After you have entered data for your client you may proceed with the creation of the documents or reports or you may want to proceed to the Security Selection feature under the “Implementation” section. If you elect to use the Security Selection feature you’ll be able to select specific securities to fulfill the client’s asset allocation target.
Please Note: In Version 5.2 we introduced a feature where the advisor can elect to use “Detailed” Morningstar asset allocation breakdowns as opposed to “Summary” or what used to be called our “Balanced” method. If you have elected to use the “Detailed” method you may want to click here to understand the impact you will see on your clients.
The Security Selection is broken down into 3 different sections. The top section is where you can change your views for the lower sections and it is also where you would begin to make your product recommendations. The middle section shows you a breakdown of all the holdings in each account. The bottom section is a breakdown of the client’s asset allocation.
To begin choosing the securities that will be deployed for each account, you must decide which option you will use. There is 3 different ways to implement the securities.
1. Choosing Portfolios – this option is the fastest and easiest way. However you first must have portfolios set up on the system. These can either be system generated portfolios or they could be portfolios that you set up in the “My Preferred Portfolios”.
2. Add Favourites – this option allows you to choose the funds on which you have created from your favourites list. This selection is best used for a more sophisticated portfolios and it does take up more time but is better used when dealing with much bigger portfolios.
3. Choose Fund – You might decide you want to create a security selection for you client by choosing each fund individually. This is good when you want to mix and match
TIP: When you begin making your recommendations, we suggest using a different view when making these recommendations for this screen can be very cluttered when the clients have a lot of accounts and funds so we suggest using a different view when making your recommendations.
Changing the Views
To change the view to fewer accounts check off the account you wish to view then click on the “Update View” link. This will only show the assets in the account you have chosen. This makes it easier when you are making your recommendations.
This selection allows you to choose a portfolio of assets you have already set up. Note that you must have set up portfolios in the “My Preferred Portfolios” on the home screen before this option is available. Start by clicking the “Select” link under the account you want to start.
Now you can choose the portfolio you wish to implement for the account and as well chose the amount to be deployed. Then hit the select button.
TIP: Not always will you want to use the full portfolio for the full amount. The program allows you to mix and match where part of asset funds are created by a portfolio and part of the asset funds that are created by choosing individual funds.
TIP: If you do not deploy the full amount of the account and add funds to mix and match and then decide that you would like to just use the full amount of the Portfolio then you can use the “Reset” button beside the account. This will bring the account back to just using the full amount within the portfolio you selected.
This selection allows you to choose a portfolio of assets that you created from your favourites list. Please note that you must have set up some favourite lists in the “my favourite products” on the home screen before this option is available. Start by clicking the “Select” link under the “Add Favourites” beside the account you want.
You then will be presented a screen with all your Favourites Lists, you may then choose a fund you wish to recommend and hit the select button.
Finally, as we mentioned above with mixing “portfolios and “choose funds”, you might just decide to create a security selection for your client by choosing funds. You would start by hitting the select button beside the account you wish to add a fund to. Then the “Product Selection” will appear. This is where you are going to perform your search for the fund.
You would select the funds you want for all accounts and then you are finished. Always watch your totals for each account and the grand total at the bottom of the screen to ensure you have deployed the correct amount in each account and across all accounts. Your completed Security Selection portfolio should look something like this.
TIP: The reset button, which can be found above the allocation view, is to remove all the work you have done and zero out all of the accounts.
Additional Mini Movies on the Security Selection Screen
Shows you how you can use the Security Selection tool even with no detailed accounts: Length: 1min 29 sec
Explains how products are automatically weighted in the Security Selection screen, and how you can edit them yourself: Length: 3min 58 sec
Orients you to the Security Selection screen by providing a description of the function of buttons, sections of the screen, values and titles such as “Choose Portfolio”: Length: 4min 01 sec