Equivalents

Equivalents help keep accounts within their model designations while maintaining ownership of securities outside of the model. If a client owns a security that they do not want to be sold, you can preserve it by making it equivalent to a security that already exists in the model. Equivalencies can be set at the Firm/Security-level or at the Account-level.

Set a Firm-level Equivalency

To set a firm-level equivalency, start by selecting the Firm Equivalents tab that is in the Admin menu. Once there, click +Add an Equivalent next to select the model and account securities. You may also set the security to Buy Existing. Press Save to save your equivalent. To remove an equivalent, select it and press the trash can button. Once an equivalent is set, you cannot edit it.

Screen_Shot_2019-02-22_at_1.15.59_PM.pngScreen_Shot_2019-02-22_at_1.16.13_PM.png

As this is a global setting, this equivalency will be active for all accounts.

These securities are not cross equivalent to each other (i.e. Security A is only equivalent to security B; security B is not equivalent to security A). If you wish them to be cross-equivalent, then you need to set the equivalency on both securities.

Set an Equivalency at the Security-level

You can also set a firm-level equivalent within a specific security. To set a firm-level equivalency within a security, start by selecting the Security from within an Account Detail from the Balances & Restrictions table.  Find the Security Equivalents tab that is in the Security Detail. Once there, click +Add an Equivalent, picking the Account security equivalent. You may also set the security to Buy Existing. Press Save to save your equivalent. To remove an equivalent, select it and press the trash can button. Once an equivalent is set, you cannot edit it.

Like the Firm-level equivalency, this is a global setting and will be active for all accounts.

These securities are not cross equivalent to each other (i.e. Security A is only equivalent to security B; security B is not equivalent to security A). If you wish them to be cross-equivalent, then you need to set the equivalency on both securities.

 

Set an Account-level Equivalency

To set an account-level equivalency, start by selecting the Account Equivalents tab that is in the Account Detail. Once there, click +Add an Equivalent next to select the model and account securities. You may also set the security to Buy Existing. Press Save to save your equivalent. To remove an equivalent, select it and press the trash can button. Once an equivalent is set, you cannot edit it.

Unlike the Firm-level equivalency, this is not a global setting and will only be active for the specific account on which it is set.

These securities are not cross equivalent to each other (i.e. Security A is only equivalent to security B; security B is not equivalent to security A). If you wish them to be cross-equivalent, then you need to set the equivalency on both securities.

 

Buy Existing

The Buy Existing feature allows you to purchase more of securities that already exist in an account, rather than buying a security that is similar to what is in the model. This feature works as an extension of the Security Equivalency feature.

 

 

Was this article helpful?
0 out of 0 found this helpful
Have more questions? Submit a request

Comments

0 comments

Please sign in to leave a comment.