Advisors can create activity statements at the Advisor account level, individual client account level or create a consolidated statement which can include some or all your accounts. This lesson will show you how to create and customize client statements.
Advisors can log in to Advisor Portal and create activity statements at the Advisor account level, individual client account level or create a consolidated statement, which can include some or all your accounts.
Clients, too, can log in to Client Portal and view their statements electronically.
Activity statements contain information about account activity, such as positions, cash balances and transactions.
Activity statements include performance summary by asset class, and profit and loss across transactions, positions and instruments using one of three client-selected calculation methods – FIFO, LIFO and MTM.
From the Application menu to the left within Advisor Portal, expand the Reports menu. Here you’ll see that you can access a variety of reports:
PortfolioAnalyst – which is a reporting tool – enables users to slice and dice portfolio investments in order to measure and compare performance against routine or complex benchmarks. We have a full Traders’ Academy course on this topic.
Statements – this will enable you to run a variety of activity statements for you and your clients.
Flex Queries – lets you specify exactly which fields you want to view, the time period you want the report to cover, the order in which you want the fields to appear, and the output format.
Other Reports – this contains Risk and other supplemental reports.
Tax – which contains tax forms and other tax tools.
An account picker will display on the right. If you do not see the Account Picker automatically to the right of the screen, click the blue-pill next to Statements in the blue tool bar.
In the account picker, you can use the filter icon to limit customer types and account status. Then use the checkboxes to select a group or individual accounts.
Selected accounts are displayed at the bottom of the account picker. Review and then click continue.
Statements has three sections.
Run a Statement allows users to run preconfigured statements for the accounts listed as blue-pills in the tool bar above.
Statements can be customized and saved to run at any time on the top right. To configure a custom statement, click the gear icon on the top right.
Delivery settings may be set in the section below.
In the Run a Statement section, decide whether to create a default statement or use a customized version.
See the default statement and from the Statement type dropdown.
Choose a default statement type.
Let’s select Activity.
Next select the time period and then the report format.
If you choose PDF or CSV, these will download when you run the statement, and you must then save them. If you select HTML/Web, reports will appear directly on your screen.
Select a language for the report, and you are ready to click the green Run Statement button.
Advisors may wish to create a more detailed statement for distribution by selecting the Custom Statements configure gear icon to the right.
If there are no statement templates displayed, then you have not created and saved any yet. Activity Statement Templates are created and stored in this area and can be edited or deleted by using the pencil and x icons to the right of each template.
To create a new template, click the + icon to the upper right of the screen. Name your Statement template and select the format followed by the language. Determine whether to use Daily or Monthly time periods.
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