DAY 1 Focus: Core Workflow: Non-Taxable Accounts
Goal: Use the core SMArtX workflow using non-taxable accounts.
These accounts are the simplest to process and allow you to:
Verify account setup
Apply restrictions correctly
Model research (if needed)
Assign targets
Generate and approve trades
Raise or deposit cash through the CMA -Cash Management Application
Step 1: Verify Linked Accounts
From the Dashboard
Select the Active Account Summary page
Confirm that all expected accounts are populated
If an account is missing:
Pause and investigate onboarding or custodian linking issues before continuing.
Step 2: Set Up An Account - Create Trade Restrictions & Protected Positions
Select an account
Note: Everything will be living in the Managed Portfolio sleeve
Important: Creating trade restrictions & protected positions must be completed before creating or assigning a target.
Set up Protected Positions (Protected Sleeve) - Use when a client does not want certain shares traded.
Select View Holdings in the Actions on the Managed Portfolio line
Allocation Holding tab appears of the manage portfolio
Select Move Positions
On the slide out, select Protected (New) from the Target Sleeve (see image below)
Select for the security you will be adding to, adjust the desired Amount to Move column and Submit
The Protected Sleeve will be created now along side with the Managed Portfolio
Set up Trade Restrictions - Use for account-level instructions on specific securities. Examples include: Exclusions - Substitutions - Equivalent Securities
Select Trade Restrictions from the left hand navigation
Select +Create New Restriction button
Determine restriction to apply
Exclusion
Substitution
Equivalent Securities
Make your restriction updates in the slide out
Select Submit
🎥 How to Configure Trade Restrictions in SMArtX 1:44 min.
Step 3: Investment Product Research
If you are not sure which strategies you will be utilizing for your accounts you will need to research our product library prior to creating your target portfolio.
From the SMArtX Dashboard, select Search Products button
Use Filters to search for specific strategy types or
Help Me Find Models tool to identify models that closely align with existing holdings.
Use the Product Microsites to review detailed insights to research the strategy further.
🎥How to Review Available Investment Products 1:59 min.
Step 4: Create and Assign a Target Portfolio
Assumption: Portfolio research is complete. 🎥 How to Review Available Investment Products
Create a Target
From the SMArtX Dashboard, select Create A Target button
From Home Page, Add New Target button at bottom of page
On the Edit Target tab
Add a new title using pencil icon
Enter Stock symbol or model name - Add to Target
Adjust target weightings
Advanced mode to make adjustments as needed
Finalize creation and save target
Assign the Target - Return to the account page
Open the account
Select Quick Assign to assign the target to the account
Verify and be prompted to the Rebalancer
🎥How to Build a Custom Target Portfolio 1:25 min.
🎥How to Assign Accounts to Targets 1:01 min.
Step 5: Rebalance the Account
Action:
After assigning the target, click Yes to rebalance
You will be directed to the Rebalancer
Select the account(s)
Generate proposed trades
Review and approve trades
Best Practice: Use filters to help send all non-taxable accounts through the rebalancer together when possible. Determine if taxable accounts may be worth sending through the rebalancer after viewing details through the Best Fit Pending Approval state. You may consider that you’ll need to send through the transition tool.
Best Practice: Cash Management Application - Review Schedule Set Up
If you have any monthly recurring cash transactions (RMDs, DCAs, SWPs), these need to be created within the platform to ensure trades associated to those schedules are handled through SMArtX and not by the custodian. The journal/transfer of cash in or out of the account is the only instruction that should remain at the custodian.
NOTE: If the transaction type for a CMA schedule is set as “Rebalancer”, the first occurrence of this schedule will automatically rebalance the account, whether it's been rebalanced before or not.