Replacement Options

For each harvested position advisors may:

Hold cash
OR
Purchase a replacement security

Replacement Purchase

Model-Managed Portfolios	The replacement security is bought by the system at the next trade build. The amount depends on target weight, available cash, and tolerance bands.
Advisor-Managed Portfolios	Not automatic. Proceeds stay in cash until you run the rebalancer, which builds the replacement buy. You can edit trades before submitting.

Wash Sale Protection

When a security is sold in one account within the group, a Tax Group Closing Only exclusion is applied to all accounts in the Account Group for the harvested security for 30 days.

Users may choose to hold cash or the replacement security after the wash sale period OR choose Reopen After Wash Sale Period.

Reopen After Wash Sale Period

Enabled

Exclusions are automatically removed after 30 days, and harvested model positions are repurchased on the following business day.

Disabled

Exclusions remain until manually removed.
Replacement security will not be sold.
Harvested security will not be repurchased.

What Happens After Reopening?

Model-Managed Portfolios	Positions automatically realign with the model.
Advisor-Managed Portfolios	Advisors must manually rebalance using the rebalancer to sell the replacement and buy back the original symbol.

Replacement Securities & Wash Sales