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 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. 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. 

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Note: you can search and sort on Portfolios and Accounts on the Household page. If an Account belongs to a Portfolio, the search and/or sorting will only occur on values at the Portfolio level.   

Create a Household

To create a Household, begin by navigating to an existing Contact record. To the right of the Contact's profile picture, select "View Household." From there, you should see the Summary and Household Accounts & Portfolios components. At this point, they should be populated with data specific to that particular Contact. 

Next, navigate to the Pencil icon on the Household page's Relationships component. 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.

Assign a Model to a Household Portfolio

You can assign a model to a household portfolio when you either:

  1. Create a new portfolio
  2. Edit an existing portfolio

You may select a model from My Firm's Collection from the drop down within the portfolio creation or edit screen. You may also remove a model assigned to a portfolio from these screens.

View Household Portfolio Details 

Once a Household Portfolio has been constructed, you can select the link that appears on its name to gather more information. It is from the Portfolio Details section that you can see the Model's Risk Tolerance and its underlying securities. It's also 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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