Create a Model Household?
A
Assistant Krill
I would like to create a Model Household with several different accounts to compare to a current Household.
The household holds several different types of accounts (i.e. 401k, direct indexing, etc.) and I would like to create a comparative Proposal Report comparing at the Household level, but the only way I can figure to compare to a hypothetical model is to create new household and manually enter a model portfolio.
Or can I create a new household and import separate Model Portfolios directly to the new Household?
Conor MacNeil
Hey Matt, is there any reason you wish to achieve this in a Model Portfolio instead of a Client Portfolio? The latter supports a three tiered structure of Household-Portfolio-Accounts.
We don't support Model Portfolios as holdings within a Client Portfolio.
I would recommend creating a Client Portfolio Household, and then creating a portfolio and populating it with accounts to present the 401k and other accounts.
A
Assistant Krill
Conor MacNeil Thanks Conor, that is a good solution. I was creating portfolios from scratch, the model portfolio allows you to add a ticker and the portfolio weight. In the client portfolio create from scratch, you need to add # of shares, date purchased, cost/share etc. It is just a much longer process and harder to navigate if the total portfolio dollar amount is uncertain.
Conor MacNeil
Assistant Krill We have a tab in Client Portfolios for this flow.
- Create a model with target allocation weights. Ensure weights are set to rebalance daily.
- Create a client portfolio, add that model as the benchmark.
- Go to rebalance tab, it will show you the shares and $ to reach the target allocations.
- If you want to base this on a specific value, add that value as the cash balance of the client portfolio. Save the portfolo with no holdings. The target allocations will then be related to the CP value.
- download the CSV.