Household Portfolios

The Household Page

Oranj now provides the ability to monitor and manage an entire household’s financial picture. Householding allows you to combine multiple accounts of, for example, a family that previously was listed separately. Managing an entire household’s finances helps advisers to provide holistic advice for the aggregate household, not just the individuals that constitute a household separately.

Individual contacts (or prospects) can be be grouped together to form a single Household. The Household page is a centralized, aggregated view that provides all pertinent details for a household.

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It contains three components:

  1. Summary - This section displays values for Total Net Worth, Total Investment, and Total AUM as the sum of all accounts, investment accounts, and managed accounts, respectively, within the Household. Use this as a measure of the Household's total value.
  2. Relationships - This section displays the Household's Spouse and Children in a nested structure underneath the "Primary" Household member (with whom you, as an adviser, have the most direct relationship). Use this to visualize the Household dynamic at a glance.
  3. Household Accounts & Portfolios - The section lists all of the accounts that belong to members of the Household. Standalone accounts are distinguished from accounts that belong to a portfolio by a nested structure (see below). Use this to group accounts according to your preferred rebalancing logic.

 

Create a Household

To create a Household, begin by navigating the Household page for an existing Contact. You can do this from the contact grid or from the contact record by selecting "View Household" to the right of the client’s name. particular Contact.

Next, navigate to the Pencil icon on the Household Relationships section. From there, select the "+ Create New Contact" button. Doing so will prompt you to complete a form that contains fields for the contact's First Name, Last Name, Relationship to the Primary Contact, and Email Address (the last of which is optional).

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Adding a Household member can be completed in two ways:

  1. Creating a New Contact - This will happen if the Email address of the new Household member being added does not yet exist within Oranj.
  2. Merging an Existing Contact - If the Email address of the Household member being added already exists within Oranj, you will be presented with the the option to add that Contact to the household.

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Note: in order to avoid duplicate versions of the same Contact during the Edit Household process, you must include a Contact's email address

Create a Household Portfolio

For advisers that prefer to manage accounts at the the household-level, Oranj has the Household Portfolio option. Creating a portfolio allows an adviser to assign a model to a collection of accounts. From there, rebalancing can take place in consideration of all of a Household's assets, instead of at the account level.

To create a Household Portfolio, begin by selecting the "+ Add a Household Portfolio" button on the top right of the Household page. From there, you will be instructed to:

  1. Name the Portfolio
  2. Assign a Model to the Portfolio from your Firm's collection (optional)
  3. Select Accounts to assign to the Portfolio from a list of all of those that belong to the Household

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Note: Held Away Accounts and non-Investment Accounts are able to be added to a Portfolio in order to quickly arrive at a Portfolio balance, for example. Note, the Rebalancer will exclude them from any measurements of deviation and resultant trade orders.

 

View Household Portfolio Details 

Once a Household Portfolio has been constructed, you can select the name of the Household portfolio to view the details. It is from the Portfolio Details section that you can assign a model, see the Model's Risk Tolerance and deviation. You can also see all  underlying securities for every account in the Household Portfolio where you can set "Do Not Sell" or "Exclude" preferences on those holdings.

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Note: Deleting your Portfolio is only possible from the Portfolio Details page. 

 

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  • There is no "+ Add a Household Portfolio" button on the household page...

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