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Synchronize Data from PortfolioCenter
Tamarac relies on Portfolio Accounting Systems (PAS) like PortfolioCenter to provide underlying data such as account details, security details, transactions, and prices. You must sync Tamarac to update data that has changed in your PAS. During the sync, Tamarac imports data for the date range specified.
Syncs occur in the following situations:
Daily Morning Sync. For firms using Advisor Services, Tamarac teams your Advisor View data with PortfolioCenter every morning. You don't have to do anything; this sync occurs early each morning to ensure that your firm has the latest account values, performance numbers, holdings, and transactions every day.
When Portfolio accounting system data Change. Sometimes you need to adjust PortfolioCenter to reflect a price change or a transaction that happened in the past. This type of data correction occurs occasionally, and you must sync before you see any PortfolioCenter corrections in Advisor View.
When you want to run a sync during the day, you can choose to run the sync yourself or to ask the Tamarac Support team to run a sync for you. If the Support team is helping you correct PortfolioCenter data, likely they'll run the sync for you.
Clients and firm users will not be able to access Tamarac during a sync.
When running a sync, you must decide how far back you want the sync to go. To make this decision, remember that the farther back a sync goes, the longer it takes. Because you can't access the site during a sync, you'll probably want to go back the shortest amount of time possible. Although you can sync back to inception, you'd only choose to do so under very rare circumstances.
As a best practice, run a sync only as far back as you need to capture the change that will impact returns or holdings within the period. For example, if you updated a transaction, price, or manual security snapshot from six months ago, run a six-month sync to see those changes.
An inception to date sync recalculates all your values through your entire history. Use it any time you enable a feature that fundamentally changes how Tamarac calculates holdings or cost basis or when you make a change that impacts historical values across all accounts. For example, an inception to date sync is appropriate in the following circumstances:
To capture changes that occurred a long time ago if you aren't sure of the exact timing.
You turned amortization on or off.
You changed all your security categories.
You enabled or disabled accrued dividends.
To synchronize data:
On the Setup menu, click Sync From Portfolio Accounting System.
In Sync data from , select the number of days of data you want to synchronize, and then choose from any of the following settings:
| Setting | Description |
|---|---|
| Sync data from the | Determines the time frame for the sync, based on number of days |
| Export to Advisor Rebalancing after import | Choose whether the sync will also export to Advisor Rebalancing once you've completed the import. |
| Include trades for reconciliation for | Allows you to set the sync period for the trades for reconciliation. |
| Include recent trades for | Allows you to set the sync period for the recent trades for reconciliation. |
| Also import additional data for accounts that have been updated since the last sync | When this check box is selected, Advisor View will look to see if any transactions have been updated in your portfolio accounting system prior to the last sync date and then adjust the “start” date of the sync. For more information, see Smart Syncs. |
| If the sync fails, send an email to following recipients | Enter an email where notifications will be sent if the sync fails. |
| Refresh account sets |
Select this check box to refresh the rule-based account sets automatically. When you view the Account Set, Advisor View will automatically calculate performance if:
If the Account Set does not meet the criteria above, Advisor View will prompt you to recalculate performance. |
Click Sync.
When you calculate performance, Advisor View will not prevent you or your clients from signing into the program. However, if you sign in during the sync process, Advisor View will show you performance as of the previous market close.
You also have complete control over whether or not you want Advisor View to calculate performance for reporting groups during the sync. The Calculate performance during sync setting is available when you select a reporting group from the Accounts page, and then select Settings/Templates under the Reporting tab.
In the rare instance that a security in Portfolio Center is renamed to a symbol that already exists in Advisor View, Advisor View will renames the existing symbol, adding "OLD" to the symbol name to prevent duplicate tickers.
Security ABCDX exists in Portfolio Center and is synced with Advisor View. Additionally, Advisor View has a security called EFGHX that does not exist in Portfolio Center. If the symbol for security ABCDX is changed to EFGHX, on the next sync, the corresponding Advisor View symbol will be updated. But that creates a duplicate listing for symbol EFGHX in Advisor View. To resolve this, ".OLD" is appended to the existing Advisor View security, which now is called EFGHX.OLD.
When syncing data in Advisor View, you have the option to Also import additional data for accounts that have been updated since the last sync. This option is referred to as a Smart Sync.
When you perform a Smart Sync, Advisor View will look to see if any transactions have been updated in your portfolio accounting system prior to the last sync date and then adjust the “start” date of the sync.
For example, let’s say your last sync date was May 20, 2015. On May 21, 2015, you manually update an April 1, 2015 transaction in your portfolio accounting system. When you select the Also import additional data for accounts that have been updated since the last sync check box for the sync, Advisor View will adjust the start date of the sync for the applicable account to April 1, 2015 so that the transaction is updated in Advisor View. If you didn’t select this check box, Advisor View would use the value you entered in Sync data from the.
To perform a Smart Sync, on the Sync Data From Portfolio Accounting System page, simply select the Also import additional data for accounts that have been updated since the last sync check box when performing the sync.
In most cases, we recommend selecting this check box – and it’s best to select it all of the time or not at all. Flipping between the two options has been known to cause issues sometimes. However, sometimes a Smart Sync can extend the duration of a sync for firms with a large number of accounts and groups. In this case, you may not want to enable Smart Syncs.
Because syncing stops firm users and clients from using Tamarac, your firm's system administrator will want to carefully control who can access the Sync Data From Portfolio Accounting System page.
To add or remove access to this page:
On the Setup menu, click User Management.
In Manage, choose Roles.
Click Edit in the row for role you want to change.
Adjust the permissions as desired.
Remove permission. If the role has permission to access the Sync Data From Portfolio Accounting System and you want to remove it, under Pages select the check box next to Setup | Sync Data From Portfolio Center and click Remove >>.
Add Permission. If the role does not have permission to access the Sync Data From Portfolio Accounting System page and you want to add it, under Available Pages, select the check box next to Setup | Sync Data From Portfolio Center and click Add >>.
Click Save.
