Q: Does the Transition Tool automatically reset capital gains budgets at year-end?
A: No. The tool has no concept of time or year-end. Advisors must reset budgets if needed. However, year-to-date realized gains/losses reset automatically based on the custodial feed.
Q: Can budgets be carried forward year over year?
A: Yes. Advisors may choose to maintain the same budget across years (e.g., $0 short-term, $10,000 long-term) until the portfolio is fully transitioned.
Q: What’s the best practice for firms with many accounts in transition at year-end?
A: Advisors should manage budgets directly. Firms can request a bulk reset (e.g., $0 across all accounts) through SMArtX support. This is a manual override, not automated.
Q: How does a bulk reset workflow work?
A:
Advisor or home office submits accounts via a “Get Support” ticket.
SMArtX tech support updates the budgets in bulk.
Client Success provides confirmation.
Key Point: Bulk resets must apply consistent rules across accounts. Advisor-specific logic is not supported.