Use Presets for Default Allocations

A default allocation is used automatically when you create an order. You can modify the allocation on a per order basis, and change the default allocations and presets at any time.

To set default allocations

  1. From the Account menu select Advisor Setup.
  2. From the Advisor Setup top menu select Presets .

Define settings described below:

No default accounts - you will have to select an account for allocation for each order.

Use currently subscribed account - check this button to automatically allocate trades to the account or group selected in the Account dropdown on a trading screen, as shown above.

Use specified default - check this button to set a specified default allocation:

Automatic Allocation - choose a user-defined Account Group and method to use for default allocation.

Example: You transmit an order for 4000 shares of stock ABC. If your Account Group includes four accounts, each account receives 1000 shares. If your Account Group includes six accounts, each account receives 667 shares, and then 1 share is allocated to each account until all are distributed.

Example: You transmit an order for 700 shares of stock XYZ. The account group includes three accounts, A, B and C with Net Liquidation values of $25,000, $50,000 and $100,000 respectively. The system calculates a ratio of 1:2:4 and allocates 100 shares to Client A, 200 shares to Client B, and 400 shares to Client C.

Example: You transmit an order for 700 shares of stock XYZ. The account group includes three accounts, A, B and C with available equity in the amounts of $25,000, $50,000 and $100,000 respectively. The system calculates a ratio of 1:2:4 and allocates 100 shares to Client A, 200 shares to Client B, and 400 shares to Client C.

Manual Allocation - choose an Allocation Profile to use as the default.

Single Account Allocation - choose an individual account to use as the default allocation. NOTE: To allow the last selected individual account to be used for the default allocation going forward, select the Use currently subscribed account radio button at the top of the page.

Preserve default - select to always use the default set up in the Default Allocation window regardless of changes you make on a per-order basis. If this is checked, you will need to use this window to modify the default allocation.

Use last submitted as a default - select if you want the default allocation to change to the allocation you set on a per-order basis. If this is checked, the default allocation automatically changes when you change the allocation on an order.

If one or more accounts fails to meet the margin requirements when an order is submitted...
For each order, all accounts designated for order allocation are vetted before the order is submitted, to ensure that each account has the capacity to support the designated allocation. In cases where one or some account(s) cannot hold the allocation as specified, the advisor can elect to:

Note:  Note that once the order has been submitted and is working, the quantity of the working order may still change. For example, if an unrelated fill results in one or more of the accounts no longer being able to support the allocation, the order size will be reduced by that quantity. In an opposite scenario, if an account whose allocation was deactivated can now support the allocation, a quantity that was deactivated during the initial order submission may be reactivated and submitted.

When closing positions: Applies only to orders that use the Available Equity or NetLiq automatic allocation methods described above.