Have you ever wondered how to remove an account or asset from your managed performance number? Perhaps the account was strictly cash, or maybe it was not actively managed by the advisor. Maybe an asset was a legacy position that you were not actively managing. Whatever the reason, in this week’s Tech Tip, we’ll show you how.
Is it actively managed?
If the account or position is not actively managed, why include it with the managed portion’s performance? This is an all-too-common scenario seen in the Orion system. Orion has a simple all-or-nothing switch to flip that will tell the system whether or not to include the account, asset, or product in all reporting and performance functionality.
Since Orion is considered a “managed entity platform”, the “Managed” checkbox was designed to allow the advisor to separate the two. Here’s how to navigate to this setting at either the account, asset, or product level:
- Account: Portfolio Audit > Accounts > locate desired account > right click on the account in the grid > Edit Account(s) > check/uncheck the Managed checkbox
- Asset: Portfolio Audit > Accounts > locate desired account > right click on the account in the grid > Assets > right click on the desired asset > Edit Asset(s) > check/uncheck the Managed checkbox
- Product: Products & Prices app > click Search Local Products from left sidebar > enter the product name, ID, or ticker symbol > Refresh Grid > right click on desired product > Edit Product(s) > check/uncheck the Managed checkbox
Need to see the account but exclude it from performance?
Orion has developed unmanaged override settings at the account, asset, and product level to allow you to designate exactly what part of the reporting and performance system you want an entity excluded from. The overrides include the following options: Performance, Activity Summary, Allocation, Portfolio Detail, and Tax Detail.
Checking any combination of the individual checkboxes tells the system to consider the entity “managed” for that specific reporting or performance functionality. For example, to remove the entity from only the performance calculation, but have it included for all other reporting functionality, simply uncheck the “Performance” box, while leaving the others checked.
To navigate to this setting at either the account, asset, or product level, use the following:
- Account: Portfolio Audit > Accounts > locate desired account > right click on the account in the grid > Edit Account(s) > on the left sidebar, under Options, select Settings > click on the Reports section > click the drop box next to Unmanaged assets inclusion
- Asset: Portfolio Audit > Accounts > locate desired account > right click on the account in the grid > Assets > located desired asset > right click and select Edit Asset(s) > on the left sidebar, under Options, select Settings > click on the Reports section > click the drop box next to Unmanaged assets inclusion
- Product: Products & Prices app > click Search Local Products from left sidebar > enter the product name, ID, or ticker symbol > Refresh Grid > right click on desired product > Edit Product(s) > on the left sidebar, under Options, select Settings > click on the Reports section > click the drop box next to Unmanaged assets inclusion
If you have a question or need additional help, email the Performance team at performance@orionadvisor.com.
1040-OAS-10/15/2019