Pro Tips

Platform Pro Tips

Supervisor Role vs. Launch into Advisor Portal

The only time you need to Launch into the Advisor Portal is for opening up a new account, terminating an account, and doing a modify goal SR to change programs.

Best Practices

To ensure you do not receive any trade rejections, we recommend staging your trade. Place the sells first, then place the buys the next day
BEFORE placing trades, check for trade alerts and pending trades
AFTER placing trades, check “Trade Execution” to ensure all trades have been acknowledged
When trades are placed after hours, they will go through on the first trading file the next day. Only way to cancel is by calling the custodian before the market opens
Any trades placed after 2:30 EST is best efforts

Proposal Generation

Be sure to click Edit and select NO on the dropdown next to “Is this a governement entity” in the account setup workspace
Always input the ADVISOR fee into the Proposal and Cover Page
If the portfolio you are selecting is not showing correctly due to a higher or lower risk than what is filled out in risk express.
Click on the “Search Filters” > choose “All Risk Classes” > “Apply”
When building a UMA proposal and the account is less than $100k, input the account value as $100k
Click “Reset” icon to reset proposal without starting over

Withdrawal Method

Distribution Instructions will be provided later – choose this if ACH & tax instructions are on file at the custodian
FA/Client will distribute – choose this to distribute manually at the custodian once the funds have settled

Terminate Account

Completing this request ensures the account will not be billed on, reported on, or traded
This request only closes the account on the Envestnet platform. You must also close at the custodian
For APM accounts you MUST go and liquidate the positions before the SR is submitted

Protect Cash

You can protect cash before an account is set up. Include the details in the body of the email when sending an SIS for processing.
Use this if the client is taking out a withdrawal soon – you must rebalance after protecting the cash

Systematic Withdrawals

If the account already has enough cash to cover the distribution, the system will not place the trades.
For annual distributions, go ahead and set up the SW, then do a Modify Systematic Withdrawal once you know the upcoming years RMD amount.
First Distribution Date – Choose the exact same date that is set up at the custodian level.
Enter the Gross Amount for the withdrawal

Modify Goal Program Selection