Advisors can differentiate between Accounts they advise/manage directly for clients (“Managed”) versus accounts they don’t manage but have a view into through the platform (“Unmanaged”).
An example of “Managed” accounts are Accounts that come directly from custodians like RBC Clearing & Custody or Schwab Institutional that Advisors have discretion over. An example of an “Unmanaged” account is an employer 401k account that Investors link and share through the Investor Portal for which the Advisor has no control over.
Each Firm is able to set the default value (Managed or Unmanaged) they would like to assign to accounts based on data feed (example: all RBC accounts set to Managed, all Fidelity accounts set to Unmanaged). However, Advisors who are entitled can also override the default value assigned to an account in case there are exceptions.
Once accounts have been setup with the correct Managed or Unmanaged value, Advisors can run reports and view their dashboard based on All Accounts, Managed Accounts, or Unmanaged Accounts filters.
Similary, Investors using the Investor Portal will be able to switch between viewing their portfolio and account information through these same parameters. The default view Investors see can be set by Advisors/Firm Managers.
This Managed/Unmanaged Accounts feature is behind a feature flag that can be turned on or off for each Firm. Unless specifically called out otherwise, turning on this feature will turn on everything described in the following pages: