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Author Archives: Evan Byrne

Evan is a Subject Matter Expert Ascent Training (SMEAT) for the Trading team. He is a Nebraska native but has lived in three foreign countries (Ireland, England, Spain) and has trained boxing for nearly ten years.
How To Use Sleeve Strategy Model Equivalents

The February 2018 Software Update includes some exciting improvements for advisors who trade through Orion. The update is even better for advisors who use sleeve trading.

In today’s article, we’ll take a look at how you can use sleeve strategy model equivalents after the new software update releases on February 24, and preview other important trading enhancements.

Adding Model Equivalents in Sleeve Setup

In mid 2017, Orion released the ability to add a model equivalent within the Sleeve Strategy app. However, this month’s Software Update enhances that functionality so you can add an equivalent directly from a specific Registration’s Sleeve Setup.

With this process, you’ll now have the flexibility of adding a model as an equivalent, all while still assigning that Registration to the Sleeve Strategy. This streamlined workflow allows the Registration to follow the Sleeve Strategy with the equivalent model already picked.

Prior to this month’s update, you  could still assign a model equivalent, but only if the Registration were already sleeved out. If the Registration were being sleeved out for the first time, it would have to be done with a custom strategy and then switched to the actual sleeve strategy before adding the model equivalent.

Thus, we have added an Add New Substitution box in the Sleeve Setup page in Portfolio Audit.

When a sleeve strategy is chosen from the dropdown menu, you can now use models that are in the strategy, or instead, choose a model equivalent that has been previously setup in the Sleeve Strategy app.

This new step means you can sleeve out a Registration and assign it to an existing sleeve strategy, but also efficiently add a model equivalent for that particular Registration. 

Tactical Trading Tool Updates

Based on advisor feedback, we’ve made several enhancements to our Tactical Trading tool.

We’ve improved the functionality of our portfolio details dropdown menu along the right side of the screen by including a portfolio’s relevant Gain/Loss information. Furthermore, we’ve given each account within a given portfolio its own dropdown menu to provide a complete picture.

We also made some minor changes that will help you save time and make the tool significantly more user-friendly.

First, we’ve added a dropdown field along the top of the screen so you can quickly toggle between portfolios and instantly load them into the Tactical tool. Prior to this update, you would need to leave the Tactical Trading page, go back to the Orders grid, and load the next portfolio back into Tactical.

To improve navigation and viewing of the Tactical page, we’ve also introduced some new grouping features and columns. The grouping functionality allows you to group what is being viewed on the page by: Security Set, Asset Category, Asset Class, Asset sub-class, or Entire Model. When you select one of these options, the Tactical tool will remove all other model nodes besides the one selected.

Please Note: ‘Entire Model’ will individually show all assets in the portfolio.

We’ve also added some new columns: Status, Difference, Pending Trades, Gain/Loss

Status’ reflects whether the item(s) is out of tolerance or not (OOT = Out of Tolerance).  

The ‘Difference’ column is the difference between the Target and the Current columns (Difference = Target – Current).  

‘Pending Trades’ will include ALL levels of the model and will reflect any current trades in the orders grid.  

Gain/Loss reflects gain/loss information for each level of your model (for whichever level you have selected).

Finally, we’ve added the ‘Trade Approval’ and ‘Trade Logs’ features. Trade approval will allow you to approve trades while still on the Tactical page. Before this update, you would need to return to the Orders grid.

The ‘View Trade Logs’ section will view previous trade logs (ex: if you ran a rebalance a few days ago and want to view that log because you need to better identify something on the Tactical page.)

NOTE: We also have a video showing these updates under the Trading section in Orion Social!

Restrictive Plans

To better service the diverse trading needs of our advisors, we’ve added a new Restricted Plan feature. The new feature will make managing restrictive plans such as 401ks, 403bs, 529s, etc. significantly easier in the Eclipse™ platform.

These types of restrictive plans often only allow for the investment of specific securities approved by the plan, and advisors cannot deviate from the list of approved securities. For example, a 401(k) plan may only permit the investment of twenty or so investment products.

With this feature, you will be able to choose only from available products and have those taken into consideration from a rebalance perspective.  In addition, since those trades would need to be completed by the client, there will be a report available that the Rep can provide.

We’re excited for you to experience these new updates in the February 2018 Software Update. If you have any questions about today’s article, please contact the Orion SME Trading Team.