts at once in an easy-to-use interface.
The Quick Trade tool generates trades much the same way as when you generate a custom strategy, but trades are a little faster to create. On the Trade Review page, you can create a Quick Trade for multiple accounts. However, if you're applying a single trade to many accounts, it's best to use a directed trade instead of a Quick Trade.
You can override a security with restrictions using Quick Trade and a note will be required. Pay attention to warnings during the rebalance to ensure you're submitting the trades that you intend to submit.
In some rare cases listed below, you may execute a Quick Trade and the trade will not appear on the Trade Review:
If the security is on hold or has a restriction which would prevent the trade.
If the trade amount is too small to be recognizable.
When any account in the account's rebalancing group has holdings that meet the above two criteria.
To create a Quick Trade, follow these steps:
Open the Trade Summary or Trade Review.
Click the Quick Trades link.
Starting typing the name or account number for the account where you want to create the Quick Trade in Account. When it appears, select it.
If you're viewing the Trade Summary for a rebalancing group, select the underlying account in the Account list. If you're viewing a single account, this will be filled in for you.
In the Symbol box, start typing the symbol for the security you want to trade an click Add.
If you enter an account and symbol for which there is already a trade recommended, Advisor Rebalancing will update the trade to match the new trade.
Complete the Action, Quantity, and Quantity Type fields for the trade you're creating. You can add as many trades as you want.
Click Save when finished.
Approve the trades when you're finished making changes.
On the Trade Review page, select Approve Trades in the More Actions list.
On the Trade Summary, select the Approve Trades link.
When approving trades on the Trade Review page, approving the trades will approve all trades for the selected accounts and not just the selected trades.
