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How to Edit a Portfolio, Account, and Holdings

This video walks through entering data and how to make changes to an existing portfolio of accounts in Portfolio Advantage.

 

Editing a Portfolio

To edit a portfolio that has already been created, select the pencil icon next to the name of the portfolio.  From there, you will be able to edit the following:

  • Portfolio Name
  • Tax Rates (Income Tax Rate and Capital Gains Rate)
  • Investment Time Frame (We suggest using the time frame that the assets will remain invested in the market)
  • The set of Capital Market Assumptions (This is helpful if you build a new set and want to see the portfolio through that lens, default is Level 2 Customizable) for more info CMA set click here.
  • Target - Default is set to Current.  This means that you will optimize the current asset allocation of the portfolio.  If you wish to move to a new asset allocation, check out this video on setting up Targets and Target Groups
  • Equivalents - Can be turned on or off at any time.  How equivalents work is defined by the set of Categories and Capital Market Assumptions used.  When turned on, it will allow LifeYield to pick between categories that are marked as equivalents to obtain the highest possible after-tax rate of return.

Editing Accounts

To edit an account that has already been created, simply select the name of the account from the list at the bottom of the Portfolio Page.  If you don't see any account listed, check out this article on adding accounts in LifeYield.

Within the account, here are some settings you can edit that apply to the Account:

  • Name - You can re-name an account to be simply Johns IRA if you wish.
  • Type - This is the taxability of the Account, which is either Taxable, Tax-Deferred (401k, IRA, SEP) and Tax-Free (Roth)
  • Options - these are characteristics of the account:
    • Locked - The account will be included in the analysis, but no changes will be suggested.  
    • Held-Away - These are accounts that your client owns, but you are not managing the accounts are getting a fee.  This setting is specific to the Held-Away Report which makes a case on how to ask for those accounts.  
  • Balance - This is the total sum of all the holdings in the portfolio.
  • Output Type - 
    • Trade - Full discretion over the assets in this account.  This setting will allow LifeYield to sell or move any position /tax-lot in this account. This is the default for all new accounts.
    • Target Assignment - This tells LifeYield that the account needs to have one of your targets (models) assigned to it in the most tax-efficient way.  Here is a video that goes into Target Assignment in detail.
    • Pro-Rata Withdrawal - This setting is specific to Income Advantage, which tells life yield that we have to sell a % of the balance and cannot sell specific holdings.  This is used primarily for accounts that are in an SMA or Managed Model. 

Editing Holdings

Once you have an account open to edit, you will see a list of all the holdings.  These can be displayed as holdings or category investments. 

Note: If you edit the Category assignment for a specific Ticker Symbol or CUSIP, this will apply that change across all the Portfolios in your account.  
Example: You see a mutual fund categorized as Large Cap - you think it should be International, if you make that change, it will change the mapping of that ticker for all the accounts that are built with that same CMA set.

Here is a link for more details on how to edit the holdings and manage the master security