Back	Home > Advisor Rebalancing > Securities > Security Restrictions

Security Restrictions

Global Security Restrictions: Available Settings on the Restrictions Page

Account Security Restrictions: Available Settings on the Account Settings Page

Set a Global Security Restriction

Set a Security Restriction at the Account Level

Prevent Trades in Restricted Securities

Introduction

You can set security restrictions in two ways, at the global level and at the account level:

Global Security Restrictions	Account-Level Security Restrictions
Restrictions are set on the Restrictions page, under the Securities menu. Restrictions apply to any account holding that particular security.	Restrictions are set on the Account Settings page, on the Rebalance & Trade Settings tab. Only apply to that account(s) in which they're entered.

Top of Page

Global Security Restrictions: Available Settings on the Restrictions Page

You can set the following custom settings on the Restrictions page, which you can find by choosing Restrictions on the Securities menu:

Setting	More Information
Open / Close	Choose from one of these options: Open (Security can be purchased): This is the default for all securities; if selected, this security will not be restricted from trading. Hard Close (Security cannot be purchased): This restriction prevents the security from being purchased and only allows it to be sold in the account. This restriction instructs Advisor Rebalancing to minimize the frequency of all trading for the security. Notes If a security uses the Hard Close setting as well as the Hold Do Not Trade restriction at the same time, this can cause errors. It's best practice to use a Restriction setting instead of the Hard Close setting to get your desired behavior. Soft Close (Purchase if previously held): This restriction allows sells and purchases only when the security is already held in the account. For example, this is used for mutual funds that are closed to new investors.
Restriction	Choose from one of these options: None: This security has none of these restrictions applied. Hold Do Not Trade: The value of this security will be included in the total account value for any accounts holding it, but you will not be able to buy or sell the security in any of these accounts. This restriction is also the default for dummy tickers. You can enter a custom strategy to trade a security with this restriction. Note If a security uses the Hard Close setting as well as the Hold Do Not Trade restriction at the same time, this can cause errors. Buy only: This security can only be purchased in accounts, but not sold. You can enter a custom strategy to trade a security with this restriction, but this is not recommended. Sell only: This security can only be sold in accounts holding it but not purchased. You can enter a custom strategy to trade a security with this restriction, but this is not recommended. Unmanaged Asset: This value of this security will be removed from total account value and you will not be able to buy or sell the security in accounts holding it. You can add unmanaged securities to models with a 0% target. This is a global restriction that cannot be overridden by account-level settings.
Maximum percentage to hold	Enter the maximum percentage of account value you'll allow for this security. This is a global setting that will be used for any account trading in that security.
Do not buy in accounts below	Enter an account value for the security; if an account's value is below the amount entered here, that security will be restricted from purchase. This can be used for securities with a high value minimum requirement, so that the security won't be purchased in small accounts. Best Practices Consider using Trade File Group Settings to achieve your desired trading recommendations in a security, including the ability to set minimum investment size, initial investment size, and limiting securities to taxable or tax-deferred accounts.
Do not buy in taxable accounts	Select this check box to restrict the security from purchase in taxable accounts. This can be used for securities that advisors don't want to purchase in taxable accounts, such as mutual funds that distribute large dividends. Best Practices Consider using Trade File Group Settings to achieve your desired trading recommendations in a security, including the ability to set minimum investment size, initial investment size, and limiting securities to taxable or tax-deferred accounts.
Do not buy in tax deferred accounts	Select this check box to restrict the security from purchase in tax deferred accounts. This can be useful for securities that advisor don't want to purchase in tax deferred accounts, such as municipal bond funds. Best Practices Consider using Trade File Group Settings to achieve your desired trading recommendations in a security, including the ability to set minimum investment size, initial investment size, and limiting securities to taxable or tax-deferred accounts.

Top of Page

Account Security Restrictions: Available Settings on the Account Settings Page

You can set the following restrictions in individual accounts on the Account Settings page, which you can find by choosing Account Settings on the Accounts menu:

Setting

More Information

Symbol

Type the ticker of the security where you want to place the restriction.

Range to Hold

Select this option to define the lower and upper amounts you would like to hold in the security. You can define these amounts in either dollars, percentage of account, or number of shares:

Select to define the range in terms of percentage of account.

In the Min and Max fields, enter the minimum and maximum percentage of the account you'd like to hold in the security, in whole numbers.
If adding a restriction to a cash security, there must be at least a 1 percent difference between Min and Max. However, for all other securities, these values may be the same number.

Select to define the range in terms of dollar amount.

In the Min and Max fields, enter the minimum and maximum dollar value of the security you'd like to hold in the account.
This option is not available for cash securities.

Select to define the range in terms of specific share amounts. This option is not available for cash securities.

Buy/Sell Restrictions

Select this option to add a restriction on buying or selling the security. The following restrictions are available:

Hold All - Don’t Buy or Sell	Select to prevent all sells or buys of the security that account. The value of the security will count towards the account's total value. This option is not available for cash securities.
Unmanaged Asset	Select to make the security unmanaged in the selected account. This setting removes the security from total account value and prevents any buys or sells in that security. You can add a security marked Unmanaged Asset to a model.
Sell Only	Select to only allow sells of this security in this account. Buys will not be recommended.
Buy Only	Select to only allow buys of this security in this account. Sells will not be recommended.

Restriction Notes

Add notes to explain the restriction or give details about the restriction. For example, you can elaborate why the security is set to Sell Only or why you chose the Range To Hold amounts.

Top of Page

Set a Global Security Restriction

You can set global security restrictions on the Restrictions page, which you can find by choosing Restrictions on the Securities menu. Once you set global security restriction, these restrictions will extend to any accounts holding that security.

To set a global security restriction, follow these steps:

Under the Securities menu, click Restrictions.
Enter the symbol of the security on which you want to place a restriction in the Search securities box.
Click View Details.
Enter the appropriate restriction or restrictions for that security. For more information on the available settings, see Global Security Restrictions: Available Settings on the Restrictions Page.
Click Save.

Top of Page

Set a Security Restriction at the Account Level

You can set account-level security restrictions on the Rebalance & Trade Settings tab of the Account Settings page.

Notes

Once restrictions are set, Advisor Rebalancing will not recommend trades that violate the restrictions. If you place a directed trade or custom strategy trade that conflicts with the restriction, Advisor Rebalancing will show an error on the Rebalance Review, alerting you to the conflict.
An account cannot have multiple restrictions for the same security.

To set an account-level security restriction, follow these steps:

On the Accounts menu, click Account Settings and search for the correct account.
On the Rebalance & Trade Settings tab, in the Restrictions section, click Add. This opens the Security Restriction Settings dialog box.
Enter the appropriate restriction for that security. For more information on the available settings, see Account Security Restrictions: Available Settings on the Account Settings Page.
Click Add.
On the Account Settings page, click Save or Save & Rebalance.

Note

You can delete an account-level security restriction by clicking the Del link next to the restriction that appears on the Rebalance & Trade Settings tab on the Account Settings page.